Sunrun (NASDAQ:RUN) Shares Down 3.4%

Sunrun Inc. (NASDAQ:RUN)’s stock price traded down 3.4% on Thursday . The company traded as low as $19.60 and last traded at $19.60. 4,614,452 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 12,590,811 shares. The stock had previously closed at $20.30.

Analysts Set New Price Targets

A number of brokerages have commented on RUN. BMO Capital Markets upped their price objective on shares of Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Morgan Stanley increased their price objective on Sunrun from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Truist Financial reaffirmed a “hold” rating and set a $18.00 price target (up from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and an average price target of $22.98.

Sunrun Stock Down 5.8 %

The company has a market cap of $4.24 billion, a PE ratio of -3.04 and a beta of 2.59. The firm has a 50-day simple moving average of $18.45 and a two-hundred day simple moving average of $14.32. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. The firm had revenue of $523.87 million during the quarter, compared to analysts’ expectations of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. Research analysts anticipate that Sunrun Inc. will post -0.16 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In related news, CFO Danny Abajian sold 4,662 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.62, for a total transaction of $58,834.44. Following the sale, the chief financial officer now owns 283,098 shares in the company, valued at $3,572,696.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Danny Abajian sold 4,662 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $12.62, for a total value of $58,834.44. Following the completion of the transaction, the chief financial officer now directly owns 283,098 shares in the company, valued at $3,572,696.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward Harris Fenster sold 4,646 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $18.01, for a total value of $83,674.46. Following the completion of the sale, the director now directly owns 1,202,777 shares in the company, valued at $21,662,013.77. The disclosure for this sale can be found here. Insiders sold a total of 128,675 shares of company stock worth $2,243,289 over the last ninety days. 3.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently bought and sold shares of RUN. Duncker Streett & Co. Inc. acquired a new position in shares of Sunrun in the 2nd quarter valued at $36,000. BNP Paribas acquired a new stake in shares of Sunrun during the 1st quarter worth $37,000. CWM LLC raised its position in shares of Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after buying an additional 3,014 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Sunrun in the second quarter valued at $45,000. Finally, Headlands Technologies LLC purchased a new stake in Sunrun during the first quarter valued at about $53,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Sunrun

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.