Sunrun (NASDAQ:RUN) Stock Price Down 9.4%

Sunrun Inc. (NASDAQ:RUN - Get Free Report) was down 9.4% during trading on Wednesday . The stock traded as low as $11.73 and last traded at $11.80. Approximately 2,589,210 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 14,423,826 shares. The stock had previously closed at $13.02.

Analysts Set New Price Targets

Several analysts have issued reports on RUN shares. Truist Financial restated a "hold" rating and issued a $14.00 price target (down from $15.00) on shares of Sunrun in a research report on Monday, February 26th. BMO Capital Markets boosted their price target on Sunrun from $18.00 to $20.00 and gave the company a "market perform" rating in a research note on Thursday, February 22nd. Royal Bank of Canada reduced their price objective on Sunrun from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Friday, March 15th. Jefferies Financial Group assumed coverage on Sunrun in a research report on Friday, December 15th. They set a "buy" rating and a $25.00 price objective on the stock. Finally, Oppenheimer restated an "outperform" rating and issued a $19.00 target price on shares of Sunrun in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Sunrun presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.05.

Sunrun Stock Down 5.6 %

The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -1.66 and a beta of 2.46. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.26 and a quick ratio of 0.96. The firm has a 50 day moving average price of $12.93 and a 200-day moving average price of $13.24.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($1.20). The business had revenue of $516.59 million during the quarter, compared to the consensus estimate of $499.74 million. Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. As a group, equities analysts predict that Sunrun Inc. will post -1.58 EPS for the current fiscal year.

Insider Activity

In other Sunrun news, Director Alan Ferber bought 10,000 shares of the firm's stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $9.73 per share, with a total value of $97,300.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $97,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Danny Abajian sold 17,440 shares of the company's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $12.07, for a total value of $210,500.80. Following the transaction, the chief financial officer now owns 163,734 shares of the company's stock, valued at $1,976,269.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Ferber purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $9.73 per share, with a total value of $97,300.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $97,300. The disclosure for this purchase can be found here. Insiders have sold a total of 128,840 shares of company stock worth $1,549,596 over the last three months. Corporate insiders own 3.76% of the company's stock.

Institutional Investors Weigh In On Sunrun

Several large investors have recently modified their holdings of the stock. Diversified Trust Co purchased a new position in Sunrun in the 4th quarter valued at approximately $221,000. Barclays PLC increased its position in shares of Sunrun by 207.4% during the second quarter. Barclays PLC now owns 1,037,529 shares of the energy company's stock valued at $18,531,000 after buying an additional 699,992 shares during the period. Zweig DiMenna Associates LLC grew its stake in Sunrun by 64.8% during the third quarter. Zweig DiMenna Associates LLC now owns 206,913 shares of the energy company's stock valued at $2,599,000 after acquiring an additional 81,363 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Sunrun by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,405,097 shares of the energy company's stock valued at $243,728,000 after acquiring an additional 126,321 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Sunrun by 112.9% in the third quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company's stock valued at $27,969,000 after acquiring an additional 1,180,823 shares during the last quarter. Hedge funds and other institutional investors 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.