Sunrun (NASDAQ:RUN) Trading Down 3.9% After Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares dropped 3.9% during mid-day trading on Monday after Mizuho lowered their price target on the stock from $28.00 to $23.00. Mizuho currently has a buy rating on the stock. Sunrun traded as low as $9.81 and last traded at $9.85. Approximately 2,639,219 shares were traded during trading, a decline of 81% from the average daily volume of 14,184,179 shares. The stock had previously closed at $10.25.

Other equities research analysts have also recently issued reports about the company. Oppenheimer reiterated an "outperform" rating and issued a $19.00 price target on shares of Sunrun in a research note on Thursday, February 22nd. Susquehanna reiterated a "positive" rating and issued a $25.00 price target on shares of Sunrun in a research note on Friday, April 5th. Piper Sandler decreased their price target on Sunrun from $31.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, February 22nd. Royal Bank of Canada decreased their price target on Sunrun from $17.00 to $15.00 and set an "outperform" rating for the company in a research note on Friday, March 15th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Sunrun in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $21.26.

Insiders Place Their Bets

In related news, Director Alan Ferber purchased 10,000 shares of the business's stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $97,300. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sunrun news, Director Alan Ferber acquired 10,000 shares of the company's stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $97,300. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mary Powell sold 5,424 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $12.12, for a total value of $65,738.88. Following the completion of the transaction, the chief executive officer now owns 411,628 shares in the company, valued at approximately $4,988,931.36. The disclosure for this sale can be found here. Insiders have sold a total of 301,760 shares of company stock worth $3,615,990 in the last quarter. 3.76% of the stock is owned by company insiders.

Institutional Trading of Sunrun

Hedge funds have recently added to or reduced their stakes in the stock. Diversified Trust Co acquired a new stake in shares of Sunrun in the 4th quarter valued at approximately $221,000. Zweig DiMenna Associates LLC lifted its holdings in shares of Sunrun by 64.8% in the 3rd quarter. Zweig DiMenna Associates LLC now owns 206,913 shares of the energy company's stock valued at $2,599,000 after buying an additional 81,363 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Sunrun by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,405,097 shares of the energy company's stock valued at $243,728,000 after buying an additional 126,321 shares during the period. Deutsche Bank AG lifted its holdings in shares of Sunrun by 112.9% in the 3rd quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company's stock valued at $27,969,000 after buying an additional 1,180,823 shares during the period. Finally, Jump Financial LLC lifted its holdings in shares of Sunrun by 87.8% in the 3rd quarter. Jump Financial LLC now owns 97,123 shares of the energy company's stock valued at $1,220,000 after buying an additional 45,412 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Stock Down 2.0 %

The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26. The firm has a fifty day moving average price of $12.22 and a 200 day moving average price of $13.20. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -1.36 and a beta of 2.46.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($1.20). The firm had revenue of $516.59 million during the quarter, compared to analysts' expectations 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, sell-side analysts expect that Sunrun Inc. will post -1.74 EPS for the current fiscal year.

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.