Sunrun (NASDAQ:RUN) Hits New 52-Week Low on Analyst Downgrade

Key Points

• Sunrun shares fell to a new 52-week low of $7.23 after Susquehanna cut its price target from $15 to $13, despite maintaining a positive rating.
• Analyst sentiment has weakened, with several firms lowering price targets and Wall Street Zen downgrading the stock to “sell.” The consensus rating remains “Hold,” with an average target price of $15.81.
• Sunrun reported quarterly earnings and revenue above analyst expectations, while institutional investors own 91.69% of the company. Insiders have sold 118,719 shares worth approximately $1.03 million over the past 90 days.

Sunrun Inc. (NASDAQ:RUN - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday after Susquehanna lowered their price target on the stock from $15.00 to $13.00. Susquehanna currently has a positive rating on the stock. Sunrun traded as low as $7.23 and last traded at $7.3650, with a volume of 2,169,315 shares trading hands. The stock had previously closed at $7.79.

RUN has been the topic of several other research reports. Wells Fargo & Company cut their price objective on shares of Sunrun from $22.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, August 14th. The Goldman Sachs Group lowered their target price on shares of Sunrun from $13.00 to $11.00 and set a "buy" rating for the company in a research note on Thursday, October 8th. Barclays dropped their target price on shares of Sunrun from $14.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Friday. Wall Street Zen lowered shares of Sunrun from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Mizuho set a $18.00 price target on shares of Sunrun in a report on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $15.81.

Insider Activity

In other Sunrun news, Director Lynn Jurich sold 50,000 shares of Sunrun stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $9.96, for a total value of $498,000.00. Following the completion of the transaction, the director owned 367,405 shares of the company's stock, valued at approximately $3,659,353.80. The trade was a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paul S. Dickson sold 15,837 shares of the company's stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total value of $122,895.12. Following the completion of the transaction, the executive directly owned 823,702 shares of the company's stock, valued at $6,391,927.52. The trade was a 1.89% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 118,719 shares of company stock valued at $1,031,277 over the last 90 days. Company insiders own 3.55% of the company's stock.

Institutional Investors Weigh In On Sunrun

A number of hedge funds have recently modified their holdings of RUN. Contour Asset Management LLC acquired a new position in Sunrun in the fourth quarter valued at approximately $98,010,000. Bank of America Corp DE acquired a new stake in Sunrun in the second quarter valued at approximately $29,953,000. Bank of New York Mellon Corp purchased a new stake in Sunrun during the 2nd quarter worth about $18,120,000. Amundi lifted its position in shares of Sunrun by 56.3% during the 1st quarter. Amundi now owns 3,300,626 shares of the energy company's stock worth $44,798,000 after buying an additional 1,188,564 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Sunrun in the 2nd quarter valued at about $12,483,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Stock Performance

The stock's 50 day moving average is $8.73 and its two-hundred day moving average is $11.45. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 4.99 and a beta of 2.44.

Sunrun (NASDAQ:RUN - Get Free Report) last released its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%. The business had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. During the same quarter in the previous year, the company posted $1.07 earnings per share. The company's revenue for the quarter was up 52.8% compared to the same quarter last year. Analysts anticipate that Sunrun Inc. will post 1.16 earnings per share for the current fiscal year.

About Sunrun

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.