Sunrun (NASDAQ:RUN) Reaches New 12-Month Low - Here's What Happened

Sunrun Inc. (NASDAQ:RUN - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $7.49 and last traded at $7.72, with a volume of 8592511 shares traded. The stock had previously closed at $7.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Sunrun from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Citigroup reduced their target price on shares of Sunrun from $20.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. TD Cowen decreased their price target on shares of Sunrun from $21.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Susquehanna lowered their price target on shares of Sunrun from $18.00 to $15.00 and set a "positive" rating for the company in a report on Friday, August 7th. Finally, Glj Research restated a "sell" rating and issued a $4.63 price objective on shares of Sunrun in a research report on Monday, August 17th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Sunrun presently has a consensus rating of "Hold" and a consensus price target of $16.70.

Sunrun Price Performance

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 capitalization of $1.86 billion, a P/E ratio of 5.22 and a beta of 2.37. The company has a fifty day simple moving average of $9.22 and a two-hundred day simple moving average of $11.80.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.19. The company had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The company's revenue for the quarter was up 52.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 EPS. Sell-side analysts expect that Sunrun Inc. will post 1.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Mary Powell sold 23,985 shares of the company's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $316,362.15. Following the completion of the sale, the chief executive officer directly owned 1,111,535 shares of the company's stock, valued at $14,661,146.65. This represents a 2.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 16,495 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $217,569.05. Following the completion of the sale, the chief financial officer owned 420,318 shares in the company, valued at $5,543,994.42. This represents a 3.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 121,015 shares of company stock valued at $1,431,153 in the last ninety days. 3.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of Sunrun by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company's stock valued at $88,375,000 after buying an additional 165,196 shares during the period. Geode Capital Management LLC raised its stake in Sunrun by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company's stock worth $104,220,000 after buying an additional 205,627 shares during the period. Contour Asset Management LLC acquired a new stake in Sunrun during the 4th quarter worth $98,010,000. Maple Rock Capital Partners Inc. raised its stake in Sunrun by 23.1% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 3,694,548 shares of the energy company's stock worth $49,433,000 after buying an additional 692,448 shares during the period. Finally, Amundi lifted its holdings in Sunrun by 3.9% during the second quarter. Amundi now owns 3,428,504 shares of the energy company's stock worth $45,845,000 after acquiring an additional 127,878 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

About Sunrun

Sunrun Inc is a provider of residential solar energy and battery-storage solutions. The company designs, sells, installs, owns and maintains solar energy systems for homeowners, helping customers generate electricity on-site and reduce reliance on conventional utility power.

Sunrun offers solar systems through customer purchase arrangements as well as subscription-based plans, including leases and power purchase agreements. Under these arrangements, Sunrun may retain ownership of the system and provide ongoing monitoring, maintenance and customer support.

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