Sunrun (NASDAQ:RUN) Sets New 52-Week Low - Here's Why

Key Points

• Sunrun shares hit a new 52-week low of $7.45 and last traded at $7.61, well below the 50-day and 200-day moving averages of $9.00 and $11.66, respectively.
• Analysts have recently lowered their price targets, with a consensus rating of “Hold” and an average target price of $16.70; however, 12 analysts still rate the stock a Buy.
• Sunrun exceeded quarterly expectations, reporting $0.42 in EPS versus $0.23 expected and $869.99 million in revenue, up 52.8% year over year. Two insiders also sold shares under pre-arranged trading plans.

Shares of Sunrun Inc. (NASDAQ:RUN - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $7.45 and last traded at $7.61, with a volume of 9477917 shares trading hands. The stock had previously closed at $7.71.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RUN shares. Citigroup dropped their target price on Sunrun from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Susquehanna dropped their price objective 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. Weiss Ratings lowered shares of Sunrun from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, September 24th. Roth Capital restated a "buy" rating on shares of Sunrun in a research note on Thursday, July 9th. Finally, TD Cowen cut their price objective on Sunrun from $21.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $16.70.

Sunrun Stock Down 1.3%

The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 5.14 and a beta of 2.44. The firm has a 50-day moving average price of $9.00 and a two-hundred day moving average price of $11.66.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly 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. The firm had revenue of $869.99 million during the quarter, compared to the consensus estimate of $746.87 million. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The firm's quarterly revenue was up 52.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 earnings per share. On average, sell-side analysts forecast that Sunrun Inc. will post 1.19 earnings per share for the current year.

Insider Buying and Selling at Sunrun

In other news, Director Lynn Jurich sold 50,000 shares of the company's 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 in the company, valued at approximately $3,659,353.80. This represents a 11.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maria Barak sold 3,278 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $12.17, for a total transaction of $39,893.26. Following the completion of the transaction, the chief accounting officer directly owned 90,033 shares in the company, valued at $1,095,701.61. This trade represents a 3.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.55% of the company's stock.

Hedge Funds Weigh In On Sunrun

Hedge funds have recently made changes to their positions in the company. U S Wealth Group LLC. increased its position in shares of Sunrun by 23.1% during the second quarter. U S Wealth Group LLC. now owns 95,946 shares of the energy company's stock worth $1,284,000 after purchasing an additional 18,006 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Sunrun during the second quarter worth approximately $594,000. Engineers Gate Manager LP acquired a new position in Sunrun during the second quarter worth approximately $328,000. Nykredit A S purchased a new stake in Sunrun in the second quarter valued at approximately $78,000. Finally, Amundi lifted its stake in Sunrun by 3.9% in the second quarter. Amundi now owns 3,428,504 shares of the energy company's stock valued at $45,845,000 after buying an additional 127,878 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

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.

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