Sunrun (NASDAQ:RUN) Trading Down 4% - Here's Why

Sunrun Inc. (NASDAQ:RUN - Get Free Report)'s stock price dropped 4% on Wednesday . The stock traded as low as $10.95 and last traded at $10.72. Approximately 4,402,930 shares were traded during trading, a decline of 67% from the average daily volume of 13,450,261 shares. The stock had previously closed at $11.16.

Analyst Ratings Changes

RUN has been the topic of several research analyst reports. Morgan Stanley reissued an "equal weight" rating and set a $11.00 target price on shares of Sunrun in a research report on Wednesday, April 23rd. KeyCorp raised shares of Sunrun from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. UBS Group dropped their price objective on shares of Sunrun from $17.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Jefferies Financial Group raised shares of Sunrun from an "underperform" rating to a "hold" rating and upped their price objective for the company from $5.00 to $11.00 in a report on Wednesday, July 9th. Finally, Wells Fargo & Company dropped their price objective on shares of Sunrun from $10.00 to $8.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $14.30.

Sunrun Price Performance

The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -0.89 and a beta of 2.60. The stock's 50-day moving average price is $8.86 and its 200 day moving average price is $8.25. The company has a quick ratio of 0.99, a current ratio of 1.32 and a debt-to-equity ratio of 3.89.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.42. The company had revenue of $504.27 million during the quarter, compared to analyst estimates of $487.29 million. Sunrun had a negative net margin of 129.97% and a positive return on equity of 9.42%. Sunrun's revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.40) earnings per share. Equities research analysts expect that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sunrun news, CEO Mary Powell sold 11,509 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $10.80, for a total transaction of $124,297.20. Following the sale, the chief executive officer owned 893,240 shares of the company's stock, valued at approximately $9,646,992. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Danny Abajian sold 8,909 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $10.80, for a total transaction of $96,217.20. Following the transaction, the chief financial officer owned 446,797 shares in the company, valued at approximately $4,825,407.60. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,939 shares of company stock valued at $430,264. 3.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunrun

Hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Sunrun during the 4th quarter worth $29,000. Summit Securities Group LLC acquired a new position in Sunrun during the fourth quarter worth approximately $53,000. Apollon Wealth Management LLC acquired a new stake in Sunrun during the 1st quarter worth approximately $60,000. US Bancorp DE increased its position in Sunrun by 107.6% during the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock worth $60,000 after purchasing an additional 5,342 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in Sunrun by 807.5% in the 4th quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company's stock worth $64,000 after acquiring an additional 6,129 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.