Sunrun (NASDAQ:RUN) Shares Down 4.2% - Here's Why

Sunrun Inc. (NASDAQ:RUN - Get Free Report)'s stock price traded down 4.2% during trading on Friday . The company traded as low as $7.45 and last traded at $7.43. 4,219,893 shares were traded during trading, a decline of 68% from the average session volume of 13,117,087 shares. The stock had previously closed at $7.75.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley reissued an "equal weight" rating and set a $11.00 price target on shares of Sunrun in a research report on Wednesday, April 23rd. TD Cowen dropped their price objective on Sunrun from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, February 28th. BNP Paribas Exane downgraded shares of Sunrun from an "outperform" rating to a "neutral" rating and set a $10.00 target price for the company. in a research note on Thursday, May 22nd. BMO Capital Markets cut shares of Sunrun from a "hold" rating to a "strong sell" rating and decreased their price target for the stock from $9.00 to $4.00 in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada downgraded shares of Sunrun from an "outperform" rating to a "sector perform" rating and lowered their price target for the stock from $12.00 to $5.00 in a report on Wednesday, June 18th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Sunrun presently has an average rating of "Hold" and an average price target of $13.26.

Sunrun Price Performance

The company's fifty day moving average is $8.14 and its 200 day moving average is $8.24. The company has a quick ratio of 0.99, a current ratio of 1.32 and a debt-to-equity ratio of 3.89. The stock has a market cap of $1.71 billion, a PE ratio of -0.62 and a beta of 2.61.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) 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%. The business's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.40) earnings per share. As a group, sell-side analysts anticipate that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Activity at Sunrun

In related news, CRO Paul S. Dickson sold 19,343 shares of the firm's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $130,371.82. Following the completion of the sale, the executive now directly owns 399,729 shares of the company's stock, valued at approximately $2,694,173.46. This trade represents a 4.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Danny Abajian sold 16,927 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $114,087.98. Following the completion of the transaction, the chief financial officer now owns 231,279 shares in the company, valued at $1,558,820.46. This represents a 6.82% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 88,993 shares of company stock worth $612,979. Corporate insiders own 3.37% of the company's stock.

Institutional Trading of Sunrun

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

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.

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