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

Sunrun Inc. (NASDAQ:RUN - Get Free Report) was down 4.2% during trading on Friday . The company traded as low as $10.52 and last traded at $10.41. Approximately 2,061,453 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 13,531,963 shares. The stock had previously closed at $10.87.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RUN. Glj Research downgraded Sunrun from a "hold" rating to a "sell" rating in a research report on Tuesday, June 17th. KeyCorp upgraded Sunrun from an "underweight" rating to a "sector weight" rating in a report on Tuesday, July 8th. Truist Financial reiterated a "hold" rating and set a $6.00 price target (down from $9.00) on shares of Sunrun in a report on Wednesday, April 16th. BNP Paribas upgraded Sunrun from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Sunrun from $10.00 to $8.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Sunrun presently has an average rating of "Hold" and a consensus target price of $14.30.

Sunrun Stock Performance

The firm's 50 day moving average is $8.72 and its 200 day moving average is $8.19. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.99 and a current ratio of 1.32. The stock has a market cap of $2.37 billion, a P/E ratio of -0.85 and a beta of 2.60.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings results 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. Sunrun had a negative net margin of 129.97% and a positive return on equity of 9.42%. The business had revenue of $504.27 million for the quarter, compared to analyst estimates of $487.29 million. During the same period in the previous year, the company earned ($0.40) earnings per share. The business's revenue for the quarter was up 10.1% on a year-over-year basis. Analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current year.

Insider Activity at Sunrun

In related news, Director Edward Harris Fenster acquired 50,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were purchased at an average cost of $10.87 per share, with a total value of $543,500.00. Following the completion of the acquisition, the director directly owned 1,408,182 shares of the company's stock, valued at $15,306,938.34. This represents a 3.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Danny Abajian sold 8,909 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $10.80, for a total value of $96,217.20. Following the sale, the chief financial officer owned 446,797 shares in the company, valued at approximately $4,825,407.60. The trade was a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,939 shares of company stock worth $430,264 over the last ninety days. Corporate insiders own 3.37% of the company's stock.

Hedge Funds Weigh In On Sunrun

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of Sunrun by 41.5% in the second quarter. GAMMA Investing LLC now owns 17,364 shares of the energy company's stock worth $142,000 after buying an additional 5,095 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in Sunrun by 33.3% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 20,000 shares of the energy company's stock worth $164,000 after purchasing an additional 5,000 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of Sunrun during the 2nd quarter worth approximately $118,000. Focus Partners Wealth increased its holdings in shares of Sunrun by 21.2% during the 1st quarter. Focus Partners Wealth now owns 12,702 shares of the energy company's stock valued at $74,000 after purchasing an additional 2,226 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Sunrun by 14.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 760,758 shares of the energy company's stock valued at $4,458,000 after purchasing an additional 98,547 shares in the last quarter. 91.69% of the stock is 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.