Sunrun (NASDAQ:RUN) Shares Down 4.2% - Should You Sell?

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Mizuho set a $13.00 price objective on Sunrun and gave the company an "outperform" rating in a research note on Monday, June 2nd. BNP Paribas raised Sunrun from a "hold" rating to a "strong-buy" rating in a research note on Monday. Truist Financial reaffirmed a "hold" rating and set a $6.00 price objective (down from $9.00) on shares of Sunrun in a research note on Wednesday, April 16th. Morgan Stanley reaffirmed an "equal weight" rating and set a $11.00 price objective on shares of Sunrun in a research note on Wednesday, April 23rd. Finally, BMO Capital Markets cut Sunrun from a "hold" rating to a "strong sell" rating and reduced their price objective for the company from $9.00 to $4.00 in a research note on Thursday, May 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $13.97.

Sunrun Stock Performance

The company has a market capitalization of $2.31 billion, a PE ratio of -0.83 and a beta of 2.60. The business's fifty day moving average is $8.67 and its two-hundred day moving average is $8.22. The company has a current ratio of 1.32, a quick ratio of 0.99 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, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $487.29 million. During the same period in the previous year, the business earned ($0.40) EPS. The company's quarterly revenue was up 10.1% compared to the same quarter last year. Equities research analysts predict that Sunrun Inc. will post -0.43 earnings per share for the current year.

Insider Activity

In related news, insider Jeanna Steele sold 3,668 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $10.80, for a total value of $39,614.40. Following the completion of the transaction, the insider owned 439,620 shares of the company's stock, valued at approximately $4,747,896. This represents a 0.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward Harris Fenster bought 50,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $10.87 per share, with a total value of $543,500.00. Following the acquisition, the director directly owned 1,408,182 shares in the company, valued at $15,306,938.34. This trade represents a 3.68% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 41,939 shares of company stock worth $430,264. Company insiders own 3.37% of the company's stock.

Institutional Trading of Sunrun

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in shares of Sunrun by 7.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company's stock worth $21,511,000 after acquiring an additional 155,311 shares during the period. Raymond James Financial Inc. bought a new position in shares of Sunrun during the fourth quarter valued at approximately $867,000. Wealthfront Advisers LLC acquired a new stake in Sunrun in the fourth quarter valued at approximately $307,000. Swiss National Bank boosted its stake in Sunrun by 1.6% in the fourth quarter. Swiss National Bank now owns 439,700 shares of the energy company's stock valued at $4,067,000 after acquiring an additional 7,000 shares in the last quarter. Finally, Erste Asset Management GmbH boosted its stake in Sunrun by 16.3% in the fourth quarter. Erste Asset Management GmbH now owns 4,789,213 shares of the energy company's stock valued at $47,302,000 after acquiring an additional 672,049 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Sunrun Company Profile

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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