Sunrun (NASDAQ:RUN) Shares Down 6.7% - What's Next?

Key Points

• Sunrun Inc. shares dropped by 6.7% during mid-day trading, with the stock trading at $11.19, significantly below its previous closing price of $12.00.
• Analysts express mixed sentiment with a consensus rating of "Hold" and a target price of $13.97, while research reports show varied price targets ranging from $6.00 to $15.00.
• In recent transactions, both the CFO and CEO of Sunrun sold shares, indicating insider activity, while institutional investors notably increased their stakes in the company.

Shares of Sunrun Inc. (NASDAQ:RUN - Get Free Report) traded down 6.7% during mid-day trading on Friday . The company traded as low as $11.27 and last traded at $11.19. 4,620,601 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 16,750,824 shares. The stock had previously closed at $12.00.

Wall Street Analysts Forecast Growth

RUN has been the topic of a number of research reports. Truist Financial restated a "hold" rating and set a $6.00 price target (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 report on Wednesday, April 23rd. The Goldman Sachs Group raised their price target on Sunrun from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, May 19th. BNP Paribas raised Sunrun from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Finally, Jefferies Financial Group upgraded shares of Sunrun from an "underperform" rating to a "hold" rating and raised their price objective for the company from $5.00 to $11.00 in a research report on Wednesday, July 9th. Two equities research 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. Based on data from MarketBeat.com, Sunrun has an average rating of "Hold" and a consensus target price of $13.97.

Sunrun Stock Down 1.9%

The stock has a market capitalization of $2.69 billion, a P/E ratio of -1.01 and a beta of 2.37. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 3.89. The firm's fifty day moving average is $9.18 and its 200-day moving average is $8.27.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its earnings results on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $1.25. Sunrun had a negative net margin of 120.59% and a positive return on equity of 13.61%. The company had revenue of $569.34 million during the quarter, compared to the consensus estimate of $555.42 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The company's revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts predict that Sunrun Inc. will post -0.43 earnings per share for the current year.

Insider Activity

In related news, CFO Danny Abajian sold 8,909 shares of the business'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 $96,217.20. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mary Powell sold 11,509 shares of the company'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 completion of the transaction, the chief executive officer owned 893,240 shares of the company's stock, valued at $9,646,992. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,939 shares of company stock valued at $430,264. 3.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently modified their holdings of RUN. Alyeska Investment Group L.P. grew its stake in Sunrun by 593.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock worth $111,263,000 after buying an additional 10,294,947 shares in the last quarter. PGGM Investments grew its stake in Sunrun by 316.6% during the second quarter. PGGM Investments now owns 7,007,258 shares of the energy company's stock worth $57,319,000 after buying an additional 5,325,332 shares in the last quarter. Greenvale Capital LLP grew its stake in Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after buying an additional 4,516,793 shares in the last quarter. Sylebra Capital LLC lifted its holdings in shares of Sunrun by 124.0% in the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock worth $61,819,000 after acquiring an additional 3,699,405 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. lifted its holdings in shares of Sunrun by 92.8% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 3,597,600 shares of the energy company's stock worth $33,278,000 after acquiring an additional 1,732,000 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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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