Sunrun (NASDAQ:RUN) Shares Down 7.9% - Here's Why

Key Points

• Sunrun shares fell 7.9% on Monday, with the stock trading as low as $15.41 after closing at $16.72 the prior session.
• Several analysts recently cut price targets on the stock, including Mizuho, JPMorgan, and Barclays, though the consensus rating remains Moderate Buy with an average target price of $18.48.
• Despite the stock weakness, Sunrun reported a strong quarterly beat, posting EPS of $0.62 versus an expected loss and revenue of $722.23 million, up 43.2% year over year.

Sunrun Inc. (NASDAQ:RUN - Get Free Report)'s share price was down 7.9% on Monday . The stock traded as low as $15.41 and last traded at $15.4030. Approximately 7,053,990 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 9,245,966 shares. The stock had previously closed at $16.72.

Analyst Ratings Changes

Several research analysts recently weighed in on RUN shares. Mizuho lowered their price objective on Sunrun from $25.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, March 2nd. JPMorgan Chase & Co. lowered their price objective on Sunrun from $25.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, April 16th. Wall Street Zen lowered Sunrun from a "hold" rating to a "sell" rating in a research report on Saturday, April 25th. The Goldman Sachs Group reiterated a "buy" rating and issued a $18.00 price objective on shares of Sunrun in a research report on Thursday, May 7th. Finally, Barclays lowered their price objective on Sunrun from $23.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $18.48.

Sunrun Stock Down 8.2%

The company has a debt-to-equity ratio of 3.44, a current ratio of 1.45 and a quick ratio of 1.09. The business has a 50 day simple moving average of $13.40 and a 200 day simple moving average of $16.33. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 7.20 and a beta of 2.32.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.67. The business had revenue of $722.23 million for the quarter, compared to analysts' expectations of $688.50 million. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The company's revenue for the quarter was up 43.2% compared to the same quarter last year. During the same period last year, the firm earned $0.20 earnings per share. As a group, equities analysts predict that Sunrun Inc. will post 1.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $12.89, for a total value of $644,500.00. Following the sale, the director directly owned 507,947 shares in the company, valued at approximately $6,547,436.83. This trade represents a 8.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maria Barak sold 8,039 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $13.67, for a total value of $109,893.13. Following the completion of the sale, the chief accounting officer owned 72,963 shares in the company, valued at approximately $997,404.21. The trade was a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 648,868 shares of company stock valued at $8,616,016. 3.55% of the stock is owned by company insiders.

Institutional Trading of Sunrun

Several hedge funds have recently modified their holdings of the stock. Salomon & Ludwin LLC raised its stake in shares of Sunrun by 49.2% in the fourth quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company's stock valued at $31,000 after acquiring an additional 558 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Sunrun by 59.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company's stock valued at $28,000 after buying an additional 564 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Sunrun by 3.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,481 shares of the energy company's stock valued at $322,000 after buying an additional 565 shares during the last quarter. Sage Rhino Capital LLC increased its holdings in Sunrun by 5.2% in the fourth quarter. Sage Rhino Capital LLC now owns 11,468 shares of the energy company's stock valued at $211,000 after buying an additional 572 shares during the last quarter. Finally, Crestwood Advisors Group LLC increased its holdings in Sunrun by 1.9% in the third quarter. Crestwood Advisors Group LLC now owns 35,158 shares of the energy company's stock valued at $608,000 after buying an additional 644 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Company Profile

Sunrun, Inc NASDAQ: RUN is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun's network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.