Sunrun (NASDAQ:RUN) Shares Down 8.4% on Analyst Downgrade

Shares of Sunrun Inc. (NASDAQ:RUN - Get Free Report) fell 8.4% during trading on Wednesday after Jefferies Financial Group lowered their price target on the stock from $7.00 to $6.00. Jefferies Financial Group currently has a hold rating on the stock. Sunrun traded as low as $6.59 and last traded at $6.58. 5,456,016 shares were traded during mid-day trading, a decline of 53% from the average session volume of 11,644,169 shares. The stock had previously closed at $7.19.

Several other brokerages have also recently issued reports on RUN. Barclays lowered their price objective on shares of Sunrun from $18.00 to $15.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. UBS Group reissued a "buy" rating and set a $17.00 price objective on shares of Sunrun in a research note on Wednesday, May 14th. The Goldman Sachs Group boosted their price objective on shares of Sunrun from $12.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Roth Capital set a $20.00 price objective on shares of Sunrun in a research note on Friday, February 28th. Finally, Royal Bank of Canada lowered their price objective on shares of Sunrun from $14.00 to $12.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $14.38.

Insider Transactions at Sunrun

In other news, insider Jeanna Steele sold 9,942 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $67,009.08. Following the completion of the sale, the insider now owns 291,238 shares of the company's stock, valued at approximately $1,962,944.12. The trade was a 3.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward Harris Fenster bought 50,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $10.87 per share, with a total value of $543,500.00. Following the transaction, the director now directly owns 1,408,182 shares in the company, valued at approximately $15,306,938.34. The trade was a 3.68% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 88,540 shares of company stock valued at $595,944. Insiders own 3.37% of the company's stock.

Institutional Investors Weigh In On Sunrun

A number of institutional investors have recently modified their holdings of RUN. SG Americas Securities LLC grew its position in shares of Sunrun by 40.4% during the 4th quarter. SG Americas Securities LLC now owns 74,893 shares of the energy company's stock valued at $693,000 after buying an additional 21,533 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Sunrun during the 4th quarter valued at about $118,000. Union Bancaire Privee UBP SA bought a new stake in shares of Sunrun during the 4th quarter valued at about $56,000. Swedbank AB grew its position in shares of Sunrun by 12.8% during the 4th quarter. Swedbank AB now owns 218,911 shares of the energy company's stock valued at $2,025,000 after buying an additional 24,792 shares during the last quarter. Finally, Alterna Wealth Management Inc. bought a new stake in shares of Sunrun during the 4th quarter valued at about $96,000. Institutional investors own 91.69% of the company's stock.

Sunrun Trading Up 1.5%

The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The business's 50-day moving average is $7.60 and its two-hundred day moving average is $8.66. The firm has a market cap of $1.57 billion, a P/E ratio of -3.76 and a beta of 2.66.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings data 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 18.80% and a negative return on equity of 5.15%. The business had revenue of $504.27 million during the quarter, compared to the consensus estimate of $487.29 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, analysts expect that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

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.