Sunrun (NASDAQ:RUN) Stock Price Down 3.4% - Here's Why

Sunrun Inc. (NASDAQ:RUN - Get Free Report)'s share price dropped 3.4% during trading on Wednesday . The stock traded as low as $7.93 and last traded at $8.00. Approximately 2,883,516 shares were traded during trading, a decline of 76% from the average daily volume of 11,849,188 shares. The stock had previously closed at $8.28.

Analyst Ratings Changes

RUN has been the subject of several analyst reports. Glj Research upgraded Sunrun from a "strong sell" rating to a "hold" rating and set a $7.78 target price for the company in a research report on Friday, May 30th. Truist Financial restated a "hold" rating and set a $6.00 target price (down previously from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Susquehanna cut their target price on Sunrun from $13.00 to $10.00 and set a "positive" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group raised their target price on Sunrun from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, BNP Paribas downgraded Sunrun from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $14.10.

Sunrun Price Performance

The stock has a market capitalization of $1.91 billion, a P/E ratio of -4.60 and a beta of 2.66. 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 company has a fifty day simple moving average of $7.72 and a two-hundred day simple moving average of $8.59.

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, topping the consensus estimate of ($0.22) by $0.42. The firm had revenue of $504.27 million during the quarter, compared to analysts' expectations of $487.29 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.40) EPS. Sell-side analysts expect that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sunrun news, insider Jeanna Steele sold 9,942 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $67,009.08. Following the completion of the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mary Powell sold 31,197 shares of the company'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 $210,267.78. Following the completion of the sale, the chief executive officer now directly owns 534,615 shares of the company's stock, valued at approximately $3,603,305.10. This trade represents a 5.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 80,138 shares of company stock valued at $540,103. 3.37% of the stock is currently owned by insiders.

Institutional Trading of Sunrun

Institutional investors and hedge funds have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd bought a new stake in shares of Sunrun in the 4th quarter valued at about $29,000. Newbridge Financial Services Group Inc. increased its stake in shares of Sunrun by 133.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company's stock valued at $32,000 after acquiring an additional 2,000 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Sunrun in the 4th quarter valued at about $53,000. Union Bancaire Privee UBP SA bought a new stake in Sunrun during the 4th quarter worth approximately $56,000. Finally, Apollon Wealth Management LLC bought a new stake in Sunrun during the 1st quarter worth approximately $60,000. 91.69% of the stock is owned by 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.