Sunrun (NASDAQ:RUN) Trading Down 5.3% - Here's What Happened

Shares of Sunrun Inc. (NASDAQ:RUN - Get Free Report) were down 5.3% during trading on Tuesday . The stock traded as low as $7.11 and last traded at $7.10. Approximately 2,217,858 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 10,690,466 shares. The stock had previously closed at $7.50.

Wall Street Analysts Forecast Growth

RUN has been the subject of several research analyst reports. Jefferies Financial Group cut shares of Sunrun from a "buy" rating to a "hold" rating and cut their target price for the company from $14.00 to $8.00 in a research note on Wednesday, March 12th. Susquehanna decreased their target price on Sunrun from $13.00 to $10.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. cut their price target on Sunrun from $22.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. TD Cowen decreased their price objective on Sunrun from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Finally, BNP Paribas raised shares of Sunrun from a "neutral" rating to an "outperform" rating and set a $16.00 target price for the company in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Sunrun presently has a consensus rating of "Hold" and a consensus target price of $14.92.

Sunrun Stock Performance

The firm has a 50-day moving average price of $6.81 and a two-hundred day moving average price of $9.41. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The firm has a market capitalization of $1.65 billion, a P/E ratio of -4.00 and a beta of 2.74.

Insider Activity at Sunrun

In other Sunrun news, insider Jeanna Steele sold 9,942 shares of Sunrun stock in a transaction on 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 $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 is available at this hyperlink. Also, Director Edward Harris Fenster purchased 150,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the transaction, the director now directly owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. This represents a 12.42 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 138,540 shares of company stock worth $1,050,944 in the last 90 days. 3.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently modified their holdings of RUN. KLP Kapitalforvaltning AS purchased a new stake in Sunrun during the fourth quarter worth $402,000. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Sunrun in the 4th quarter worth $18,500,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Sunrun by 7.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company's stock worth $21,511,000 after purchasing an additional 155,311 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in Sunrun during the fourth quarter valued at about $403,000. Finally, Principal Financial Group Inc. grew its stake in Sunrun by 33.7% in the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company's stock valued at $26,385,000 after purchasing an additional 367,835 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.