Sunrun (NASDAQ:RUN) Stock Price Down 5.3% - What's Next?

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

Analysts Set New Price Targets

Several research analysts recently weighed in on RUN shares. BMO Capital Markets dropped their price objective on shares of Sunrun from $11.00 to $9.00 and set a "market perform" rating for the company in a research report on Monday, March 3rd. BNP Paribas upgraded Sunrun from a "neutral" rating to an "outperform" rating and set a $16.00 target price for the company in a research report on Tuesday, January 7th. Barclays decreased their price target on Sunrun from $18.00 to $15.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. Jefferies Financial Group lowered Sunrun from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $14.00 to $8.00 in a research report on Wednesday, March 12th. Finally, Truist Financial restated a "hold" rating and set a $6.00 target price (down from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Sunrun presently has a consensus rating of "Hold" and a consensus target price of $14.92.

Sunrun Stock Performance

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 company has a market cap of $1.67 billion, a price-to-earnings ratio of -4.01 and a beta of 2.66. The stock has a 50-day moving average price of $6.71 and a 200 day moving average price of $9.23.

Insiders Place Their Bets

In related news, CRO Paul S. Dickson sold 19,343 shares of the company'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 $130,371.82. Following the sale, the executive now owns 399,729 shares in the company, valued at approximately $2,694,173.46. This represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.10, for a total value of $455,000.00. Following the sale, the director now owns 941,753 shares in the company, valued at approximately $8,569,952.30. This represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 138,540 shares of company stock worth $1,050,944. Company insiders own 3.77% of the company's stock.

Institutional Trading of Sunrun

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Sunrun during the 4th quarter worth about $29,000. Newbridge Financial Services Group Inc. grew its holdings in Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company's stock worth $32,000 after purchasing an additional 2,000 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Sunrun during the third quarter worth approximately $44,000. Summit Securities Group LLC bought a new stake in Sunrun in the fourth quarter valued at approximately $53,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Sunrun in the fourth quarter valued at approximately $56,000. 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.