Sunrun (NASDAQ:RUN) Trading Down 3.6%

Sunrun Inc. (NASDAQ:RUN)’s stock price traded down 3.6% on Monday . The stock traded as low as $17.08 and last traded at $17.21. 1,653,633 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 13,423,924 shares. The stock had previously closed at $17.86.

Analyst Ratings Changes

Several brokerages recently commented on RUN. Morgan Stanley raised their price objective on shares of Sunrun from $24.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Piper Sandler raised their price objective on shares of Sunrun from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Jefferies Financial Group reduced their price objective on shares of Sunrun from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Mizuho reduced their price objective on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Finally, Barclays raised their price objective on shares of Sunrun from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.42.

Sunrun Trading Down 8.6 %

The business’s 50-day moving average price is $14.06 and its two-hundred day moving average price is $13.12. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.31 and a quick ratio of 0.99. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of -2.49 and a beta of 2.61.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The business had revenue of $458.20 million during the quarter, compared to analyst estimates of $471.38 million. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The company’s revenue was down 22.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.12) earnings per share. Equities analysts expect that Sunrun Inc. will post -1.25 earnings per share for the current year.

Insider Activity at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the sale, the director now directly owns 1,294,383 shares in the company, valued at $21,913,904.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $16.93, for a total value of $846,500.00. Following the completion of the sale, the director now directly owns 1,294,383 shares in the company, valued at $21,913,904.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeanna Steele sold 2,513 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $12.61, for a total transaction of $31,688.93. Following the sale, the insider now owns 312,774 shares of the company’s stock, valued at $3,944,080.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 255,712 shares of company stock worth $3,706,261. 3.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunrun

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Sunrun by 14.0% during the first quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after buying an additional 2,743,148 shares during the period. Greenvale Capital LLP grew its stake in Sunrun by 15.3% during the fourth quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock worth $162,929,000 after buying an additional 1,100,000 shares during the period. Robeco Schweiz AG grew its stake in Sunrun by 23.5% during the first quarter. Robeco Schweiz AG now owns 4,611,300 shares of the energy company’s stock worth $60,777,000 after buying an additional 876,000 shares during the period. Dimensional Fund Advisors LP grew its stake in Sunrun by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,781,951 shares of the energy company’s stock worth $54,617,000 after buying an additional 179,688 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Sunrun by 36.0% during the fourth quarter. First Trust Advisors LP now owns 2,172,728 shares of the energy company’s stock worth $42,651,000 after purchasing an additional 575,293 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.