Sunrun (NASDAQ:RUN) Stock Price Down 3.4% on Insider Selling

Sunrun Inc. (NASDAQ:RUN) shares dropped 3.4% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $19.60 and last traded at $19.60. Approximately 4,614,452 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 12,590,811 shares. The stock had previously closed at $20.30.

Specifically, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the completion of the sale, the director now directly owns 1,192,446 shares of the company’s stock, valued at $24,087,409.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Sunrun from $16.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. UBS Group boosted their price target on shares of Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Evercore ISI cut their price target on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. StockNews.com upgraded shares of Sunrun to a “sell” rating in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Sunrun presently has an average rating of “Moderate Buy” and an average price target of $22.98.

Sunrun Trading Down 1.2 %

The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84. The company’s fifty day moving average is $18.54 and its 200-day moving average is $14.41. The firm has a market capitalization of $4.23 billion, a P/E ratio of -2.84 and a beta of 2.59.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.88. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The firm had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. During the same period in the prior year, the firm earned $0.25 EPS. The business’s revenue was down 11.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Sunrun Inc. will post -0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sunrun

A number of hedge funds have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Sunrun by 4.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 582,217 shares of the energy company’s stock valued at $6,905,000 after buying an additional 22,779 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sunrun during the 2nd quarter worth about $104,000. Sanctuary Advisors LLC acquired a new stake in shares of Sunrun during the 2nd quarter worth about $2,174,000. Cetera Investment Advisers increased its position in shares of Sunrun by 5.1% during the 2nd quarter. Cetera Investment Advisers now owns 100,017 shares of the energy company’s stock worth $1,186,000 after purchasing an additional 4,840 shares in the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new stake in shares of Sunrun during the 2nd quarter worth about $525,000. Institutional investors and hedge funds 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.