Sunrun (NASDAQ:RUN) Trading Down 9.7% After Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN) shares traded down 9.7% on Friday after Wells Fargo & Company lowered their price target on the stock from $20.00 to $15.00. Wells Fargo & Company currently has an overweight rating on the stock. Sunrun traded as low as $10.47 and last traded at $10.48. 3,964,772 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 11,875,731 shares. The stock had previously closed at $11.60.

Other research analysts have also recently issued research reports about the stock. Truist Financial restated a “hold” rating and set a $18.00 price target (up previously from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. UBS Group increased their price objective on Sunrun from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Susquehanna reduced their target price on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. StockNews.com raised shares of Sunrun to a “sell” rating in a report on Friday, September 27th. Finally, Roth Mkm dropped their price objective on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Sunrun has a consensus rating of “Hold” and a consensus price target of $21.33.

Insider Buying and Selling

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $14.60, for a total transaction of $730,000.00. Following the completion of the transaction, the director now directly owns 1,142,446 shares of the company’s stock, valued at $16,679,711.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jeanna Steele sold 2,357 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $18.23, for a total value of $42,968.11. Following the completion of the sale, the insider now owns 308,260 shares of the company’s stock, valued at approximately $5,619,579.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $14.60, for a total transaction of $730,000.00. Following the sale, the director now directly owns 1,142,446 shares in the company, valued at $16,679,711.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,840 shares of company stock valued at $2,755,487. Company insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RUN. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Sunrun by 142.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,702 shares of the energy company’s stock valued at $3,199,000 after purchasing an additional 142,563 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Sunrun by 181.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,361 shares of the energy company’s stock valued at $84,000 after acquiring an additional 4,103 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of Sunrun by 1.7% in the first quarter. Texas Permanent School Fund Corp now owns 190,321 shares of the energy company’s stock valued at $2,508,000 after acquiring an additional 3,133 shares in the last quarter. Manchester Capital Management LLC grew its position in shares of Sunrun by 53.3% during the 1st quarter. Manchester Capital Management LLC now owns 4,873 shares of the energy company’s stock worth $64,000 after purchasing an additional 1,695 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in Sunrun by 98.9% during the 1st quarter. Quantbot Technologies LP now owns 195,357 shares of the energy company’s stock worth $2,575,000 after acquiring an additional 97,125 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Stock Performance

The stock has a market cap of $2.22 billion, a P/E ratio of -1.59 and a beta of 2.61. 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 stock has a 50 day simple moving average of $16.80 and a 200 day simple moving average of $15.39.

Sunrun (NASDAQ:RUN) last released its earnings results on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $516.76 million. During the same period last year, the firm earned $0.25 EPS. The business’s quarterly revenue was down 11.2% compared to the same quarter last year. On average, equities analysts expect that Sunrun Inc. will post -0.17 earnings per share for the current year.

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.