Sunrun (NASDAQ:RUN) Shares Down 5.2% Following Insider Selling

Sunrun Inc. (NASDAQ:RUN) was down 5.2% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $8.81 and last traded at $8.75. Approximately 3,471,261 shares were traded during trading, a decline of 63% from the average daily volume of 9,448,895 shares. The stock had previously closed at $9.22.

Specifically, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $9.59, for a total value of $479,500.00. Following the completion of the transaction, the director now owns 991,753 shares of the company’s stock, valued at approximately $9,510,911.27. This represents a 4.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RUN. TD Cowen assumed coverage on shares of Sunrun in a report on Thursday, December 19th. They issued a “buy” rating and a $21.00 price objective on the stock. Truist Financial reiterated a “hold” rating and set a $12.00 price objective (down previously from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. Barclays reduced their price target on Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. Jefferies Financial Group dropped their price target on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Finally, Susquehanna reduced their price objective on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.31.

Sunrun Stock Performance

The company has a market cap of $1.96 billion, a PE ratio of -4.83 and a beta of 2.58. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The business’s 50 day moving average is $10.29 and its two-hundred day moving average is $14.64.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Thursday, November 7th. The energy company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.21). The business had revenue of $537.17 million during the quarter, compared to the consensus estimate of $560.60 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. During the same quarter in the previous year, the company earned $0.40 earnings per share. On average, equities research analysts anticipate that Sunrun Inc. will post -0.41 EPS for the current year.

Institutional Investors Weigh In On Sunrun

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its position in Sunrun by 1,706.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,638 shares in the last quarter. Blue Trust Inc. grew its stake in Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after purchasing an additional 1,465 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sunrun during the third quarter valued at about $44,000. Union Bancaire Privee UBP SA purchased a new position in shares of Sunrun in the 4th quarter worth approximately $56,000. Finally, Waldron Private Wealth LLC purchased a new stake in Sunrun during the third quarter valued at approximately $135,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.