Sunrun (NASDAQ:RUN) Trading Down 8.2% – Here’s What Happened

Sunrun Inc. (NASDAQ:RUN) shares were down 8.2% during trading on Tuesday . The company traded as low as $16.70 and last traded at $16.7420. Approximately 2,247,940 shares traded hands during trading, a decline of 64% from the average daily volume of 6,261,246 shares. The stock had previously closed at $18.23.

Analyst Ratings Changes

A number of research analysts have commented on the company. Raymond James Financial initiated coverage on Sunrun in a report on Monday, January 12th. They set a “market perform” rating on the stock. Oppenheimer upped their price objective on shares of Sunrun from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Jefferies Financial Group upgraded shares of Sunrun from a “hold” rating to a “buy” rating and raised their price objective for the company from $11.00 to $21.00 in a research note on Wednesday, October 1st. Wells Fargo & Company upped their target price on Sunrun from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Finally, TD Cowen lifted their price target on Sunrun from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Sunrun has a consensus rating of “Moderate Buy” and a consensus price target of $19.70.

Sunrun Stock Performance

The firm’s 50-day moving average price is $18.61 and its two-hundred day moving average price is $16.62. The company has a quick ratio of 1.06, a current ratio of 1.46 and a debt-to-equity ratio of 3.67. The firm has a market capitalization of $3.88 billion, a PE ratio of -1.50 and a beta of 2.35.

Sunrun (NASDAQ:RUN) last issued its earnings results on Thursday, November 6th. The energy company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. The business had revenue of $724.56 million during the quarter, compared to analysts’ expectations of $601.15 million. Sunrun had a positive return on equity of 19.34% and a negative net margin of 106.50%.Sunrun’s revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.37) earnings per share. As a group, research analysts predict that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Paul S. Dickson sold 6,119 shares of Sunrun stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total transaction of $108,918.20. Following the sale, the executive owned 639,110 shares of the company’s stock, valued at approximately $11,376,158. This trade represents a 0.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mary Powell sold 8,754 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total transaction of $155,821.20. Following the completion of the sale, the chief executive officer directly owned 864,946 shares in the company, valued at approximately $15,396,038.80. The trade was a 1.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 354,956 shares of company stock worth $6,725,832 in the last quarter. Corporate insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently bought and sold shares of RUN. Sycomore Asset Management bought a new stake in Sunrun during the 3rd quarter worth about $28,000. Optiver Holding B.V. acquired a new position in Sunrun during the third quarter valued at approximately $31,000. Advisory Services Network LLC bought a new position in Sunrun in the third quarter valued at approximately $38,000. Resources Management Corp CT ADV increased its position in shares of Sunrun by 1,085.3% during the 3rd quarter. Resources Management Corp CT ADV now owns 2,252 shares of the energy company’s stock worth $39,000 after purchasing an additional 2,062 shares during the last quarter. Finally, First Pacific Financial raised its stake in shares of Sunrun by 72.4% during the 4th quarter. First Pacific Financial now owns 2,381 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.