Sunrun (NASDAQ:RUN) CFO Sells $129,855.84 in Stock

Sunrun Inc. (NASDAQ:RUN) CFO Danny Abajian sold 16,734 shares of Sunrun stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total transaction of $129,855.84. Following the transaction, the chief financial officer directly owned 386,532 shares in the company, valued at $2,999,488.32. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sunrun Trading Down 2.1%

Shares of Sunrun stock traded down $0.16 during trading on Wednesday, reaching $7.61. The company’s stock had a trading volume of 13,376,906 shares, compared to its average volume of 9,299,989. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34. Sunrun Inc. has a 52-week low of $7.42 and a 52-week high of $22.44. The firm’s 50-day moving average is $8.97 and its two-hundred day moving average is $11.63. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 5.14 and a beta of 2.44.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. The company had revenue of $869.99 million for the quarter, compared to analysts’ expectations of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The firm’s revenue was up 52.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 EPS. On average, sell-side analysts anticipate that Sunrun Inc. will post 1.19 earnings per share for the current year.

Hedge Funds Weigh In On Sunrun

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in Sunrun by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock valued at $88,375,000 after purchasing an additional 165,196 shares during the period. Contour Asset Management LLC purchased a new stake in shares of Sunrun in the 4th quarter worth about $98,010,000. Maple Rock Capital Partners Inc. lifted its position in shares of Sunrun by 23.1% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 3,694,548 shares of the energy company’s stock worth $49,433,000 after purchasing an additional 692,448 shares during the period. Amundi boosted its stake in shares of Sunrun by 3.9% during the 2nd quarter. Amundi now owns 3,428,504 shares of the energy company’s stock valued at $45,845,000 after purchasing an additional 127,878 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Sunrun during the second quarter valued at about $29,953,000. Institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

RUN has been the subject of a number of recent research reports. Royal Bank Of Canada lowered their target price on Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. TD Cowen lowered their price objective on Sunrun from $21.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Susquehanna dropped their price objective on Sunrun from $18.00 to $15.00 and set a “positive” rating for the company in a research note on Friday, August 7th. Weiss Ratings cut shares of Sunrun from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, September 24th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Sunrun in a research note on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.70.

Sunrun Company Profile

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.