Sunrun (NASDAQ:RUN) Hits New 52-Week Low Following Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN) shares reached a new 52-week low during mid-day trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $14.00 to $12.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Sunrun traded as low as $6.78 and last traded at $7.1750, with a volume of 869,646 shares trading hands. The stock had previously closed at $6.89.

A number of other research firms also recently weighed in on RUN. Wells Fargo & Company decreased their price target on shares of Sunrun from $22.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, August 14th. Jefferies Financial Group reissued a “hold” rating and issued a $7.00 price target on shares of Sunrun in a report on Friday, October 9th. The Goldman Sachs Group dropped their price objective on shares of Sunrun from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Susquehanna reduced their price objective on shares of Sunrun from $15.00 to $13.00 and set a “positive” rating for the company in a report on Wednesday, October 14th. Finally, Mizuho set a $18.00 target price on shares of Sunrun in a research report on Thursday, August 6th. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Sunrun currently has an average rating of “Hold” and an average target price of $14.39.

Insider Buying and Selling

In related news, CRO Paul S. Dickson sold 15,837 shares of the firm’s 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 $122,895.12. Following the completion of the transaction, the executive owned 823,702 shares in the company, valued at $6,391,927.52. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 16,734 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total value of $129,855.84. Following the completion of the sale, the chief financial officer directly owned 386,532 shares in the company, valued at approximately $2,999,488.32. This represents a 4.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 118,719 shares of company stock worth $1,031,277. Insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vontobel Holding Ltd. lifted its holdings in shares of Sunrun by 77.5% during the third quarter. Vontobel Holding Ltd. now owns 195,585 shares of the energy company’s stock valued at $1,520,000 after acquiring an additional 85,369 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in shares of Sunrun by 33.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 40,264 shares of the energy company’s stock valued at $313,000 after purchasing an additional 10,014 shares in the last quarter. Green Alpha Advisors LLC boosted its stake in shares of Sunrun by 19.6% in the 3rd quarter. Green Alpha Advisors LLC now owns 61,097 shares of the energy company’s stock valued at $475,000 after purchasing an additional 10,025 shares in the last quarter. U S Wealth Group LLC. grew its holdings in shares of Sunrun by 23.1% in the 2nd quarter. U S Wealth Group LLC. now owns 95,946 shares of the energy company’s stock worth $1,284,000 after purchasing an additional 18,006 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Sunrun in the 2nd quarter worth about $594,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Trading Up 4.6%

The firm has a market cap of $1.74 billion, a P/E ratio of 4.86 and a beta of 2.44. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. The company’s fifty day moving average price is $8.51 and its two-hundred day moving average price is $11.30.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The firm had revenue of $869.99 million during the quarter, compared to the consensus estimate of $746.87 million. During the same period last year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 52.8% on a year-over-year basis. As a group, sell-side analysts predict that Sunrun Inc. will post 1.46 EPS for the current fiscal year.

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.