Sunrun (NASDAQ:RUN) Stock Price Down 7.3% – Should You Sell?

Shares of Sunrun Inc. (NASDAQ:RUN) were down 7.3% during mid-day trading on Thursday . The company traded as low as $13.34 and last traded at $13.3630. Approximately 4,024,577 shares traded hands during trading, a decline of 57% from the average daily volume of 9,435,684 shares. The stock had previously closed at $14.42.

Key Sunrun News

Here are the key news stories impacting Sunrun this week:

• Positive Sentiment: Sunrun, Tesla, and Renew Home announced plans for a 16.8 GW virtual power plant program, which could create a large new use case for Sunrun’s home battery and solar network. Sunrun, Tesla, Renew Home announce plans for 16.8 GW virtual power plant program
• Positive Sentiment: News that Sunrun is helping free up electrical capacity for AI data centers boosted sentiment around future growth, since it positions the company as part of the power solution for rising electricity demand. Tesla, Sunrun Team Up To Use Home Batteries And Solar To Power AI Data Centers
• Neutral Sentiment: Some traders noted the stock was softer in premarket trading as broader market risk appetite faded, even while investors continued digesting the grid-support headlines tied to AI power demand. What’s Going On With Sunrun Stock Friday?
• Negative Sentiment: Before the partnership news, Sunrun had already seen a sharp pullback in the prior session, showing that the stock remains volatile despite the recent rally. Sunrun (RUN) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Analyst Upgrades and Downgrades

RUN has been the topic of a number of research reports. Citigroup cut their price objective on Sunrun from $26.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. UBS Group dropped their target price on shares of Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Oppenheimer raised their price target on shares of Sunrun from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Mizuho reduced their price target on shares of Sunrun from $25.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. Finally, Barclays decreased their price objective on shares of Sunrun from $23.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.98.

Sunrun Price Performance

The company has a 50-day moving average price of $13.60 and a two-hundred day moving average price of $15.62. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.45 and a quick ratio of 1.09. The company has a market cap of $3.22 billion, a PE ratio of 6.33 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, May 6th. The energy company reported $0.62 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.67. The business had revenue of $722.23 million for the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The company’s revenue was up 43.2% on a year-over-year basis. During the same period last year, the business posted $0.20 EPS. Sell-side analysts expect that Sunrun Inc. will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Danny Abajian sold 2,030 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $13.39, for a total value of $27,181.70. Following the completion of the transaction, the chief financial officer directly owned 438,781 shares in the company, valued at approximately $5,875,277.59. This represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $15.92, for a total transaction of $796,000.00. Following the sale, the director directly owned 459,091 shares of the company’s stock, valued at approximately $7,308,728.72. The trade was a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 694,816 shares of company stock valued at $9,366,473 over the last three months. Company insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its stake in shares of Sunrun by 49.2% during the fourth quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company’s stock valued at $31,000 after acquiring an additional 558 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Sunrun by 59.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after acquiring an additional 564 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Sunrun by 3.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,481 shares of the energy company’s stock worth $322,000 after acquiring an additional 565 shares in the last quarter. Sage Rhino Capital LLC boosted its holdings in Sunrun by 5.2% in the fourth quarter. Sage Rhino Capital LLC now owns 11,468 shares of the energy company’s stock valued at $211,000 after purchasing an additional 572 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in Sunrun by 62.9% in the fourth quarter. UMB Bank n.a. now owns 1,732 shares of the energy company’s stock valued at $32,000 after purchasing an additional 669 shares during 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.