Sunrun (NASDAQ:RUN) Stock Price Down 9.9% – Here’s Why

Sunrun Inc. (NASDAQ:RUN)’s stock price was down 9.9% during trading on Tuesday. The company traded as low as $8.83 and last traded at $8.7750. Approximately 6,735,811 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 9,538,159 shares. The stock had previously closed at $9.74.

Analysts Set New Price Targets

RUN has been the subject of a number of research reports. TD Cowen reduced their price objective on Sunrun from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Barclays lowered their target price on shares of Sunrun from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, October 9th. Oppenheimer reaffirmed an “outperform” rating on shares of Sunrun in a research report on Thursday, November 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Sunrun in a research note on Thursday, November 5th. Finally, Royal Bank Of Canada decreased their price objective on Sunrun from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Friday. Eleven research analysts have rated the stock with a Buy rating, seven have assigned 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 an average price target of $13.23.

Sunrun Stock Down 10.9%

The stock’s 50-day moving average price is $8.15 and its two-hundred day moving average price is $12.22. The stock has a market capitalization of $2.09 billion, a P/E ratio of 4.38 and a beta of 2.35. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, November 4th. The energy company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.16 by $0.40. Sunrun had a net margin of 14.01% and a return on equity of 12.56%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $757.53 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The company’s revenue was up 51.7% compared to the same quarter last year. As a group, research analysts expect that Sunrun Inc. will post 1.55 earnings per share for the current fiscal year.

Insider Activity at Sunrun

In other news, CAO Maria Barak sold 3,256 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $9.35, for a total transaction of $30,443.60. Following the transaction, the chief accounting officer directly owned 85,006 shares of the company’s stock, valued at approximately $794,806.10. The trade was a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanna Steele sold 10,042 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total value of $77,925.92. Following the transaction, the insider owned 451,673 shares of the company’s stock, valued at approximately $3,504,982.48. This represents a 2.17% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 71,975 shares of company stock worth $563,721 over the last ninety days. Insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE purchased a new stake in shares of Sunrun in the 2nd quarter worth about $29,953,000. Bank of New York Mellon Corp bought a new stake in shares of Sunrun during the 2nd quarter valued at about $18,120,000. Robeco Schweiz AG increased its position in shares of Sunrun by 28.5% during the third quarter. Robeco Schweiz AG now owns 5,478,228 shares of the energy company’s stock valued at $42,566,000 after buying an additional 1,214,548 shares during the period. Amundi lifted its holdings in Sunrun by 56.3% in the first quarter. Amundi now owns 3,300,626 shares of the energy company’s stock worth $44,798,000 after buying an additional 1,188,564 shares during the period. Finally, Deutsche Bank AG bought a new stake in Sunrun during the 2nd quarter valued at approximately $12,483,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Company Profile

Sunrun Inc. provides residential solar energy systems and battery storage in the United States. Its offerings include system design and installation, energy storage, and ongoing monitoring and maintenance for homeowners. Customers can purchase systems or use arrangements such as leases and power purchase agreements, which allow them to use solar-generated electricity without buying the equipment outright. Sunrun also offers battery storage that can provide backup power and support the use of solar energy when panels are not generating electricity.