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

Sunrun Inc. (NASDAQ:RUN)’s share price fell 8.2% during mid-day trading on Tuesday . The company traded as low as $16.70 and last traded at $16.7420. 2,247,940 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 6,261,246 shares. The stock had previously closed at $18.23.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft set a $19.00 target price on shares of Sunrun in a research report on Wednesday, January 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 price objective on shares of Sunrun in a research note on Wednesday. Susquehanna lifted their price objective on Sunrun from $13.00 to $23.00 and gave the stock a “positive” rating in a report on Monday, October 13th. Morgan Stanley increased their target price on Sunrun from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, December 2nd. Finally, The Goldman Sachs Group raised their price target on Sunrun from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

Sunrun Trading Up 5.3%

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 company has a market capitalization of $4.35 billion, a PE ratio of -1.68 and a beta of 2.35. The stock’s fifty day moving average price is $18.52 and its two-hundred day moving average price is $16.69.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Sunrun had a positive return on equity of 19.34% and a negative net margin of 106.50%.The company had revenue of $724.56 million for the quarter, compared to the consensus estimate of $601.15 million. During the same quarter in the previous year, the business earned ($0.37) EPS. Sunrun’s revenue was up 34.9% compared to the same quarter last year. Sell-side analysts anticipate that Sunrun Inc. will post -0.43 earnings per share for the current year.

Insider Activity at Sunrun

In related news, CFO Danny Abajian sold 7,190 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total value of $127,982.00. Following the completion of the sale, the chief financial officer owned 405,518 shares of the company’s stock, valued at $7,218,220.40. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Paul S. Dickson sold 6,119 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $17.80, for a total transaction of $108,918.20. Following the transaction, the executive directly owned 639,110 shares in the company, valued at approximately $11,376,158. The trade was a 0.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 354,956 shares of company stock valued at $6,725,832 over the last 90 days. Company insiders own 3.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RUN. Royal Bank of Canada boosted its stake in Sunrun by 5.1% during the first quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock worth $3,672,000 after acquiring an additional 30,175 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Sunrun by 47.8% during the first quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock valued at $192,000 after purchasing an additional 10,598 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Sunrun by 2.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company’s stock worth $1,397,000 after purchasing an additional 5,882 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Sunrun by 511.0% in the 1st quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company’s stock worth $158,000 after purchasing an additional 22,603 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Sunrun by 45.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock worth $13,518,000 after buying an additional 718,955 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

Sunrun Company Profile

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.