Sunrun (NASDAQ:RUN) Trading Down 5.6% – Should You Sell?

Sunrun Inc. (NASDAQ:RUN)’s stock price dropped 5.6% during mid-day trading on Friday . The stock traded as low as $6.35 and last traded at $6.34. Approximately 2,213,610 shares were traded during trading, a decline of 79% from the average daily volume of 10,643,598 shares. The stock had previously closed at $6.71.

Analyst Upgrades and Downgrades

RUN has been the subject of several recent research reports. BNP Paribas upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective for the company in a report on Tuesday, January 7th. Truist Financial reiterated a “hold” rating and set a $9.00 price objective (down from $12.00) on shares of Sunrun in a report on Monday, March 3rd. Roth Capital set a $20.00 target price on Sunrun in a report on Friday, February 28th. Wells Fargo & Company cut their target price on Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Royal Bank of Canada cut their target price on Sunrun from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

Sunrun Trading Down 2.6 %

The business has a 50-day moving average of $8.30 and a two-hundred day moving average of $11.82. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -3.59 and a beta of 2.84.

Insider Activity

In related news, CRO Paul S. Dickson sold 2,968 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $33,182.24. Following the completion of the transaction, the executive now owns 418,492 shares in the company, valued at $4,678,740.56. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mary Powell sold 4,350 shares of Sunrun stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $48,633.00. Following the sale, the chief executive officer now directly owns 560,321 shares of the company’s stock, valued at $6,264,388.78. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,466 shares of company stock worth $1,136,397. Insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc boosted its stake in Sunrun by 5.8% in the 4th quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company’s stock worth $229,000 after purchasing an additional 1,360 shares during the period. Guggenheim Capital LLC boosted its stake in Sunrun by 6.8% in the 4th quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company’s stock worth $253,000 after purchasing an additional 1,749 shares during the period. Xponance Inc. boosted its stake in Sunrun by 13.2% in the 4th quarter. Xponance Inc. now owns 16,265 shares of the energy company’s stock worth $150,000 after purchasing an additional 1,895 shares during the period. Newbridge Financial Services Group Inc. lifted its position in Sunrun by 133.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after buying an additional 2,000 shares in the last quarter. Finally, Scotia Capital Inc. lifted its position in Sunrun by 17.7% during the 4th quarter. Scotia Capital Inc. now owns 14,377 shares of the energy company’s stock worth $133,000 after buying an additional 2,157 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Company Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.