Sunrun (NASDAQ:RUN) Stock Price Down 6.8% – What’s Next?

Sunrun Inc. (NASDAQ:RUN) shares traded down 6.8% on Monday . The stock traded as low as $6.33 and last traded at $6.39. 1,654,781 shares traded hands during trading, a decline of 86% from the average session volume of 11,509,096 shares. The stock had previously closed at $6.85.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Royal Bank of Canada lowered their target price on shares of Sunrun from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Roth Capital set a $20.00 price target on Sunrun in a research report on Friday, February 28th. Barclays lowered their target price on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Truist Financial reiterated a “hold” rating and set a $6.00 price objective (down previously from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Finally, UBS Group reduced their target price on Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.68.

Sunrun Trading Down 4.2 %

The firm’s 50 day simple moving average is $7.00 and its 200-day simple moving average is $9.80. 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 company has a market capitalization of $1.48 billion, a PE ratio of -3.60 and a beta of 2.74.

Insider Buying and Selling at Sunrun

In related news, Director Edward Harris Fenster bought 150,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $6.80 per share, with a total value of $1,020,000.00. Following the completion of the transaction, the director now directly owns 1,358,182 shares of the company’s stock, valued at approximately $9,235,637.60. This trade represents a 12.42 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeanna Steele sold 9,942 shares of Sunrun stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $67,009.08. Following the transaction, the insider now directly owns 291,238 shares in the company, valued at approximately $1,962,944.12. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 138,540 shares of company stock worth $1,050,944 in the last 90 days. 3.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Sunrun by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company’s stock worth $219,679,000 after purchasing an additional 343,448 shares in the last quarter. Greenvale Capital LLP boosted its stake in shares of Sunrun by 50.3% in the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock valued at $124,875,000 after purchasing an additional 4,516,793 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Sunrun by 593.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock worth $111,263,000 after purchasing an additional 10,294,947 shares during the period. Sylebra Capital LLC raised its position in shares of Sunrun by 124.0% in the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock valued at $61,819,000 after acquiring an additional 3,699,405 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Sunrun by 27.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,621,303 shares of the energy company’s stock worth $61,252,000 after acquiring an additional 1,427,858 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Sunrun

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.