Sunrun (NASDAQ:RUN) Trading Down 5.5% After Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN) shares traded down 5.5% during mid-day trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from $19.00 to $17.00. Jefferies Financial Group currently has a buy rating on the stock. Sunrun traded as low as $9.63 and last traded at $9.63. 2,752,288 shares changed hands during trading, a decline of 74% from the average session volume of 10,654,386 shares. The stock had previously closed at $10.19.

Several other analysts also recently weighed in on RUN. Truist Financial restated a “hold” rating and set a $12.00 target price (down previously from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. Barclays decreased their target price on Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Roth Mkm cut their price target on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 8th. BNP Paribas raised Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target for the company in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their price target on Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Sunrun has an average rating of “Moderate Buy” and an average price target of $18.51.

Insider Buying and Selling at Sunrun

In other news, CEO Mary Powell sold 4,350 shares of the business’s 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 completion of the sale, the chief executive officer now owns 560,321 shares in the company, valued at $6,264,388.78. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $9.94, for a total value of $497,000.00. Following the sale, the director now owns 1,092,446 shares of the company’s stock, valued at approximately $10,858,913.24. The trade was a 4.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,830 shares of company stock worth $1,614,147. 3.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunrun

A number of institutional investors have recently made changes to their positions in RUN. International Assets Investment Management LLC grew its stake in Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,638 shares during the period. Blue Trust Inc. grew its stake in Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after acquiring an additional 1,465 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Sunrun in the third quarter valued at about $44,000. Union Bancaire Privee UBP SA acquired a new position in Sunrun in the fourth quarter valued at about $56,000. Finally, Waldron Private Wealth LLC acquired a new position in Sunrun in the third quarter valued at about $135,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Trading Down 5.6 %

The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -5.31 and a beta of 2.58. The business has a 50 day simple moving average of $10.23 and a 200-day simple moving average of $14.52. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Thursday, November 7th. The energy company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.21). The firm had revenue of $537.17 million during the quarter, compared to the consensus estimate of $560.60 million. Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. During the same quarter last year, the firm earned $0.40 earnings per share. As a group, equities analysts expect that Sunrun Inc. will post -0.41 earnings per share for the current year.

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.