Sunrun (NASDAQ:RUN) Shares Down 6.7%

Sunrun Inc. (NASDAQ:RUN)’s share price dropped 6.7% during trading on Thursday . The company traded as low as $12.04 and last traded at $12.06. Approximately 2,306,434 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 13,433,733 shares. The stock had previously closed at $12.92.

Analyst Upgrades and Downgrades

Several research firms have commented on RUN. Piper Sandler dropped their price objective on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Susquehanna reduced their price objective on shares of Sunrun from $25.00 to $23.00 and set a “positive” rating on the stock in a research report on Thursday, May 9th. BMO Capital Markets boosted their target price on Sunrun from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group increased their price target on Sunrun from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, Royal Bank of Canada dropped their price objective on Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.21.

Sunrun Stock Performance

The stock has a market cap of $2.60 billion, a P/E ratio of -1.82 and a beta of 2.50. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.99 and a current ratio of 1.31. The firm’s 50 day moving average is $11.39 and its 200 day moving average is $13.30.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, May 8th. The energy company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The business had revenue of $458.20 million for the quarter, compared to the consensus estimate of $471.38 million. Sunrun had a negative return on equity of 3.58% and a negative net margin of 68.22%. The business’s quarterly revenue was down 22.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.12) earnings per share. Analysts anticipate that Sunrun Inc. will post -1.83 EPS for the current year.

Insider Transactions at Sunrun

In other news, Director Alan Ferber bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $9.73 per share, with a total value of $97,300.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $97,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Sunrun news, Director Edward Harris Fenster sold 172,920 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the sale, the director now directly owns 1,261,317 shares of the company’s stock, valued at approximately $15,072,738.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Ferber bought 10,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $97,300. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 301,760 shares of company stock worth $3,615,990. Insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Swedbank AB purchased a new stake in shares of Sunrun during the 1st quarter worth about $3,055,000. Tidal Investments LLC increased its position in shares of Sunrun by 128.3% in the first quarter. Tidal Investments LLC now owns 41,848 shares of the energy company’s stock valued at $552,000 after buying an additional 23,514 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Sunrun by 1.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 106,628 shares of the energy company’s stock valued at $1,339,000 after buying an additional 1,500 shares in the last quarter. Bayesian Capital Management LP grew its stake in Sunrun by 169.4% in the 1st quarter. Bayesian Capital Management LP now owns 99,302 shares of the energy company’s stock valued at $1,309,000 after acquiring an additional 62,443 shares during the period. Finally, Maple Rock Capital Partners Inc. increased its holdings in Sunrun by 60.6% in the 1st quarter. Maple Rock Capital Partners Inc. now owns 1,855,000 shares of the energy company’s stock worth $24,449,000 after acquiring an additional 700,000 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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.