Sunrun (NASDAQ:RUN) Trading Down 5.4% on Insider Selling

Sunrun Inc. (NASDAQ:RUN) shares traded down 5.4% on Tuesday after an insider sold shares in the company. The stock traded as low as $18.99 and last traded at $19.16. 3,532,386 shares were traded during trading, a decline of 73% from the average session volume of 13,296,769 shares. The stock had previously closed at $20.26.

Specifically, Director Gerald Alan Risk sold 9,045 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $20.04, for a total transaction of $181,261.80. Following the sale, the director now directly owns 334,761 shares of the company’s stock, valued at $6,708,610.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group boosted their target price on Sunrun from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Evercore ISI decreased their target price on Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley raised their target price on Sunrun from $31.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday. Susquehanna upped their price target on shares of Sunrun from $23.00 to $24.00 and gave the stock a “positive” rating in a research report on Monday, July 15th. Finally, UBS Group raised their price objective on shares of Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Sunrun currently has an average rating of “Moderate Buy” and a consensus target price of $22.98.

Sunrun Stock Up 1.7 %

The firm has a market cap of $4.46 billion, a P/E ratio of -2.90 and a beta of 2.61. The firm’s 50 day moving average is $15.67 and its two-hundred day moving average is $13.60. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.88. The company had revenue of $523.87 million during the quarter, compared to analyst estimates of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The firm’s revenue was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. As a group, research analysts anticipate that Sunrun Inc. will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Sunrun

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Sunrun by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 19,581,958 shares of the energy company’s stock valued at $384,394,000 after acquiring an additional 176,861 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of Sunrun in the 4th quarter valued at about $307,000. Victory Capital Management Inc. lifted its holdings in shares of Sunrun by 579.1% in the fourth quarter. Victory Capital Management Inc. now owns 258,697 shares of the energy company’s stock valued at $5,078,000 after purchasing an additional 220,605 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Sunrun by 142.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,702 shares of the energy company’s stock worth $3,199,000 after buying an additional 142,563 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Sunrun by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,781,951 shares of the energy company’s stock worth $54,617,000 after buying an additional 179,688 shares in the last quarter. Institutional investors 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.