Sunrun (NASDAQ:RUN) Reaches New 12-Month Low – Time to Sell?

Sunrun Inc. (NASDAQ:RUN) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $5.91 and last traded at $5.93, with a volume of 6171934 shares trading hands. The stock had previously closed at $6.21.

Analyst Ratings Changes

A number of research analysts have issued reports on RUN shares. TD Cowen lowered their price objective on Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Royal Bank of Canada decreased their target price on shares of Sunrun from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Wells Fargo & Company cut their price target on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Roth Capital set a $20.00 price objective on Sunrun in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Sunrun has an average rating of “Moderate Buy” and an average target price of $17.20.

Sunrun Price Performance

The firm’s fifty day simple moving average is $8.03 and its two-hundred day simple moving average is $11.41. 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 cap of $1.36 billion, a PE ratio of -3.30 and a beta of 2.84.

Insider Buying and Selling

In other news, Director Edward Harris Fenster acquired 150,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now directly owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. This trade represents a 12.42 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Paul S. Dickson sold 2,968 shares of the 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 transaction, the executive now directly owns 418,492 shares of the company’s stock, valued at approximately $4,678,740.56. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,466 shares of company stock valued at $1,136,397. Corporate insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several institutional investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Sunrun during the 4th quarter valued at about $29,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Sunrun by 133.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after purchasing an additional 2,000 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Sunrun in the 3rd quarter worth approximately $44,000. Summit Securities Group LLC bought a new position in shares of Sunrun during the 4th quarter valued at approximately $53,000. Finally, Union Bancaire Privee UBP SA bought a new stake in Sunrun in the fourth quarter worth $56,000. Institutional investors 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.