Sunrun (NASDAQ:RUN) Sets New 52-Week Low Following Insider Selling

Sunrun Inc. (NASDAQ:RUN)’s stock price reached a new 52-week low on Tuesday after an insider sold shares in the company. The stock traded as low as $8.95 and last traded at $9.01, with a volume of 9309078 shares traded. The stock had previously closed at $9.44.

Specifically, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $9.59, for a total value of $479,500.00. Following the transaction, the director now directly owns 991,753 shares in the company, valued at $9,510,911.27. This represents a 4.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Guggenheim cut Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. BNP Paribas upgraded shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective for the company in a report on Tuesday, January 7th. Morgan Stanley decreased their target price on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. The Goldman Sachs Group decreased their price target on Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Finally, Piper Sandler lowered Sunrun from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $11.00 in a research report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Sunrun has an average rating of “Moderate Buy” and an average target price of $19.11.

Sunrun Stock Up 10.4 %

The company has a fifty day moving average of $10.22 and a 200 day moving average of $14.56. 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 cap of $2.10 billion, a P/E ratio of -5.13 and a beta of 2.58.

Sunrun (NASDAQ:RUN) last released its earnings results on Thursday, November 7th. The energy company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.21). Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. The company had revenue of $537.17 million for the quarter, compared to analysts’ expectations of $560.60 million. During the same quarter last year, the firm posted $0.40 earnings per share. On average, research analysts anticipate that Sunrun Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of Sunrun

Several hedge funds have recently modified their holdings of RUN. Creative Planning boosted its stake in shares of Sunrun by 0.3% during the third quarter. Creative Planning now owns 290,259 shares of the energy company’s stock valued at $5,242,000 after purchasing an additional 784 shares in the last quarter. Van ECK Associates Corp increased its holdings in Sunrun by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock worth $905,000 after buying an additional 886 shares during the period. Blue Trust Inc. raised its holdings in shares of Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,465 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Sunrun by 3.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 49,762 shares of the energy company’s stock worth $600,000 after acquiring an additional 1,485 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of Sunrun by 1,706.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after purchasing an additional 1,638 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.