Sunrun (NASDAQ:RUN) Shares Down 3.6%

Sunrun Inc. (NASDAQ:RUN)’s share price traded down 3.6% during trading on Monday . The stock traded as low as $17.08 and last traded at $17.21. 1,653,633 shares were traded during trading, a decline of 88% from the average session volume of 13,423,924 shares. The stock had previously closed at $17.86.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Mizuho reduced their target price on Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Susquehanna raised their price target on Sunrun from $23.00 to $24.00 and gave the company a “positive” rating in a report on Monday, July 15th. Barclays lifted their target price on Sunrun from $16.00 to $19.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price objective on Sunrun from $14.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Piper Sandler raised their price objective on Sunrun from $15.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Sunrun presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.42.

Sunrun Price Performance

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 company has a market cap of $3.62 billion, a price-to-earnings ratio of -2.49 and a beta of 2.61. The business has a fifty day moving average price of $14.06 and a 200 day moving average price of $13.12.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, May 8th. The energy company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. Sunrun had a negative return on equity of 3.58% and a negative net margin of 68.22%. The firm had revenue of $458.20 million for the quarter, compared to analyst estimates of $471.38 million. During the same quarter in the previous year, the company posted ($1.12) EPS. The business’s revenue was down 22.3% on a year-over-year basis. As a group, research analysts anticipate that Sunrun Inc. will post -1.25 earnings per share for the current year.

Insider Transactions at Sunrun

In related news, CEO Mary Powell sold 1,741 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $14.86, for a total transaction of $25,871.26. Following the completion of the sale, the chief executive officer now directly owns 589,927 shares of the company’s stock, valued at $8,766,315.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Edward Harris Fenster sold 9,248 shares of Sunrun stock in a transaction on Friday, May 31st. The stock was sold at an average price of $15.00, for a total transaction of $138,720.00. Following the completion of the sale, the director now owns 1,252,069 shares of the company’s stock, valued at $18,781,035. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mary Powell sold 1,741 shares of Sunrun stock in a transaction on Friday, May 31st. The shares were sold at an average price of $14.86, for a total value of $25,871.26. Following the sale, the chief executive officer now directly owns 589,927 shares of the company’s stock, valued at approximately $8,766,315.22. The disclosure for this sale can be found here. Insiders sold a total of 255,712 shares of company stock valued at $3,706,261 over the last ninety days. 3.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Fifth Third Bancorp boosted its position in Sunrun by 76.9% during the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after acquiring an additional 764 shares in the last quarter. Retirement Systems of Alabama boosted its position in Sunrun by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 272,010 shares of the energy company’s stock valued at $5,340,000 after acquiring an additional 833 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in Sunrun by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock valued at $1,837,000 after acquiring an additional 910 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of Sunrun by 41.9% in the 4th quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock worth $62,000 after purchasing an additional 938 shares in the last quarter. Finally, Spire Wealth Management boosted its position in shares of Sunrun by 18.7% in the 1st quarter. Spire Wealth Management now owns 6,405 shares of the energy company’s stock worth $84,000 after purchasing an additional 1,010 shares in the last quarter. Hedge funds and other 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.