Sunrun (NASDAQ:RUN) Hits New 1-Year Low Following Analyst Downgrade

Shares of Sunrun Inc. (NASDAQ:RUN) reached a new 52-week low on Friday after TD Cowen lowered their price target on the stock from $18.00 to $14.00. TD Cowen currently has a buy rating on the stock. Sunrun traded as low as $7.17 and last traded at $7.21, with a volume of 2247034 shares changing hands. The stock had previously closed at $7.91.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their price target on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company lowered their target price 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. Truist Financial reiterated a “hold” rating and set a $12.00 target price (down previously from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. The Goldman Sachs Group reduced their price target on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, December 17th. Finally, Glj Research reaffirmed a “sell” rating and set a $7.78 price objective on shares of Sunrun in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.01.

Insider Buying and Selling

In other Sunrun news, CEO Mary Powell sold 4,350 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the completion of the sale, the chief executive officer now owns 560,321 shares in the company, valued at approximately $6,264,388.78. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Paul S. Dickson sold 2,968 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $33,182.24. Following the completion of the transaction, the executive now owns 418,492 shares in the company, valued at $4,678,740.56. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,830 shares of company stock worth $1,572,147 over the last three months. 3.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunrun

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of Sunrun during the 4th quarter worth about $29,000. International Assets Investment Management LLC boosted its stake in Sunrun by 1,706.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,638 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its stake in Sunrun by 133.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after acquiring an additional 2,000 shares during the last quarter. Blue Trust Inc. grew its holdings in Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after purchasing an additional 1,465 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Sunrun in the third quarter valued at approximately $44,000. Institutional investors own 91.69% of the company’s stock.

Sunrun Trading Down 11.1 %

The company’s fifty day simple moving average is $9.33 and its two-hundred day simple moving average is $13.19. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -3.94 and a beta of 2.59. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

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.