Sunrun (NASDAQ:RUN) Shares Gap Down to $12.64

Sunrun Inc. (NASDAQ:RUN)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $12.64, but opened at $12.29. Sunrun shares last traded at $12.13, with a volume of 1,564,727 shares traded.

Analyst Ratings Changes

Several research analysts have issued reports on RUN shares. Royal Bank of Canada dropped their target price on Sunrun from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. Susquehanna decreased their price objective on Sunrun from $25.00 to $23.00 and set a “positive” rating on the stock in a research note on Thursday, May 9th. Mizuho decreased their price objective on Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Morgan Stanley lifted their target price on Sunrun from $24.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Finally, Truist Financial reissued a “hold” rating and set a $14.00 target price (down previously from $15.00) on shares of Sunrun in a research note on Monday, February 26th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.47.

Sunrun Trading Up 4.4 %

The business has a 50 day moving average price of $12.24 and a 200 day moving average price of $13.62. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.99 and a current ratio of 1.31.

Sunrun (NASDAQ:RUN) last released its 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. The firm had revenue of $458.20 million for the quarter, compared to analysts’ expectations of $471.38 million. Sunrun had a negative return on equity of 3.58% and a negative net margin of 68.22%. The company’s quarterly revenue was down 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.12) earnings per share. As a group, equities research analysts predict that Sunrun Inc. will post -1.27 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Mary Powell sold 22,549 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $12.07, for a total value of $272,166.43. Following the transaction, the chief executive officer now owns 379,768 shares of the company’s stock, valued at $4,583,799.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Mary Powell sold 22,549 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $12.07, for a total value of $272,166.43. Following the transaction, the chief executive officer now owns 379,768 shares of the company’s stock, valued at $4,583,799.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO Paul S. Dickson sold 14,945 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $12.07, for a total value of $180,386.15. Following the completion of the transaction, the executive now directly owns 283,772 shares in the company, valued at approximately $3,425,128.04. The disclosure for this sale can be found here. Insiders have sold a total of 377,143 shares of company stock valued at $4,897,079 over the last quarter. 3.76% of the stock is owned by corporate insiders.

Institutional Trading of Sunrun

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Truist Financial Corp bought a new stake in Sunrun during the 4th quarter valued at $307,000. Diversified Trust Co purchased a new stake in shares of Sunrun during the 4th quarter valued at $221,000. Victory Capital Management Inc. lifted its holdings in shares of Sunrun by 579.1% during the 4th 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 during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Sunrun by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,405,097 shares of the energy company’s stock valued at $243,728,000 after purchasing an additional 126,321 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Sunrun by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,781,951 shares of the energy company’s stock valued at $54,617,000 after purchasing an additional 179,688 shares during 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.