Sunrun (NASDAQ:RUN) Reaches New 52-Week Low After Analyst Downgrade

Shares of Sunrun Inc. (NASDAQ:RUN) reached a new 52-week low on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $19.00 to $17.00. The Goldman Sachs Group currently has a buy rating on the stock. Sunrun traded as low as $9.13 and last traded at $9.23, with a volume of 9554300 shares trading hands. The stock had previously closed at $10.06.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley cut their price target on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Jefferies Financial Group reduced their target price on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company lowered their target price on shares of Sunrun from $20.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Glj Research reissued a “sell” rating and set a $7.78 price target on shares of Sunrun in a report on Thursday, November 7th. Finally, UBS Group lowered their price objective on Sunrun from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Sunrun presently has a consensus rating of “Hold” and an average price target of $19.12.

Insider Buying and Selling

In other news, CEO Mary Powell sold 6,415 shares of Sunrun stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $16.34, for a total transaction of $104,821.10. Following the completion of the sale, the chief executive officer now directly owns 569,368 shares in the company, valued at $9,303,473.12. The trade was a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Danny Abajian sold 4,869 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $79,608.15. Following the transaction, the chief financial officer now directly owns 269,393 shares in the company, valued at $4,404,575.55. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,691 shares of company stock worth $1,540,601 in the last ninety days. Insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of large investors have recently bought and sold shares of RUN. Greenvale Capital LLP grew its stake in shares of Sunrun by 20.5% during the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after buying an additional 2,000,000 shares during the period. State Street Corp grew its position in Sunrun by 0.6% during the third quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock valued at $165,424,000 after acquiring an additional 54,329 shares during the period. Geode Capital Management LLC grew its position in Sunrun by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after acquiring an additional 30,549 shares during the period. Dimensional Fund Advisors LP increased its stake in Sunrun by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock worth $52,025,000 after acquiring an additional 729,633 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of Sunrun in the 3rd quarter worth about $76,152,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Stock Down 9.0 %

The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -5.03 and a beta of 2.54. The firm has a 50 day moving average price of $12.22 and a two-hundred day moving average price of $15.16.

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.