Sunrun (NASDAQ:RUN) Hits New 12-Month Low Following Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN) reached a new 52-week low during mid-day trading 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 trading hands. The stock had previously closed at $7.91.

Other analysts also recently issued research reports about the stock. BNP Paribas upgraded shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target for the company in a research report on Tuesday, January 7th. Barclays decreased their price objective on Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Truist Financial restated a “hold” rating and set a $12.00 price target (down previously from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. Glj Research reiterated a “sell” rating and set a $7.78 target price on shares of Sunrun in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their price target on Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Two equities research 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. Based on data from MarketBeat.com, Sunrun currently has a consensus rating of “Moderate Buy” and an average price target of $18.01.

Insider Transactions at Sunrun

In related news, CFO Danny Abajian sold 3,734 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $41,746.12. Following the sale, the chief financial officer now directly owns 257,969 shares in the company, valued at approximately $2,884,093.42. This trade represents a 1.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the completion of the sale, the director now directly owns 1,041,753 shares of the company’s stock, valued at $9,813,313.26. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,830 shares of company stock worth $1,572,147 in the last ninety days. Insiders own 3.77% of the company’s stock.

Institutional Trading of Sunrun

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new position in Sunrun during the 4th quarter valued at $29,000. International Assets Investment Management LLC increased its holdings in Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after buying an additional 1,638 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after buying an additional 2,000 shares in the last quarter. Blue Trust Inc. lifted its holdings in Sunrun by 385.5% during the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after buying an additional 1,465 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Sunrun in the 3rd quarter worth approximately $44,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Stock Performance

The company has a 50-day moving average of $9.28 and a 200-day moving average of $13.08. 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 $1.63 billion, a price-to-earnings ratio of -3.98 and a beta of 2.59.

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.