Sunrun (NASDAQ:RUN) Shares Down 5.6% – Here’s What Happened

Sunrun Inc. (NASDAQ:RUN)’s share price fell 5.6% during trading on Friday . The company traded as low as $6.35 and last traded at $6.34. 2,213,610 shares traded hands during trading, a decline of 79% from the average session volume of 10,643,598 shares. The stock had previously closed at $6.71.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RUN. UBS Group dropped their price objective on Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. The Goldman Sachs Group lowered their price target on Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. BMO Capital Markets lowered their price target on Sunrun from $11.00 to $9.00 and set a “market perform” rating for the company in a report on Monday, March 3rd. Barclays lowered their price target on Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Finally, Truist Financial restated a “hold” rating and issued a $9.00 price target (down previously from $12.00) on shares of Sunrun in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and an average target price of $17.20.

Sunrun Trading Down 1.8 %

The company has a market cap of $1.49 billion, a P/E ratio of -3.62 and a beta of 2.84. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The business has a 50-day moving average price of $8.23 and a two-hundred day moving average price of $11.68.

Insider Activity at Sunrun

In other Sunrun news, Director Edward Harris Fenster bought 150,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $6.80 per share, with a total value of $1,020,000.00. Following the completion of the purchase, the director now owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. The trade was a 12.42 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CRO Paul S. Dickson sold 2,968 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $33,182.24. Following the transaction, the executive now directly owns 418,492 shares of the company’s stock, 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. Over the last quarter, insiders sold 121,466 shares of company stock worth $1,136,397. 3.77% of the stock is owned by insiders.

Institutional Trading of Sunrun

Several institutional investors and hedge funds have recently bought and sold shares of RUN. Aster Capital Management DIFC Ltd bought a new stake in Sunrun in the fourth quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. raised its stake in Sunrun by 133.3% in 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 during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Sunrun during the third quarter worth approximately $44,000. Summit Securities Group LLC bought a new position in shares of Sunrun during the fourth quarter worth approximately $53,000. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Sunrun during the fourth quarter worth approximately $56,000. Institutional investors own 91.69% of the company’s stock.

Sunrun Company Profile

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.