Sunrun (NASDAQ:RUN) Trading Down 3.4% Following Insider Selling

Sunrun Inc. (NASDAQ:RUN)’s share price dropped 3.4% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $19.60 and last traded at $19.60. Approximately 4,614,452 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 12,590,811 shares. The stock had previously closed at $20.30.

Specifically, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00. Following the completion of the sale, the director now directly owns 1,192,446 shares in the company, valued at $24,087,409.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

RUN has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on Sunrun from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. BMO Capital Markets raised their price objective on Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. UBS Group upped their target price on Sunrun from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Oppenheimer lifted their price target on shares of Sunrun from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Barclays boosted their price objective on shares of Sunrun from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.98.

Sunrun Price Performance

The company has a market cap of $4.23 billion, a price-to-earnings ratio of -2.84 and a beta of 2.59. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84. The company has a fifty day moving average price of $18.54 and a two-hundred day moving average price of $14.41.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The firm had revenue of $523.87 million for the quarter, compared to the consensus estimate of $516.76 million. The business’s revenue was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 earnings per share. As a group, equities research analysts anticipate that Sunrun Inc. will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Duncker Streett & Co. Inc. bought a new position in shares of Sunrun during the second quarter valued at $36,000. BNP Paribas acquired a new stake in shares of Sunrun during the 1st quarter worth about $37,000. CWM LLC lifted its holdings in Sunrun by 883.9% during the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after purchasing an additional 3,014 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Sunrun in the second quarter valued at about $45,000. Finally, Headlands Technologies LLC acquired a new position in Sunrun in the first quarter valued at about $53,000. 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.