Sunrun (NASDAQ:RUN) Stock Price Down 3.6%

Sunrun Inc. (NASDAQ:RUN)’s share price traded down 3.6% during trading on Wednesday . The company traded as low as $16.70 and last traded at $16.87. 1,940,413 shares traded hands during trading, a decline of 84% from the average session volume of 12,297,674 shares. The stock had previously closed at $17.50.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RUN. Barclays boosted their price target on Sunrun from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. BMO Capital Markets increased their price target on Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Piper Sandler lifted their price objective on shares of Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. UBS Group increased their price objective on shares of Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Sunrun Price Performance

The firm has a market cap of $3.73 billion, a P/E ratio of -2.62 and a beta of 2.59. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31. The company’s 50-day moving average is $18.75 and its two-hundred day moving average is $14.80.

Sunrun (NASDAQ:RUN) last issued 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. The company had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The firm’s quarterly revenue was down 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. Sell-side analysts anticipate that Sunrun Inc. will post -0.16 EPS for the current fiscal year.

Insider Activity

In related news, CEO Mary Powell sold 5,569 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $12.62, for a total transaction of $70,280.78. Following the completion of the sale, the chief executive officer now directly owns 581,341 shares in the company, valued at approximately $7,336,523.42. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Mary Powell sold 5,569 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.62, for a total transaction of $70,280.78. Following the completion of the transaction, the chief executive officer now directly owns 581,341 shares in the company, valued at approximately $7,336,523.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Danny Abajian sold 4,662 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.62, for a total transaction of $58,834.44. Following the completion of the sale, the chief financial officer now owns 283,098 shares in the company, valued at approximately $3,572,696.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 178,675 shares of company stock worth $3,253,289. Insiders own 3.76% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of institutional investors and hedge funds have recently bought and sold shares of RUN. Victory Capital Management Inc. increased its position in Sunrun by 1.5% in the 2nd quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock valued at $538,000 after acquiring an additional 691 shares during the period. Crossmark Global Holdings Inc. increased its holdings in Sunrun by 6.0% in the second quarter. Crossmark Global Holdings Inc. now owns 15,690 shares of the energy company’s stock valued at $186,000 after purchasing an additional 895 shares during the period. Treasurer of the State of North Carolina raised its position in Sunrun by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock worth $1,837,000 after purchasing an additional 910 shares during the last quarter. &PARTNERS lifted its holdings in Sunrun by 1.6% during the 2nd quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock worth $698,000 after buying an additional 1,019 shares during the period. Finally, United Services Automobile Association grew its position in shares of Sunrun by 6.3% in the 2nd quarter. United Services Automobile Association now owns 17,631 shares of the energy company’s stock valued at $209,000 after buying an additional 1,042 shares during the last quarter. Institutional investors and hedge funds 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.