Shares of Sunrun Inc. (NASDAQ:RUN – Get Rating) were down 8% on Tuesday following insider selling activity. The company traded as low as $34.07 and last traded at $34.09. Approximately 242,814 shares were traded during trading, a decline of 96% from the average daily volume of 6,158,003 shares. The stock had previously closed at $37.05.Specifically, insider Edward Harris Fenster sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $25.00, for a total transaction of $625,000.00. Following the completion of the sale, the insider now owns 1,585,134 shares of the company’s stock, valued at approximately $39,628,350. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Sunrun news, insider Edward Harris Fenster sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $25.00, for a total transaction of $625,000.00. Following the completion of the transaction, the insider now owns 1,585,134 shares of the company’s stock, valued at $39,628,350. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lynn Michelle Jurich sold 3,993 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $37.04, for a total transaction of $147,900.72. Following the completion of the sale, the director now owns 1,449,459 shares in the company, valued at $53,687,961.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 387,151 shares of company stock worth $12,977,116. Company insiders own 4.29% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on RUN shares. The Goldman Sachs Group raised their price objective on Sunrun from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 4th. JPMorgan Chase & Co. boosted their price target on Sunrun from $52.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, August 8th. Barclays began coverage on shares of Sunrun in a report on Friday, August 5th. They issued an “overweight” rating and a $46.00 price objective for the company. Evercore ISI boosted their target price on shares of Sunrun from $64.00 to $67.00 in a report on Thursday, August 4th. Finally, Roth Capital dropped their price target on shares of Sunrun from $42.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.47.
Sunrun Price Performance
The company has a debt-to-equity ratio of 1.08, a current ratio of 1.73 and a quick ratio of 1.17. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of -62.07 and a beta of 2.26. The business’s fifty day simple moving average is $31.83 and its 200 day simple moving average is $27.78.
Here’s Where to Nibble on Sunrun Stock
Sunrun (NASDAQ:RUN – Get Rating) last posted its earnings results on Wednesday, August 3rd. The energy company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.14. The company had revenue of $584.58 million for the quarter, compared to analyst estimates of $485.04 million. Sunrun had a negative return on equity of 1.39% and a negative net margin of 5.86%. On average, research analysts forecast that Sunrun Inc. will post -0.72 EPS for the current year.
Hedge Funds Weigh In On Sunrun
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RUN. Envestnet Asset Management Inc. increased its holdings in Sunrun by 1.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 40,612 shares of the energy company’s stock worth $949,000 after acquiring an additional 416 shares during the period. TD Asset Management Inc. lifted its holdings in Sunrun by 3.0% in the 4th quarter. TD Asset Management Inc. now owns 14,583 shares of the energy company’s stock worth $500,000 after buying an additional 430 shares during the period. ETF Managers Group LLC grew its position in shares of Sunrun by 5.0% in the 4th quarter. ETF Managers Group LLC now owns 11,297 shares of the energy company’s stock worth $384,000 after buying an additional 537 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Sunrun by 120.6% during the first quarter. Fifth Third Bancorp now owns 1,006 shares of the energy company’s stock valued at $31,000 after buying an additional 550 shares during the period. Finally, Securian Asset Management Inc. raised its holdings in shares of Sunrun by 3.1% during the second quarter. Securian Asset Management Inc. now owns 19,155 shares of the energy company’s stock valued at $447,000 after acquiring an additional 581 shares in the last quarter. Institutional investors own 90.85% of the company’s stock.
Sunrun Company Profile
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.