Sunrun Inc. (NASDAQ:RUN – Get Free Report) shares dropped 3.7% during trading on Monday . The stock traded as low as $17.47 and last traded at $17.50. Approximately 2,430,163 shares changed hands during trading, a decline of 81% from the average daily volume of 12,805,890 shares. The stock had previously closed at $18.17.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on RUN shares. Evercore ISI dropped their price target on Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a research report on Thursday, August 8th. BMO Capital Markets increased their price objective on shares of Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of Sunrun to a “sell” rating in a research note on Thursday, August 8th. Finally, UBS Group lifted their price target on Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Sunrun presently has an average rating of “Moderate Buy” and an average target price of $22.98.
Sunrun Price Performance
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 stock has a fifty day moving average of $17.38 and a 200 day moving average of $13.95.
Sunrun (NASDAQ:RUN – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.88. The business had revenue of $523.87 million during the quarter, compared to analyst estimates of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The company’s revenue was down 11.2% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. On average, equities analysts anticipate that Sunrun Inc. will post -0.16 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CFO Danny Abajian sold 4,662 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $12.62, for a total transaction of $58,834.44. Following the sale, the chief financial officer now directly owns 283,098 shares in the company, valued at approximately $3,572,696.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Sunrun news, CFO Danny Abajian sold 4,662 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 283,098 shares in the company, valued at $3,572,696.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mary Powell sold 2,148 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total transaction of $40,360.92. Following the transaction, the chief executive officer now directly owns 579,193 shares in the company, valued at $10,883,036.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,293 shares of company stock valued at $3,249,709. Corporate insiders own 3.76% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Sylebra Capital LLC purchased a new stake in Sunrun during the second quarter worth about $35,387,000. Vanguard Group Inc. increased its stake in Sunrun by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after buying an additional 2,743,148 shares during the period. Greenvale Capital LLP lifted its holdings in Sunrun by 20.5% during the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after buying an additional 2,000,000 shares in the last quarter. Norges Bank acquired a new position in shares of Sunrun in the fourth quarter worth $23,186,000. Finally, Masters Capital Management LLC purchased a new stake in shares of Sunrun during the fourth quarter worth $19,630,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.
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.