Sunrun (NASDAQ:RUN) Trading Down 9.4% After Insider Selling

Sunrun Inc. (NASDAQ:RUN)’s stock price fell 9.4% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $11.73 and last traded at $11.80. 2,589,210 shares were traded during mid-day trading, a decline of 82% from the average session volume of 14,423,826 shares. The stock had previously closed at $13.02.

Specifically, Director Alan Ferber purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $97,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Sunrun news, Director Alan Ferber acquired 10,000 shares of Sunrun stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $9.73 per share, for a total transaction of $97,300.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $97,300. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Danny Abajian sold 5,534 shares of Sunrun stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $12.12, for a total transaction of $67,072.08. Following the completion of the transaction, the chief financial officer now owns 210,985 shares of the company’s stock, valued at $2,557,138.20. The disclosure for this sale can be found here. Insiders sold a total of 128,840 shares of company stock worth $1,549,596 in the last quarter. Insiders own 3.76% of the company’s stock.

Analysts Set New Price Targets

RUN has been the subject of several analyst reports. Royal Bank of Canada cut their price target on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Piper Sandler dropped their price objective on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Susquehanna reaffirmed a “positive” rating and set a $25.00 price objective on shares of Sunrun in a report on Friday, April 5th. Mizuho lifted their price objective on shares of Sunrun from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Finally, BMO Capital Markets lifted their price objective on shares of Sunrun from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.05.

Sunrun Stock Performance

The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26. The firm’s 50 day moving average is $12.86 and its 200 day moving average is $13.23.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($0.13) by ($1.20). Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. The business had revenue of $516.59 million for the quarter, compared to the consensus estimate of $499.74 million. Research analysts anticipate that Sunrun Inc. will post -1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently bought and sold shares of RUN. Captrust Financial Advisors lifted its stake in shares of Sunrun by 6.2% in the third quarter. Captrust Financial Advisors now owns 7,389 shares of the energy company’s stock worth $204,000 after buying an additional 431 shares in the last quarter. Koss Olinger Consulting LLC lifted its stake in shares of Sunrun by 6.4% in the first quarter. Koss Olinger Consulting LLC now owns 10,431 shares of the energy company’s stock worth $210,000 after buying an additional 628 shares in the last quarter. Delphia USA Inc. lifted its stake in shares of Sunrun by 4.3% in the fourth quarter. Delphia USA Inc. now owns 16,350 shares of the energy company’s stock worth $393,000 after buying an additional 675 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Sunrun by 76.9% in the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock worth $35,000 after buying an additional 764 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Sunrun by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 103,058 shares of the energy company’s stock worth $2,843,000 after buying an additional 812 shares in the last quarter. 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.