Sunrun (NASDAQ:RUN) Shares Down 4.8% Following Insider Selling

Sunrun Inc. (NASDAQ:RUN)’s share price fell 4.8% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $10.14 and last traded at $10.18. 1,297,568 shares changed hands during trading, a decline of 91% from the average session volume of 14,290,282 shares. The stock had previously closed at $10.69.

Specifically, Director Alan Ferber bought 10,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $9.73 per share, for a total transaction of $97,300.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $97,300. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other Sunrun news, insider Jeanna Steele sold 8,187 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $12.11, for a total value of $99,144.57. Following the transaction, the insider now directly owns 239,724 shares in the company, valued at approximately $2,903,057.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Ferber acquired 10,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average price of $9.73 per share, with a total value of $97,300.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $97,300. The disclosure for this purchase can be found here. Insiders have sold 301,760 shares of company stock worth $3,615,990 in the last ninety days. 3.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RUN. The Goldman Sachs Group upped their price objective on Sunrun from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Oppenheimer reiterated an “outperform” rating and issued a $19.00 price objective on shares of Sunrun in a report on Thursday, February 22nd. Piper Sandler cut their price objective on Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Mizuho upped their price objective on Sunrun from $23.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Finally, Royal Bank of Canada dropped their target price on Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.53.

Sunrun Trading Down 3.4 %

The firm has a market cap of $2.27 billion, a PE ratio of -1.40 and a beta of 2.46. The firm has a fifty day simple moving average of $12.67 and a two-hundred day simple moving average of $13.21. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 1.68.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (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 firm had revenue of $516.59 million during the quarter, compared to the consensus estimate of $499.74 million. Equities analysts forecast that Sunrun Inc. will post -1.69 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Register Financial Advisors LLC bought a new position in Sunrun during the 1st quarter valued at approximately $92,000. Perpetual Ltd increased its position in Sunrun by 31.1% during the 1st quarter. Perpetual Ltd now owns 59,028 shares of the energy company’s stock valued at $773,000 after buying an additional 14,000 shares in the last quarter. Vanguard Group Inc. increased its position in Sunrun by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 19,581,958 shares of the energy company’s stock valued at $384,394,000 after buying an additional 176,861 shares in the last quarter. Wellington Management Group LLP bought a new position in Sunrun during the 4th quarter valued at approximately $15,935,000. Finally, EP Wealth Advisors LLC increased its position in Sunrun by 20.4% during the 4th quarter. EP Wealth Advisors LLC now owns 21,364 shares of the energy company’s stock valued at $419,000 after buying an additional 3,624 shares in the last quarter. Institutional investors 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.