Sunrun (NASDAQ:RUN) Shares Down 3.9% Following Analyst Downgrade

Shares of Sunrun Inc. (NASDAQ:RUN) were down 3.9% during trading on Monday after Mizuho lowered their price target on the stock from $28.00 to $23.00. Mizuho currently has a buy rating on the stock. Sunrun traded as low as $9.81 and last traded at $9.85. Approximately 2,639,219 shares traded hands during trading, a decline of 81% from the average daily volume of 14,184,179 shares. The stock had previously closed at $10.25.

RUN has been the subject of a number of other research reports. Royal Bank of Canada cut their target price on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. Truist Financial reissued a “hold” rating and set a $14.00 target price (down previously from $15.00) on shares of Sunrun in a research note on Monday, February 26th. Janney Montgomery Scott cut shares of Sunrun from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group upped their price objective on shares of Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Finally, BMO Capital Markets upped their price objective on shares of Sunrun from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Sunrun currently has a consensus rating of “Moderate Buy” and an average target price of $21.26.

Insider Buying and Selling at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 4,830 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $12.12, for a total value of $58,539.60. Following the transaction, the director now directly owns 1,403,915 shares in the company, valued at approximately $17,015,449.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Lynn Michelle Jurich sold 4,830 shares of the 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 $58,539.60. Following the completion of the transaction, the director now owns 1,403,915 shares of the company’s stock, valued at approximately $17,015,449.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary Powell sold 5,424 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $12.12, for a total transaction of $65,738.88. Following the transaction, the chief executive officer now directly owns 411,628 shares of the company’s stock, valued at approximately $4,988,931.36. The disclosure for this sale 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 owned by insiders.

Hedge Funds Weigh In On Sunrun

Hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its position in Sunrun by 76.9% in the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after buying an additional 764 shares during the period. Retirement Systems of Alabama boosted its position in Sunrun by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 272,010 shares of the energy company’s stock valued at $5,340,000 after buying an additional 833 shares during the period. Treasurer of the State of North Carolina boosted its position in Sunrun by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock valued at $1,837,000 after buying an additional 910 shares during the period. Manchester Capital Management LLC boosted its position in Sunrun by 41.9% in the 4th quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock valued at $62,000 after buying an additional 938 shares during the period. Finally, Granite Bay Wealth Management LLC boosted its position in Sunrun by 1.6% in the 4th quarter. Granite Bay Wealth Management LLC now owns 71,370 shares of the energy company’s stock valued at $1,401,000 after buying an additional 1,125 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Price 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 company has a market cap of $2.21 billion, a PE ratio of -1.36 and a beta of 2.46. The company’s 50-day simple moving average is $12.22 and its 200 day simple moving average is $13.20.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. The firm had revenue of $516.59 million during the quarter, compared to analyst estimates of $499.74 million. On average, sell-side analysts predict that Sunrun Inc. will post -1.74 earnings per share for the current fiscal year.

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.