Sunrun (NASDAQ:RUN) Shares Down 9.7% Following Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN)’s share price traded down 9.7% during mid-day trading on Friday after Wells Fargo & Company lowered their price target on the stock from $20.00 to $15.00. Wells Fargo & Company currently has an overweight rating on the stock. Sunrun traded as low as $10.47 and last traded at $10.48. 3,964,772 shares traded hands during trading, a decline of 67% from the average session volume of 11,875,731 shares. The stock had previously closed at $11.60.

Several other research analysts have also recently issued reports on RUN. BMO Capital Markets increased their price objective on Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 7th. Glj Research reaffirmed a “sell” rating and issued a $7.78 target price on shares of Sunrun in a report on Thursday. BNP Paribas lowered Sunrun from an “outperform” rating to a “neutral” rating and set a $14.00 price target on the stock. in a research note on Friday. Jefferies Financial Group reduced their price objective on Sunrun from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Sunrun has an average rating of “Hold” and an average price target of $21.33.

Insider Buying and Selling at Sunrun

In related news, Director Gerald Alan Risk sold 9,045 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $20.04, for a total transaction of $181,261.80. Following the transaction, the director now directly owns 334,761 shares in the company, valued at approximately $6,708,610.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Mary Powell sold 2,148 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.79, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gerald Alan Risk sold 9,045 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $20.04, for a total value of $181,261.80. Following the sale, the director now owns 334,761 shares of the company’s stock, valued at $6,708,610.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 155,840 shares of company stock worth $2,755,487. Insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of hedge funds have recently made changes to their positions in RUN. International Assets Investment Management LLC lifted its stake in shares of Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,638 shares in the last quarter. Blue Trust Inc. increased its position in shares of Sunrun by 385.5% in the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,465 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new stake in shares of Sunrun in the 2nd quarter valued at about $36,000. CWM LLC lifted its position in shares of Sunrun by 883.9% during the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after purchasing an additional 3,014 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Sunrun during the second quarter worth about $45,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Stock Performance

The company has a fifty day moving average of $16.60 and a two-hundred day moving average of $15.39. The stock has a market capitalization of $2.29 billion, a P/E ratio of -1.61 and a beta of 2.61. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results 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 the consensus estimate of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The business’s quarterly revenue was down 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. On average, equities analysts anticipate that Sunrun Inc. will post -0.17 EPS for the current year.

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.