Sunrun (NASDAQ:RUN) Sets New 1-Year Low After Insider Selling

Sunrun Inc. (NASDAQ:RUN) shares hit a new 52-week low during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $5.45 and last traded at $5.79, with a volume of 2386868 shares. The stock had previously closed at $5.67.

Specifically, CFO Danny Abajian sold 16,927 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $114,087.98. Following the completion of the transaction, the chief financial officer now directly owns 231,279 shares in the company, valued at approximately $1,558,820.46. This represents a 6.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mary Powell sold 31,197 shares of Sunrun stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $210,267.78. Following the completion of the sale, the chief executive officer now directly owns 534,615 shares in the company, valued at $3,603,305.10. This represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Sunrun news, insider Jeanna Steele sold 9,942 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $67,009.08. Following the transaction, the insider now owns 291,238 shares in the company, valued at approximately $1,962,944.12. This trade represents a 3.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Truist Financial reiterated a “hold” rating and issued a $9.00 target price (down from $12.00) on shares of Sunrun in a research report on Monday, March 3rd. BNP Paribas upgraded shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their target price on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. BMO Capital Markets dropped their price target on Sunrun from $11.00 to $9.00 and set a “market perform” rating for the company in a research report on Monday, March 3rd. Finally, UBS Group lowered their price objective on Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sunrun presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

Sunrun Trading Up 13.6 %

The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm has a market cap of $1.45 billion, a PE ratio of -3.53 and a beta of 2.74. The business has a fifty day moving average price of $7.28 and a 200 day moving average price of $10.41.

Hedge Funds Weigh In On Sunrun

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its position in Sunrun by 0.6% in the third quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock valued at $165,424,000 after acquiring an additional 54,329 shares during the last quarter. Zacks Investment Management purchased a new position in shares of Sunrun during the 3rd quarter worth approximately $538,000. XTX Topco Ltd acquired a new position in Sunrun during the third quarter worth about $618,000. MML Investors Services LLC grew its position in Sunrun by 9.3% during the third quarter. MML Investors Services LLC now owns 43,313 shares of the energy company’s stock worth $782,000 after buying an additional 3,689 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Sunrun by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after acquiring an additional 30,549 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

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.