Sunrun (NASDAQ:RUN) Sets New 52-Week Low – What’s Next?

Shares of Sunrun Inc. (NASDAQ:RUN) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.19 and last traded at $8.2610, with a volume of 6980415 shares changing hands. The stock had previously closed at $8.40.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RUN shares. Royal Bank Of Canada dropped their target price on Sunrun from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Glj Research reiterated a “sell” rating and set a $4.63 price objective on shares of Sunrun in a research note on Monday, August 17th. Citigroup dropped their price objective on Sunrun from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Zacks Research downgraded Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, UBS Group decreased their price target on Sunrun from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Sunrun currently has a consensus rating of “Hold” and an average target price of $16.81.

Sunrun Stock Down 1.5%

The company has a market cap of $1.99 billion, a PE ratio of 5.59 and a beta of 2.37. The stock has a 50-day moving average of $10.00 and a 200-day moving average of $12.13. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The business had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. During the same period in the prior year, the company earned $1.07 EPS. The company’s quarterly revenue was up 52.8% compared to the same quarter last year. Sell-side analysts predict that Sunrun Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Activity at Sunrun

In other Sunrun news, Director Lynn Jurich sold 50,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $9.96, for a total transaction of $498,000.00. Following the sale, the director owned 367,405 shares in the company, valued at $3,659,353.80. This trade represents a 11.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mary Powell sold 23,985 shares of Sunrun stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $316,362.15. Following the sale, the chief executive officer directly owned 1,111,535 shares of the company’s stock, valued at approximately $14,661,146.65. This trade represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 171,015 shares of company stock worth $2,111,653 in the last three months. 3.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunrun

A number of large investors have recently modified their holdings of the company. U S Wealth Group LLC. boosted its position in Sunrun by 23.1% during the 2nd quarter. U S Wealth Group LLC. now owns 95,946 shares of the energy company’s stock valued at $1,284,000 after buying an additional 18,006 shares during the period. Sequoia Financial Advisors LLC purchased a new position in Sunrun during the 2nd quarter valued at about $594,000. Engineers Gate Manager LP purchased a new position in Sunrun during the 2nd quarter valued at about $328,000. Nykredit A S bought a new position in Sunrun during the 2nd quarter valued at approximately $78,000. Finally, Amundi raised its position in Sunrun by 3.9% during the 2nd quarter. Amundi now owns 3,428,504 shares of the energy company’s stock valued at $45,845,000 after purchasing an additional 127,878 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Company Profile

Sunrun Inc is a provider of residential solar energy and battery-storage solutions. The company designs, sells, installs, owns and maintains solar energy systems for homeowners, helping customers generate electricity on-site and reduce reliance on conventional utility power.

Sunrun offers solar systems through customer purchase arrangements as well as subscription-based plans, including leases and power purchase agreements. Under these arrangements, Sunrun may retain ownership of the system and provide ongoing monitoring, maintenance and customer support.