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

Shares of Sunrun Inc. (NASDAQ:RUN) dropped 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.

Other equities analysts have also issued research reports about the company. KeyCorp reaffirmed a “sector weight” rating on shares of Sunrun in a research note on Thursday, January 4th. BMO Capital Markets upped their price target on Sunrun from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, February 22nd. Piper Sandler cut their target price on Sunrun from $31.00 to $27.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd. Royal Bank of Canada cut their target price on Sunrun from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Finally, Oppenheimer reissued an “outperform” rating and issued a $19.00 target price on shares of Sunrun in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Sunrun has a consensus rating of “Moderate Buy” and an average price target of $21.26.

Insider Buying and Selling at Sunrun

In other news, Director Edward Harris Fenster sold 172,920 shares of Sunrun stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the completion of the transaction, the director now directly owns 1,261,317 shares in the company, valued at approximately $15,072,738.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Edward Harris Fenster sold 172,920 shares of Sunrun stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the completion of the transaction, the director now directly owns 1,261,317 shares in the company, valued at approximately $15,072,738.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeanna Steele sold 8,187 shares of Sunrun stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $12.11, for a total value of $99,144.57. Following the sale, the insider now directly owns 239,724 shares of the company’s stock, valued at $2,903,057.64. The disclosure for this sale can be found here. Insiders sold a total of 301,760 shares of company stock worth $3,615,990 over the last ninety days. 3.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunrun

Hedge funds have recently added to or reduced their stakes in the company. Diversified Trust Co acquired a new position in Sunrun in the 4th quarter valued at $221,000. Zweig DiMenna Associates LLC raised its holdings in Sunrun by 64.8% in the 3rd quarter. Zweig DiMenna Associates LLC now owns 206,913 shares of the energy company’s stock valued at $2,599,000 after acquiring an additional 81,363 shares in the last quarter. Vanguard Group Inc. raised its holdings in Sunrun by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,405,097 shares of the energy company’s stock valued at $243,728,000 after acquiring an additional 126,321 shares in the last quarter. Deutsche Bank AG raised its holdings in Sunrun by 112.9% in the 3rd quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock valued at $27,969,000 after acquiring an additional 1,180,823 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in Sunrun by 87.8% in the 3rd quarter. Jump Financial LLC now owns 97,123 shares of the energy company’s stock valued at $1,220,000 after acquiring an additional 45,412 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Price Performance

The company has a fifty day simple moving average of $12.12 and a two-hundred day simple moving average of $13.20. 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 stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -1.39 and a beta of 2.46.

Sunrun (NASDAQ:RUN) last issued its quarterly 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 net margin of 71.00% and a negative return on equity of 5.58%. The business had revenue of $516.59 million during the quarter, compared to the consensus estimate of $499.74 million. As a group, equities research analysts expect 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.