Sunrun (NASDAQ:RUN) Shares Down 4.8% After Insider Selling

Sunrun Inc. (NASDAQ:RUN)’s stock price fell 4.8% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $10.14 and last traded at $10.18. 1,297,568 shares changed hands during trading, a decline of 91% from the average session volume of 14,290,282 shares. The stock had previously closed at $10.69.

Specifically, Director Lynn Michelle Jurich sold 2,836 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.01, for a total transaction of $28,388.36. Following the completion of the transaction, the director now owns 1,399,810 shares in the company, valued at $14,012,098.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Lynn Michelle Jurich sold 2,836 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $10.01, for a total value of $28,388.36. Following the completion of the transaction, the director now directly owns 1,399,810 shares of the company’s stock, valued at $14,012,098.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward Harris Fenster sold 172,920 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total value of $2,066,394.00. Following the transaction, the director now owns 1,261,317 shares in the company, valued at approximately $15,072,738.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 301,760 shares of company stock worth $3,615,990. 3.76% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Royal Bank of Canada reduced their price objective on Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. KeyCorp reaffirmed a “sector weight” rating on shares of Sunrun in a research report on Thursday, January 4th. Oppenheimer reiterated an “outperform” rating and issued a $19.00 price target on shares of Sunrun in a research note on Thursday, February 22nd. Susquehanna restated a “positive” rating and set a $25.00 price objective on shares of Sunrun in a research note on Friday, April 5th. Finally, Janney Montgomery Scott downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th. One analyst has 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.53.

Sunrun Stock Up 5.0 %

The company’s 50-day moving average price is $12.58 and its 200 day moving average price is $13.19. 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 cap of $2.38 billion, a PE ratio of -1.47 and a beta of 2.46.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, February 21st. The energy company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). The business had revenue of $516.59 million for the quarter, compared to analysts’ expectations of $499.74 million. Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. As a group, analysts forecast that Sunrun Inc. will post -1.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Sunrun

Several hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in Sunrun in the third quarter worth about $26,000. C M Bidwell & Associates Ltd. raised its stake in Sunrun by 1,483.9% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 2,360 shares of the energy company’s stock worth $30,000 after acquiring an additional 2,211 shares during the period. Fifth Third Bancorp lifted its holdings in Sunrun by 76.9% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after purchasing an additional 764 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Sunrun by 149.7% during the fourth quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock valued at $37,000 after purchasing an additional 1,127 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in shares of Sunrun by 69.8% in the third quarter. Hexagon Capital Partners LLC now owns 3,345 shares of the energy company’s stock worth $42,000 after purchasing an additional 1,375 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.