Sunrun (NASDAQ:RUN) Shares Down 5% After Insider Selling

Sunrun Inc. (NASDAQ:RUN)’s share price dropped 5% during trading on Tuesday following insider selling activity. The company traded as low as $19.28 and last traded at $19.2240. Approximately 1,467,182 shares traded hands during trading, a decline of 90% from the average daily volume of 14,326,488 shares. The stock had previously closed at $20.24.

Specifically, Director Edward Harris Fenster sold 32,787 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $20.00, for a total transaction of $655,740.00. Following the transaction, the director owned 1,492,139 shares of the company’s stock, valued at approximately $29,842,780. The trade was a 2.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RUN. JPMorgan Chase & Co. increased their price objective on shares of Sunrun from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Morgan Stanley raised their price target on Sunrun from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Sunrun in a report on Wednesday, December 17th. Oppenheimer boosted their price target on shares of Sunrun from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Finally, The Goldman Sachs Group raised their price objective on shares of Sunrun from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.58.

Sunrun Price Performance

The stock’s 50 day moving average is $19.08 and its two-hundred day moving average is $15.09. The stock has a market capitalization of $4.47 billion, a PE ratio of -1.73 and a beta of 2.35. The company has a debt-to-equity ratio of 3.67, a current ratio of 1.46 and a quick ratio of 1.06.

Sunrun (NASDAQ:RUN) last issued its earnings results on Thursday, November 6th. The energy company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Sunrun had a negative net margin of 106.50% and a positive return on equity of 19.34%. The firm had revenue of $724.56 million during the quarter, compared to the consensus estimate of $601.15 million. During the same quarter in the previous year, the firm posted ($0.37) earnings per share. The company’s revenue was up 34.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sunrun

Several institutional investors have recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new position in Sunrun during the 1st quarter valued at about $5,259,000. American Century Companies Inc. grew its position in shares of Sunrun by 14.9% in the first quarter. American Century Companies Inc. now owns 182,961 shares of the energy company’s stock valued at $1,072,000 after purchasing an additional 23,772 shares during the last quarter. Northern Trust Corp increased its stake in shares of Sunrun by 17.5% during the 1st quarter. Northern Trust Corp now owns 2,764,452 shares of the energy company’s stock worth $16,200,000 after purchasing an additional 410,800 shares in the last quarter. AlphaQuest LLC raised its position in shares of Sunrun by 401.6% during the 1st quarter. AlphaQuest LLC now owns 60,252 shares of the energy company’s stock worth $353,000 after purchasing an additional 48,239 shares during the last quarter. Finally, Harvest Portfolios Group Inc. lifted its stake in Sunrun by 52.5% in the 1st quarter. Harvest Portfolios Group Inc. now owns 31,143 shares of the energy company’s stock valued at $182,000 after buying an additional 10,728 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.