Sunrun (NASDAQ:RUN) Shares Down 7.9% – Here’s Why

Sunrun Inc. (NASDAQ:RUN)’s stock price fell 7.9% during trading on Monday . The stock traded as low as $15.41 and last traded at $15.4030. 7,053,990 shares were traded during mid-day trading, a decline of 24% from the average session volume of 9,245,966 shares. The stock had previously closed at $16.72.

Wall Street Analyst Weigh In

Several research firms recently commented on RUN. Jefferies Financial Group dropped their target price on Sunrun from $22.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, April 7th. TD Cowen dropped their target price on Sunrun from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Wall Street Zen lowered Sunrun from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Susquehanna dropped their target price on Sunrun from $24.00 to $19.00 and set a “positive” rating on the stock in a report on Thursday, April 9th. Finally, UBS Group dropped their target price on Sunrun from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.48.

Sunrun Stock Performance

The firm has a fifty day simple moving average of $13.40 and a 200-day simple moving average of $16.33. The company has a market cap of $3.66 billion, a PE ratio of 7.20 and a beta of 2.32. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The firm had revenue of $722.23 million for the quarter, compared to analyst estimates of $688.50 million. During the same quarter last year, the company posted $0.20 earnings per share. The business’s revenue was up 43.2% on a year-over-year basis. On average, research analysts forecast that Sunrun Inc. will post 1.09 EPS for the current fiscal year.

Insider Activity

In related news, insider Jeanna Steele sold 76,478 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $13.25, for a total transaction of $1,013,333.50. Following the transaction, the insider owned 384,538 shares of the company’s stock, valued at $5,095,128.50. This trade represents a 16.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 132,953 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $13.25, for a total value of $1,761,627.25. Following the transaction, the chief financial officer directly owned 432,157 shares in the company, valued at approximately $5,726,080.25. This represents a 23.53% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 648,868 shares of company stock valued at $8,616,016. Insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its holdings in shares of Sunrun by 156.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock worth $27,000 after buying an additional 885 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Sunrun during the fourth quarter worth about $27,000. Sycomore Asset Management purchased a new position in shares of Sunrun during the third quarter worth about $28,000. Hantz Financial Services Inc. boosted its holdings in Sunrun by 59.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock valued at $28,000 after purchasing an additional 564 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Sunrun in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors 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.