Sunrun (NASDAQ:RUN) CEO Mary Powell Sells 24,335 Shares of Company Stock

Sunrun Inc. (NASDAQ:RUN) CEO Mary Powell sold 24,335 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total transaction of $188,839.60. Following the completion of the sale, the chief executive officer owned 1,087,200 shares of the company’s stock, valued at $8,436,672. This trade represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sunrun Stock Down 2.1%

Shares of NASDAQ:RUN traded down $0.16 during trading on Wednesday, hitting $7.61. The stock had a trading volume of 13,376,906 shares, compared to its average volume of 9,299,989. The company has a market capitalization of $1.83 billion, a PE ratio of 5.14 and a beta of 2.44. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34. The firm’s fifty day moving average is $8.97 and its 200 day moving average is $11.63. Sunrun Inc. has a 12 month low of $7.42 and a 12 month high of $22.44.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.19. The company had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The firm’s revenue was up 52.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share. Analysts anticipate that Sunrun Inc. will post 1.19 EPS for the current fiscal year.

Institutional Trading of Sunrun

A number of institutional investors and hedge funds have recently modified their holdings of the business. Contour Asset Management LLC bought a new position in shares of Sunrun during the 4th quarter valued at about $98,010,000. Bank of America Corp DE bought a new stake in shares of Sunrun in the second quarter worth about $29,953,000. Bank of New York Mellon Corp purchased a new stake in shares of Sunrun in the second quarter worth about $18,120,000. Amundi lifted its position in shares of Sunrun by 56.3% in the first quarter. Amundi now owns 3,300,626 shares of the energy company’s stock worth $44,798,000 after buying an additional 1,188,564 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in Sunrun during the second quarter valued at approximately $12,483,000. Institutional investors own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. TD Cowen dropped their price objective on shares of Sunrun from $21.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Oppenheimer reissued an “outperform” rating and issued a $20.00 price target on shares of Sunrun in a research report on Thursday, August 6th. Citigroup cut their price target on Sunrun from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Susquehanna lowered their price objective on Sunrun from $18.00 to $15.00 and set a “positive” rating for the company in a research note on Friday, August 7th. Finally, Roth Capital reissued a “buy” rating on shares of Sunrun in a report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.70.

About Sunrun

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.