Sunrun (NASDAQ:RUN) Reaches New 52-Week Low on Insider Selling

Sunrun Inc. (NASDAQ:RUN) shares reached a new 52-week low during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $8.95 and last traded at $9.01, with a volume of 9309078 shares. The stock had previously closed at $9.44.

Specifically, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $9.59, for a total value of $479,500.00. Following the transaction, the director now owns 991,753 shares of the company’s stock, valued at approximately $9,510,911.27. This trade represents a 4.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RUN. Piper Sandler downgraded Sunrun from an “overweight” rating to a “neutral” rating and cut their price target for the company from $23.00 to $11.00 in a research note on Friday, November 22nd. TD Cowen began coverage on shares of Sunrun in a report on Thursday, December 19th. They issued a “buy” rating and a $21.00 price target for the company. Truist Financial restated a “hold” rating and issued a $12.00 price target (down from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. BNP Paribas upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley cut their target price on Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.11.

Sunrun Price Performance

The business has a fifty day moving average of $10.22 and a 200 day moving average of $14.56. The firm has a market cap of $2.10 billion, a P/E ratio of -5.13 and a beta of 2.58. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Sunrun (NASDAQ:RUN) last issued its earnings results on Thursday, November 7th. The energy company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.21). Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The business had revenue of $537.17 million for the quarter, compared to the consensus estimate of $560.60 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, sell-side analysts anticipate that Sunrun Inc. will post -0.41 earnings per share for the current year.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently modified their holdings of RUN. Swedbank AB increased its stake in shares of Sunrun by 12.8% during the fourth quarter. Swedbank AB now owns 218,911 shares of the energy company’s stock worth $2,025,000 after purchasing an additional 24,792 shares during the period. Pacific Capital Wealth Advisors Inc. grew its holdings in Sunrun by 102.9% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 80,732 shares of the energy company’s stock valued at $747,000 after buying an additional 40,942 shares in the last quarter. Ridgecrest Wealth Partners LLC grew its holdings in Sunrun by 11.0% in the 4th quarter. Ridgecrest Wealth Partners LLC now owns 80,000 shares of the energy company’s stock valued at $740,000 after buying an additional 7,929 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Sunrun during the 4th quarter worth $56,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Sunrun during the fourth quarter worth $118,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.