Sunrun (NASDAQ:RUN) Shares Down 3.9% Following Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN)’s share price was down 3.9% on Monday after Mizuho lowered their price target on the stock from $28.00 to $23.00. Mizuho currently has a buy rating on the stock. Sunrun traded as low as $9.81 and last traded at $9.85. Approximately 2,639,219 shares traded hands during trading, a decline of 81% from the average daily volume of 14,184,179 shares. The stock had previously closed at $10.25.

Several other equities analysts have also issued reports on the stock. BMO Capital Markets lifted their target price on shares of Sunrun from $18.00 to $20.00 and gave the company a “market perform” rating in a report on Thursday, February 22nd. Susquehanna restated a “positive” rating and issued a $25.00 price objective on shares of Sunrun in a report on Friday, April 5th. Truist Financial reaffirmed a “hold” rating and issued a $14.00 target price (down previously from $15.00) on shares of Sunrun in a research report on Monday, February 26th. 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 note on Friday, March 15th. Finally, KeyCorp restated a “sector weight” rating on shares of Sunrun in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.26.

Insiders Place Their Bets

In related news, Director Alan Ferber acquired 10,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $9.73 per share, with a total value of $97,300.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $97,300. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other Sunrun news, Director Edward Harris Fenster sold 172,920 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the completion of the transaction, the director now owns 1,261,317 shares of the company’s stock, valued at approximately $15,072,738.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Ferber acquired 10,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $9.73 per share, with a total value of $97,300.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $97,300. The disclosure for this purchase can be found here. In the last quarter, insiders sold 301,760 shares of company stock worth $3,615,990. Corporate insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. C M Bidwell & Associates Ltd. lifted its holdings in shares of Sunrun by 1,483.9% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 2,360 shares of the energy company’s stock valued at $30,000 after acquiring an additional 2,211 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Sunrun by 76.9% in the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after acquiring an additional 764 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Sunrun by 149.7% in the 4th quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock valued at $37,000 after acquiring an additional 1,127 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Sunrun by 69.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 3,345 shares of the energy company’s stock valued at $42,000 after acquiring an additional 1,375 shares during the last quarter. Finally, USCF Advisers LLC lifted its holdings in shares of Sunrun by 130.0% in the 4th quarter. USCF Advisers LLC now owns 2,300 shares of the energy company’s stock valued at $45,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Sunrun Trading Up 2.2 %

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 $2.26 billion, a P/E ratio of -1.39 and a beta of 2.46. The stock’s fifty day moving average is $12.12 and its 200 day moving average is $13.20.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.20). The firm had revenue of $516.59 million during the quarter, compared to the consensus estimate of $499.74 million. Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. As a group, equities research analysts predict that Sunrun Inc. will post -1.74 earnings per share for the current fiscal year.

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.