Sunrun (NASDAQ:RUN) Reaches New 52-Week Low – Should You Sell?

Sunrun Inc. (NASDAQ:RUN)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $7.90 and last traded at $8.00, with a volume of 8641820 shares trading hands. The stock had previously closed at $8.10.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Guggenheim lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. The Goldman Sachs Group dropped their price target on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. BMO Capital Markets lowered their price objective on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating on the stock in a research note on Monday, November 11th. Truist Financial reiterated a “hold” rating and set a $12.00 price objective (down previously from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. Finally, BNP Paribas upgraded shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective on the stock in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.36.

Sunrun Trading Down 1.2 %

The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The company’s 50-day simple moving average is $9.69 and its 200-day simple moving average is $13.83.

Insider Buying and Selling

In related news, CRO Paul S. Dickson sold 2,968 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $33,182.24. Following the completion of the transaction, the executive now owns 418,492 shares of the company’s stock, valued at approximately $4,678,740.56. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $9.42, for a total transaction of $471,000.00. Following the completion of the transaction, the director now directly owns 1,041,753 shares of the company’s stock, valued at $9,813,313.26. This represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,830 shares of company stock valued at $1,614,147. Company insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

A number of institutional investors have recently modified their holdings of the stock. ExodusPoint Capital Management LP boosted its stake in shares of Sunrun by 54.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 146,815 shares of the energy company’s stock valued at $1,358,000 after buying an additional 51,972 shares during the period. National Bank of Canada FI boosted its stake in shares of Sunrun by 75.0% during the 4th quarter. National Bank of Canada FI now owns 25,698 shares of the energy company’s stock valued at $238,000 after buying an additional 11,012 shares during the period. Franklin Resources Inc. boosted its stake in shares of Sunrun by 180.1% during the 4th quarter. Franklin Resources Inc. now owns 138,891 shares of the energy company’s stock valued at $1,285,000 after buying an additional 89,299 shares during the period. SCP Investment LP acquired a new stake in shares of Sunrun during the 4th quarter valued at $137,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Sunrun during the 4th quarter valued at $53,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Sunrun

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.