Sunrun (NASDAQ:RUN) Shares Gap Down – Time to Sell?

Sunrun Inc. (NASDAQ:RUN) shares gapped down prior to trading on Friday . The stock had previously closed at $20.42, but opened at $16.92. Sunrun shares last traded at $16.8570, with a volume of 3,045,981 shares traded.

Analysts Set New Price Targets

Several research firms have commented on RUN. Morgan Stanley set a $20.00 price target on shares of Sunrun in a research note on Thursday, October 16th. Wells Fargo & Company upped their price target on shares of Sunrun from $8.00 to $14.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Mizuho raised their price objective on Sunrun from $13.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, July 14th. Susquehanna raised their price target on Sunrun from $13.00 to $23.00 and gave the stock a “positive” rating in a research report on Monday, October 13th. Finally, The Goldman Sachs Group raised their target price on shares of Sunrun from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.99.

Sunrun Stock Performance

The company has a market capitalization of $3.82 billion, a PE ratio of -1.44 and a beta of 2.35. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02. The company has a 50 day moving average of $18.41 and a two-hundred day moving average of $12.76.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The company had revenue of $724.56 million during the quarter, compared to analyst estimates of $601.15 million. During the same period last year, the business earned ($0.37) EPS. Sunrun’s quarterly revenue was up 34.9% compared to the same quarter last year. As a group, equities research analysts predict that Sunrun Inc. will post -0.43 earnings per share for the current year.

Insider Activity

In other news, Director Alan Ferber sold 10,927 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $11.24, for a total value of $122,819.48. Following the sale, the director directly owned 54,947 shares of the company’s stock, valued at $617,604.28. The trade was a 16.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeanna Steele sold 21,037 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $20.25, for a total value of $425,999.25. Following the completion of the sale, the insider owned 366,264 shares in the company, valued at $7,416,846. The trade was a 5.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 316,956 shares of company stock valued at $5,952,165. 3.37% of the stock is currently owned by insiders.

Institutional Trading of Sunrun

A number of institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. bought a new position in Sunrun during the third quarter valued at approximately $49,000. Smartleaf Asset Management LLC increased its position in Sunrun by 181.0% during the second quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock valued at $34,000 after acquiring an additional 2,660 shares during the last quarter. Spire Wealth Management lifted its holdings in Sunrun by 960.0% in the second quarter. Spire Wealth Management now owns 5,300 shares of the energy company’s stock valued at $43,000 after acquiring an additional 4,800 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Sunrun by 87.1% in the second quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the energy company’s stock worth $47,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Sunrun during the 3rd quarter valued at about $118,000. Hedge funds and other institutional investors 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.