Sunrun (NASDAQ:RUN) Sets New 1-Year Low Following Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN)’s share price hit a new 52-week low during mid-day trading on Friday after TD Cowen lowered their price target on the stock from $18.00 to $14.00. TD Cowen currently has a buy rating on the stock. Sunrun traded as low as $7.17 and last traded at $7.21, with a volume of 2247034 shares traded. The stock had previously closed at $7.91.

A number of other equities research analysts have also recently issued reports on RUN. Morgan Stanley decreased their target price on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Oppenheimer decreased their target price on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group decreased their target price on Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. Piper Sandler cut Sunrun from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $11.00 in a research report on Friday, November 22nd. Finally, BMO Capital Markets reduced their price objective on Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.01.

Insiders Place Their Bets

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction 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 in the company, valued at $9,813,313.26. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mary Powell sold 4,350 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $48,633.00. Following the transaction, the chief executive officer now owns 560,321 shares of the company’s stock, valued at $6,264,388.78. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,830 shares of company stock worth $1,572,147 over the last three months. 3.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunrun

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp increased its stake in shares of Sunrun by 1.8% in the third quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock valued at $905,000 after buying an additional 886 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Sunrun by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company’s stock valued at $229,000 after buying an additional 1,360 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after buying an additional 1,465 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after buying an additional 1,638 shares in the last quarter. Finally, Guggenheim Capital LLC increased its stake in shares of Sunrun by 6.8% in the fourth quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company’s stock valued at $253,000 after buying an additional 1,749 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Stock Performance

The stock has a 50 day moving average price of $9.33 and a two-hundred day moving average price of $13.19. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -3.98 and a beta of 2.59. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

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.