Sunrun (NASDAQ:RUN) Sets New 12-Month Low – Here’s Why

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. TD Cowen began coverage on Sunrun in a report on Thursday, December 19th. They issued a “buy” rating and a $21.00 target price for the company. Wells Fargo & Company reduced their target price on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Oppenheimer dropped their price target on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Glj Research reissued a “sell” rating and issued a $7.78 price objective on shares of Sunrun in a research report on Thursday, November 7th. Finally, UBS Group upgraded Sunrun from a “neutral” rating to a “buy” rating and boosted their target price for the company from $14.00 to $17.00 in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.31.

Sunrun Stock Down 2.3 %

The business’s fifty day moving average price is $10.30 and its two-hundred day moving average price is $14.66. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The firm has a market capitalization of $2.07 billion, a P/E ratio of -5.07 and a beta of 2.58.

Insider Buying and Selling

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the sale, the director now directly owns 1,041,753 shares of the company’s stock, valued at $9,813,313.26. The trade was a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mary Powell sold 4,350 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 560,321 shares of the company’s stock, valued at $6,264,388.78. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 114,830 shares of company stock worth $1,134,647 in the last ninety days. 3.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunrun

A number of institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC grew its stake in shares of Sunrun by 1,706.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after purchasing an additional 1,638 shares during the period. Blue Trust Inc. boosted its holdings in Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after buying an additional 1,465 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Sunrun during the third quarter valued at $44,000. Wealth Enhancement Advisory Services LLC purchased a new position in Sunrun in the fourth quarter valued at $94,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sunrun in the second quarter worth about $104,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.