Sunrun (NASDAQ:RUN) Hits 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 Wednesday after The Goldman Sachs Group lowered their price target on the stock from $19.00 to $17.00. The Goldman Sachs Group currently has a buy rating on the stock. Sunrun traded as low as $9.13 and last traded at $9.23, with a volume of 9554300 shares. The stock had previously closed at $10.06.

A number of other equities analysts have also weighed in on RUN. Morgan Stanley reduced their price objective on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Oppenheimer reduced their price target on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Barclays lowered their price objective on Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Wells Fargo & Company cut their target price on shares of Sunrun from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, Truist Financial reiterated a “hold” rating and issued a $12.00 target price (down from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.12.

Insider Buying and Selling

In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the transaction, the director now owns 1,192,446 shares in the company, valued at approximately $24,087,409.20. This trade represents a 4.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Danny Abajian sold 4,869 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.35, for a total value of $79,608.15. Following the transaction, the chief financial officer now directly owns 269,393 shares in the company, valued at $4,404,575.55. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 169,691 shares of company stock worth $2,550,601. 3.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RUN. CWM LLC raised its stake in shares of Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after acquiring an additional 3,014 shares during the period. SG Americas Securities LLC lifted its stake in Sunrun by 202.3% during the second quarter. SG Americas Securities LLC now owns 38,749 shares of the energy company’s stock worth $460,000 after purchasing an additional 25,931 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Sunrun by 405.4% during the second quarter. Nisa Investment Advisors LLC now owns 60,872 shares of the energy company’s stock worth $722,000 after buying an additional 48,827 shares during the period. &PARTNERS raised its holdings in shares of Sunrun by 1.6% in the 2nd quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock valued at $698,000 after buying an additional 1,019 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in Sunrun by 3.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 111,500 shares of the energy company’s stock worth $1,322,000 after acquiring an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Stock Down 9.0 %

The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $2.05 billion, a PE ratio of -5.03 and a beta of 2.54. The business has a fifty day moving average of $12.50 and a 200 day moving average of $15.24.

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.