Sunrun (NASDAQ:RUN) Shares Gap Down Following Insider Selling

Sunrun Inc. (NASDAQ:RUN) shares gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $11.37, but opened at $10.90. Sunrun shares last traded at $10.56, with a volume of 1,218,586 shares changing hands.

Specifically, CFO Danny Abajian sold 3,734 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $41,746.12. Following the completion of the sale, the chief financial officer now owns 257,969 shares of the company’s stock, valued at approximately $2,884,093.42. This represents a 1.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Paul S. Dickson sold 2,968 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $33,182.24. Following the transaction, the executive now owns 418,492 shares in the company, valued at approximately $4,678,740.56. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CEO Mary Powell sold 4,350 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 560,321 shares of the company’s stock, valued at approximately $6,264,388.78. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company cut their price target 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. Piper Sandler cut Sunrun from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $11.00 in a research note on Friday, November 22nd. BMO Capital Markets decreased their price target on Sunrun from $20.00 to $11.00 and set a “market perform” rating on the stock in a research note on Monday, November 11th. Susquehanna cut their price objective on Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group decreased their target price on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.31.

Sunrun Stock Performance

The company’s fifty day moving average price is $10.92 and its two-hundred day moving average price is $14.81. The firm has a market capitalization of $2.40 billion, a PE ratio of -5.88 and a beta of 2.58. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47.

Institutional Trading of Sunrun

A number of institutional investors and hedge funds 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% 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. Blue Trust Inc. grew its position in 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 acquiring an additional 1,465 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sunrun during the third quarter valued at approximately $44,000. Redwood Wealth Management Group LLC acquired a new position in shares of Sunrun during the second quarter worth $56,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sunrun in the second quarter valued at $104,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.