Sunrun Inc. (NASDAQ:RUN – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $8.03 and last traded at $7.8710, with a volume of 885074 shares changing hands. The stock had previously closed at $8.35.
Analysts Set New Price Targets
A number of research firms have recently commented on RUN. Wells Fargo & Company reduced their price objective on shares of Sunrun from $22.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, August 14th. Weiss Ratings raised shares of Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, September 8th. UBS Group dropped their price target on shares of Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Citigroup decreased their price objective on Sunrun from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Finally, Glj Research reiterated a “sell” rating and issued a $4.63 price objective on shares of Sunrun in a research note on Monday, August 17th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Sunrun currently has an average rating of “Hold” and a consensus target price of $16.70.
Sunrun Price Performance
Sunrun (NASDAQ:RUN – Get Free Report) last announced its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The business had revenue of $869.99 million during the quarter, compared to analysts’ expectations of $746.87 million. During the same quarter last year, the company posted $1.07 EPS. The firm’s revenue for the quarter was up 52.8% on a year-over-year basis. On average, equities research analysts predict that Sunrun Inc. will post 1.18 earnings per share for the current fiscal year.
Insider Activity
In other news, CAO Maria Barak sold 3,278 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $12.17, for a total transaction of $39,893.26. Following the completion of the sale, the chief accounting officer owned 90,033 shares of the company’s stock, valued at approximately $1,095,701.61. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mary Powell sold 23,985 shares of Sunrun stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $316,362.15. Following the completion of the transaction, the chief executive officer owned 1,111,535 shares of the company’s stock, valued at $14,661,146.65. This trade represents a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 171,015 shares of company stock valued at $2,111,653. Corporate insiders own 3.55% of the company’s stock.
Hedge Funds Weigh In On Sunrun
Institutional investors have recently bought and sold shares of the business. U S Wealth Group LLC. grew its holdings in Sunrun by 23.1% during the 2nd quarter. U S Wealth Group LLC. now owns 95,946 shares of the energy company’s stock worth $1,284,000 after acquiring an additional 18,006 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Sunrun in the second quarter worth about $594,000. Engineers Gate Manager LP acquired a new position in shares of Sunrun during the second quarter worth approximately $328,000. Nykredit A S acquired a new position in shares of Sunrun during the second quarter worth approximately $78,000. Finally, Amundi grew its stake in shares of Sunrun by 3.9% during the second quarter. Amundi now owns 3,428,504 shares of the energy company’s stock valued at $45,845,000 after purchasing an additional 127,878 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.
Sunrun Company Profile
Sunrun Inc is a provider of residential solar energy and battery-storage solutions. The company designs, sells, installs, owns and maintains solar energy systems for homeowners, helping customers generate electricity on-site and reduce reliance on conventional utility power.
Sunrun offers solar systems through customer purchase arrangements as well as subscription-based plans, including leases and power purchase agreements. Under these arrangements, Sunrun may retain ownership of the system and provide ongoing monitoring, maintenance and customer support.
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