Sunrun Inc. (NASDAQ:RUN – Get Free Report)’s share price traded down 4.9% on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $14.00 to $12.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Sunrun traded as low as $7.01 and last traded at $6.9450. Approximately 1,269,754 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 9,221,352 shares. The stock had previously closed at $7.30.
Other research analysts have also issued reports about the stock. Susquehanna lowered their target price on shares of Sunrun from $15.00 to $13.00 and set a “positive” rating on the stock in a research note on Wednesday, October 14th. Roth Capital reiterated a “buy” rating on shares of Sunrun in a report on Thursday, July 9th. Jefferies Financial Group reissued a “hold” rating and set a $7.00 target price on shares of Sunrun in a research report on Friday, October 9th. Royal Bank Of Canada cut their target price on shares of Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Finally, Glj Research restated a “sell” rating and set a $4.63 price target on shares of Sunrun in a report on Monday, August 17th. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.39.
Get Our Latest Stock Report on Sunrun
Insider Buying and Selling
In other news, insider Jeanna Steele sold 10,042 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total value of $77,925.92. Following the completion of the sale, the insider directly owned 451,673 shares of the company’s stock, valued at approximately $3,504,982.48. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mary Powell sold 24,335 shares of the firm’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total transaction of $188,839.60. Following the completion of the sale, the chief executive officer owned 1,087,200 shares in the company, valued at approximately $8,436,672. The trade was a 2.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 118,719 shares of company stock worth $1,031,277. 3.55% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Sunrun
Several large investors have recently bought and sold shares of the stock. Allworth Financial LP bought a new stake in shares of Sunrun during the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sunrun in the fourth quarter valued at $27,000. Summit Securities Group LLC acquired a new position in shares of Sunrun in the first quarter valued at $36,000. Nykredit A S bought a new position in Sunrun in the second quarter worth $78,000. Finally, Prime Capital Investment Advisors LLC bought a new position in Sunrun in the third quarter worth $80,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.
Sunrun Stock Performance
The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34. The firm has a 50-day moving average of $8.46 and a 200 day moving average of $11.25. The stock has a market capitalization of $1.82 billion, a P/E ratio of 5.11 and a beta of 2.44.
Sunrun (NASDAQ:RUN – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The firm had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. During the same quarter in the previous year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 52.8% on a year-over-year basis. Research analysts anticipate that Sunrun Inc. will post 1.46 EPS for the current fiscal year.
About Sunrun
Sunrun Inc is a residential clean-energy company that designs, sells, installs, owns and maintains home solar energy systems. The company provides rooftop solar panels and related equipment through purchase and financing options, as well as subscription-based solar-as-a-service arrangements under which customers pay for the electricity their systems produce.
Sunrun also offers home energy storage through its Brightbox battery product. These systems can store solar-generated electricity for use when solar production is unavailable and may provide backup power during grid outages.
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