Sunrun (NASDAQ:RUN) Sets New 12-Month Low on Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN)’s stock price hit a new 52-week low 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 changing hands. The stock had previously closed at $10.06.

A number of other research firms also recently commented on RUN. Jefferies Financial Group cut their target price on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Truist Financial reaffirmed a “hold” rating and issued a $12.00 price objective (down previously from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. BNP Paribas cut Sunrun from an “outperform” rating to a “neutral” rating and set a $14.00 price objective for the company. in a research report on Friday, November 8th. StockNews.com raised Sunrun to a “sell” rating in a research report on Friday, September 27th. Finally, Guggenheim lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.12.

Insider Buying and Selling

In other Sunrun news, CFO Danny Abajian sold 4,869 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.35, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $9.94, for a total value of $497,000.00. Following the completion of the sale, the director now owns 1,092,446 shares of the company’s stock, valued at $10,858,913.24. The trade was a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,691 shares of company stock valued at $2,550,601. Company insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. purchased a new position in Sunrun during the 3rd quarter worth $896,000. Wilmington Savings Fund Society FSB acquired a new stake in Sunrun in the third quarter worth about $44,000. Virtu Financial LLC purchased a new stake in shares of Sunrun during the third quarter worth about $482,000. TCW Group Inc. acquired a new position in shares of Sunrun during the third quarter valued at about $218,000. Finally, Geode Capital Management LLC raised its position in shares of Sunrun by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after purchasing an additional 30,549 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Stock Down 9.0 %

The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -5.03 and a beta of 2.54. 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 business’s 50 day moving average is $12.50 and its 200 day moving average is $15.24.

About Sunrun

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.