Sunrun (NASDAQ:RUN) Shares Down 5.2% Following Insider Selling

Sunrun Inc. (NASDAQ:RUN) shares dropped 5.2% on Wednesday following insider selling activity. The company traded as low as $8.81 and last traded at $8.75. Approximately 3,471,261 shares traded hands during trading, a decline of 63% from the average daily volume of 9,448,895 shares. The stock had previously closed at $9.22.

Specifically, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $9.59, for a total value of $479,500.00. Following the completion of the sale, the director now directly owns 991,753 shares in the company, valued at approximately $9,510,911.27. This trade represents a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RUN. Wells Fargo & Company cut their price objective on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. BNP Paribas raised shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target for the company in a report on Tuesday, January 7th. Roth Mkm dropped their price objective on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 8th. BMO Capital Markets reduced their target price on Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research note on Monday, November 11th. Finally, UBS Group upgraded Sunrun from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.00 to $17.00 in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.31.

Sunrun Stock Performance

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 firm has a market capitalization of $1.96 billion, a PE ratio of -4.83 and a beta of 2.58. The firm’s 50 day moving average price is $10.29 and its 200-day moving average price is $14.64.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Thursday, November 7th. The energy company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.21). The business had revenue of $537.17 million for the quarter, compared to analysts’ expectations of $560.60 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. During the same quarter in the prior year, the company posted $0.40 EPS. On average, research analysts expect that Sunrun Inc. will post -0.41 EPS for the current year.

Institutional Investors Weigh In On Sunrun

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its holdings in shares of Sunrun by 33.7% during the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock valued at $26,385,000 after acquiring an additional 367,835 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Sunrun during the third quarter worth approximately $76,152,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Sunrun by 113.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock valued at $45,426,000 after purchasing an additional 1,337,302 shares during the last quarter. Aigen Investment Management LP purchased a new position in Sunrun in the 3rd quarter valued at $955,000. Finally, Assenagon Asset Management S.A. boosted its stake in Sunrun by 207.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock worth $24,843,000 after purchasing an additional 927,947 shares during the last quarter. Hedge funds and other institutional investors 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.