Sunrun (NASDAQ:RUN) Announces Earnings Results, Beats Estimates By $0.09 EPS

Sunrun (NASDAQ:RUN) posted its quarterly earnings data on Wednesday. The energy company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.09, Briefing.com reports. The company had revenue of $458.20 million during the quarter, compared to analyst estimates of $471.38 million. Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. Sunrun’s quarterly revenue was down 22.3% on a year-over-year basis. During the same period in the previous year, the business earned ($1.12) EPS.

Sunrun Stock Performance

Shares of Sunrun stock traded up $0.07 during trading on Thursday, reaching $11.58. The company’s stock had a trading volume of 8,260,143 shares, compared to its average volume of 13,577,026. The company has a 50-day moving average price of $11.35 and a two-hundred day moving average price of $13.14. Sunrun has a fifty-two week low of $8.43 and a fifty-two week high of $23.85. The firm has a market cap of $2.57 billion, a PE ratio of -1.64 and a beta of 2.50. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 1.68.

Insider Buying and Selling

In related news, Director Alan Ferber purchased 10,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $97,300. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Jeanna Steele sold 8,187 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $12.11, for a total transaction of $99,144.57. Following the transaction, the insider now directly owns 239,724 shares of the company’s stock, valued at approximately $2,903,057.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alan Ferber acquired 10,000 shares of Sunrun stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $9.73 per share, with a total value of $97,300.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $97,300. The disclosure for this purchase can be found here. Insiders sold a total of 301,760 shares of company stock worth $3,615,990 in the last 90 days. Company insiders own 3.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Janney Montgomery Scott lowered Sunrun from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 27th. BMO Capital Markets lifted their price target on Sunrun from $18.00 to $20.00 and gave the stock a “market perform” rating in a report on Thursday, February 22nd. Piper Sandler dropped their price objective on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Susquehanna reduced their target price on shares of Sunrun from $25.00 to $23.00 and set a “positive” rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group increased their price target on shares of Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.16.

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.