Sunrun (NASDAQ:RUN) Hits New 52-Week Low on Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN)’s share price reached a new 52-week low on Wednesday after Susquehanna lowered their price target on the stock from $15.00 to $13.00. Susquehanna currently has a positive rating on the stock. Sunrun traded as low as $7.23 and last traded at $7.3650, with a volume of 2,169,315 shares changing hands. The stock had previously closed at $7.79.

RUN has been the topic of a number of other research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Sunrun in a research note on Thursday, August 6th. Barclays lowered their target price on Sunrun from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday. Royal Bank Of Canada dropped their price target on Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Mizuho set a $18.00 price target on Sunrun in a report on Thursday, August 6th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $7.00 price target on shares of Sunrun in a report on Friday. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.81.

Insiders Place Their Bets

In other Sunrun news, CRO Paul S. Dickson sold 15,837 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $122,895.12. Following the completion of the sale, the executive directly owned 823,702 shares in the company, valued at $6,391,927.52. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total value of $188,839.60. Following the completion of the sale, the chief executive officer owned 1,087,200 shares of the company’s stock, valued at approximately $8,436,672. This represents a 2.19% decrease in their ownership of the stock. 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 ninety days, insiders sold 118,719 shares of company stock worth $1,031,277. Corporate insiders own 3.55% of the company’s stock.

Institutional Trading of Sunrun

Several large investors have recently modified their holdings of RUN. Contour Asset Management LLC purchased a new stake in Sunrun during the 4th quarter worth approximately $98,010,000. Bank of America Corp DE purchased a new position in shares of Sunrun during the 2nd quarter valued at approximately $29,953,000. Bank of New York Mellon Corp purchased a new position in shares of Sunrun during the 2nd quarter valued at approximately $18,120,000. Amundi boosted its stake in shares of Sunrun by 56.3% during the 1st quarter. Amundi now owns 3,300,626 shares of the energy company’s stock valued at $44,798,000 after buying an additional 1,188,564 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Sunrun during the second quarter worth approximately $12,483,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Price Performance

The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. The business’s 50-day moving average price is $8.73 and its two-hundred day moving average price is $11.45. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 4.99 and a beta of 2.44.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.23 by $0.19. The business had revenue of $869.99 million for the quarter, compared to analysts’ expectations of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The company’s quarterly revenue was up 52.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.07 earnings per share. On average, research analysts forecast that Sunrun Inc. will post 1.16 EPS for the current fiscal year.

About Sunrun

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.