Sunrun (NASDAQ:RUN) Sets New 52-Week Low – Here’s What Happened

Sunrun Inc. (NASDAQ:RUN) reached a new 52-week low on Thursday . The company traded as low as $5.91 and last traded at $5.93, with a volume of 6171934 shares traded. The stock had previously closed at $6.21.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RUN shares. TD Cowen reduced their price objective on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, February 28th. UBS Group decreased their price objective on Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lowered their target price on Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Royal Bank of Canada reduced their price target on Sunrun from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, Wells Fargo & Company decreased their target price on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and an average price target of $17.20.

Sunrun Price Performance

The stock has a fifty day moving average of $7.89 and a two-hundred day moving average of $11.30. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -3.26 and a beta of 2.84. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Insider Buying and Selling at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.10, for a total transaction of $455,000.00. Following the sale, the director now owns 941,753 shares in the company, valued at approximately $8,569,952.30. This trade represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward Harris Fenster purchased 150,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the completion of the acquisition, the director now directly owns 1,358,182 shares in the company, valued at $9,235,637.60. The trade was a 12.42 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 121,466 shares of company stock valued at $1,136,397. Corporate insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Sunrun by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company’s stock valued at $219,679,000 after acquiring an additional 343,448 shares during the last quarter. Greenvale Capital LLP raised its stake in Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock worth $124,875,000 after purchasing an additional 4,516,793 shares during the period. Alyeska Investment Group L.P. raised its stake in Sunrun by 593.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock worth $111,263,000 after purchasing an additional 10,294,947 shares during the period. State Street Corp boosted its holdings in shares of Sunrun by 0.6% in the 3rd quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock valued at $165,424,000 after purchasing an additional 54,329 shares during the last quarter. Finally, Sylebra Capital LLC grew its stake in shares of Sunrun by 124.0% during the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock valued at $61,819,000 after buying an additional 3,699,405 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.