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

Sunrun Inc. (NASDAQ:RUN)’s share price reached a new 52-week low on Wednesday. The stock traded as low as $7.49 and last traded at $7.72, with a volume of 8592511 shares trading hands. The stock had previously closed at $7.67.

Wall Street Analysts Forecast Growth

RUN has been the subject of a number of recent analyst reports. Susquehanna cut their price target on shares of Sunrun from $18.00 to $15.00 and set a “positive” rating for the company in a report on Friday, August 7th. Royal Bank Of Canada lowered their price objective on Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Glj Research reissued a “sell” rating and set a $4.63 target price on shares of Sunrun in a research note on Monday, August 17th. TD Cowen reduced their target price on Sunrun from $21.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Wall Street Zen raised Sunrun from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $16.70.

Sunrun Price Performance

The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42. The stock has a market cap of $1.84 billion, a PE ratio of 5.16 and a beta of 2.44. The stock’s 50-day moving average is $9.10 and its two-hundred day moving average is $11.74.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The company had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. During the same quarter in the previous year, the company earned $1.07 earnings per share. The firm’s quarterly revenue was up 52.8% compared to the same quarter last year. On average, equities analysts predict that Sunrun Inc. will post 1.19 earnings per share for the current year.

Insider Transactions at Sunrun

In related news, CRO Paul Dickson sold 15,613 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.18, for a total value of $205,779.34. Following the sale, the executive owned 839,539 shares in the company, valued at approximately $11,065,124.02. The trade was a 1.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Maria Barak sold 3,278 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $12.17, for a total value of $39,893.26. Following the transaction, the chief accounting officer directly owned 90,033 shares in the company, valued at approximately $1,095,701.61. The trade was a 3.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 121,015 shares of company stock worth $1,431,153. 3.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in Sunrun by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock worth $104,220,000 after buying an additional 205,627 shares during the period. Contour Asset Management LLC purchased a new position in Sunrun in the 4th quarter valued at approximately $98,010,000. Dimensional Fund Advisors LP grew its stake in shares of Sunrun by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock worth $88,375,000 after acquiring an additional 165,196 shares in the last quarter. Erste Asset Management GmbH grew its stake in shares of Sunrun by 10.7% in the fourth quarter. Erste Asset Management GmbH now owns 3,412,900 shares of the energy company’s stock worth $67,582,000 after acquiring an additional 330,666 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Sunrun during the fourth quarter worth $62,169,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Company Profile

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.