Sunrun (NASDAQ:RUN) Trading Down 7.9% on Insider Selling

Sunrun Inc. (NASDAQ:RUN)’s stock price fell 7.9% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $15.41 and last traded at $15.4030. 7,053,990 shares were traded during trading, a decline of 24% from the average session volume of 9,245,966 shares. The stock had previously closed at $16.72.

Specifically, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $15.92, for a total transaction of $796,000.00. Following the sale, the director owned 459,091 shares in the company, valued at $7,308,728.72. This represents a 9.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

Several brokerages have weighed in on RUN. Weiss Ratings downgraded Sunrun from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. UBS Group cut their price target on Sunrun from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Loop Capital set a $12.00 price target on Sunrun in a report on Tuesday, March 3rd. Glj Research restated a “sell” rating and set a $4.63 price target on shares of Sunrun in a report on Thursday, April 16th. Finally, Zacks Research upgraded Sunrun from a “hold” rating to a “strong-buy” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and an average target price of $18.48.

Sunrun Trading Down 2.1%

The firm has a market cap of $3.64 billion, a PE ratio of 7.16 and a beta of 2.32. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 3.44. The business has a fifty day moving average price of $13.45 and a 200 day moving average price of $16.30.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The business had revenue of $722.23 million for the quarter, compared to the consensus estimate of $688.50 million. During the same quarter in the prior year, the business posted $0.20 EPS. The business’s revenue for the quarter was up 43.2% on a year-over-year basis. Analysts forecast that Sunrun Inc. will post 1.09 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RUN. Bank of America Corp DE grew its stake in Sunrun by 74.7% during the 1st quarter. Bank of America Corp DE now owns 2,054,524 shares of the energy company’s stock worth $27,859,000 after buying an additional 878,319 shares during the last quarter. Amundi grew its stake in Sunrun by 56.3% during the 1st quarter. Amundi now owns 3,300,626 shares of the energy company’s stock worth $44,798,000 after buying an additional 1,188,564 shares during the last quarter. California State Teachers Retirement System grew its stake in Sunrun by 22.4% during the 1st quarter. California State Teachers Retirement System now owns 267,162 shares of the energy company’s stock worth $3,623,000 after buying an additional 48,965 shares during the last quarter. Empowered Funds LLC grew its stake in Sunrun by 26.3% during the 1st quarter. Empowered Funds LLC now owns 20,856 shares of the energy company’s stock worth $283,000 after buying an additional 4,342 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Sunrun by 3.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 149,359 shares of the energy company’s stock worth $2,025,000 after buying an additional 5,545 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Company Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.