Sunrun (NASDAQ:RUN) Reaches New 12-Month Low – Here’s What Happened

Sunrun Inc. (NASDAQ:RUN)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $8.19 and last traded at $8.2610, with a volume of 6980415 shares trading hands. The stock had previously closed at $8.40.

Analyst Ratings Changes

Several brokerages have recently commented on RUN. Roth Capital reaffirmed a “buy” rating on shares of Sunrun in a research note on Thursday, July 9th. Wells Fargo & Company decreased their price target on Sunrun from $22.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, August 14th. Zacks Research cut Sunrun from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $20.00 target price on shares of Sunrun in a research note on Thursday, August 6th. Finally, TD Cowen decreased their target price on Sunrun from $21.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Twelve equities 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 company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $16.81.

Sunrun Stock Up 5.6%

The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 5.90 and a beta of 2.37. The business’s fifty day moving average price is $9.85 and its 200 day moving average price is $12.01.

Sunrun (NASDAQ:RUN) last released 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. The business had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The company’s revenue for the quarter was up 52.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. On average, equities analysts expect that Sunrun Inc. will post 1.18 EPS for the current year.

Insider Transactions at Sunrun

In other Sunrun news, CRO Paul Dickson sold 15,613 shares of the firm’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 completion of the sale, the executive owned 839,539 shares of the company’s stock, valued at approximately $11,065,124.02. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeanna Steele sold 9,897 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $130,541.43. Following the transaction, the insider directly owned 461,715 shares in the company, valued at approximately $6,090,020.85. This trade represents a 2.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 171,015 shares of company stock valued at $2,111,653 in the last three months. Insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Contour Asset Management LLC acquired a new position in Sunrun in the 4th quarter valued at $98,010,000. Norges Bank acquired a new stake in shares of Sunrun during the fourth quarter worth $62,169,000. Bank of America Corp DE purchased a new stake in shares of Sunrun in the second quarter valued at $29,953,000. Bank of New York Mellon Corp acquired a new position in Sunrun in the second quarter valued at $18,120,000. Finally, Amundi lifted its position in Sunrun by 56.3% during the first 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 period. 91.69% of the stock is owned by hedge funds and other institutional investors.

About Sunrun

Sunrun Inc is a provider of residential solar energy and battery-storage solutions. The company designs, sells, installs, owns and maintains solar energy systems for homeowners, helping customers generate electricity on-site and reduce reliance on conventional utility power.

Sunrun offers solar systems through customer purchase arrangements as well as subscription-based plans, including leases and power purchase agreements. Under these arrangements, Sunrun may retain ownership of the system and provide ongoing monitoring, maintenance and customer support.