Sunrun Inc. (NASDAQ:RUN)’s stock price fell 8.8% during mid-day trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $86.00 to $69.00. The stock traded as low as $25.97 and last traded at $26.22. 487,963 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 5,959,848 shares. The stock had previously closed at $28.75.
A number of other research firms also recently weighed in on RUN. Truist Financial raised their price target on shares of Sunrun from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, November 8th. BMO Capital Markets raised their price target on shares of Sunrun from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, November 5th. Zacks Investment Research downgraded shares of Sunrun from a “buy” rating to a “hold” rating in a report on Thursday, November 4th. Piper Sandler decreased their price objective on shares of Sunrun from $77.00 to $57.00 in a report on Friday, January 7th. Finally, Needham & Company LLC decreased their price objective on shares of Sunrun from $75.00 to $70.00 and set a “buy” rating for the company in a report on Friday, November 5th. Two analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $75.15.
In other news, General Counsel Jeanna Steele sold 5,995 shares of Sunrun stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $60.29, for a total transaction of $361,438.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Michelle Philpot sold 5,204 shares of the business’s stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $60.01, for a total value of $312,292.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,919 shares of company stock worth $3,701,188. Company insiders own 4.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of RUN. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Sunrun by 48.0% during the second quarter. Kayne Anderson Capital Advisors LP now owns 160,525 shares of the energy company’s stock worth $8,954,000 after buying an additional 52,050 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Sunrun by 472.0% during the second quarter. 1832 Asset Management L.P. now owns 280,288 shares of the energy company’s stock worth $15,925,000 after buying an additional 231,288 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Sunrun by 55.2% during the second quarter. Parametric Portfolio Associates LLC now owns 234,327 shares of the energy company’s stock worth $13,071,000 after buying an additional 83,377 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Sunrun by 24.8% during the second quarter. Envestnet Asset Management Inc. now owns 22,847 shares of the energy company’s stock valued at $1,274,000 after purchasing an additional 4,542 shares during the period. Finally, Koshinski Asset Management Inc. bought a new stake in shares of Sunrun during the third quarter valued at approximately $172,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.
The firm has a market capitalization of $5.42 billion, a P/E ratio of -23.88 and a beta of 2.05. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average price of $39.62 and a 200-day moving average price of $45.60.
Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Thursday, November 4th. The energy company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. The business had revenue of $438.77 million for the quarter, compared to analysts’ expectations of $413.74 million. Sunrun had a negative return on equity of 0.54% and a negative net margin of 14.06%. Sunrun’s quarterly revenue was up 109.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 earnings per share. As a group, sell-side analysts forecast that Sunrun Inc. will post -0.08 EPS for the current year.
Sunrun Company Profile (NASDAQ:RUN)
SunRun, Inc engages in the design, development, installation, sale, ownership and maintenance of residential solar energy systems. It sells solar service offerings and install solar energy systems for homeowners through its direct-to-consumer channel. The firm also offers plans such as monthly lease, full amount lease, purchase system, and monthly loan.
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