Sunrun Inc. (NASDAQ:RUN – Get Rating)’s share price fell 4.5% during trading on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $33.00 to $27.00. The company traded as low as $19.09 and last traded at $19.14. 2,156,273 shares changed hands during trading, a decline of 75% from the average session volume of 8,731,613 shares. The stock had previously closed at $20.05.
RUN has been the subject of a number of other research reports. Bank of America upped their target price on Sunrun from $40.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Oppenheimer decreased their target price on Sunrun from $70.00 to $49.00 and set an “outperform” rating for the company in a report on Thursday, February 23rd. BMO Capital Markets decreased their target price on Sunrun from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, February 23rd. Morgan Stanley decreased their price objective on Sunrun from $65.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, April 3rd. Finally, Truist Financial lowered their price objective on Sunrun from $52.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, February 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.79.
Insider Activity at Sunrun
In related news, CFO Danny Abajian sold 9,839 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $25.51, for a total value of $250,992.89. Following the transaction, the chief financial officer now directly owns 178,288 shares of the company’s stock, valued at approximately $4,548,126.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sunrun news, CFO Danny Abajian sold 9,839 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $25.51, for a total value of $250,992.89. Following the completion of the transaction, the chief financial officer now owns 178,288 shares of the company’s stock, valued at approximately $4,548,126.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mary Powell sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $23.73, for a total transaction of $33,222.00. Following the sale, the chief executive officer now directly owns 187,894 shares in the company, valued at approximately $4,458,724.62. The disclosure for this sale can be found here. Insiders sold 178,012 shares of company stock valued at $4,280,034 over the last 90 days. Corporate insiders own 4.29% of the company’s stock.
Institutional Investors Weigh In On Sunrun
A number of large investors have recently added to or reduced their stakes in RUN. American Century Companies Inc. lifted its holdings in Sunrun by 24.2% in the first quarter. American Century Companies Inc. now owns 13,754 shares of the energy company’s stock valued at $417,000 after acquiring an additional 2,679 shares during the period. US Bancorp DE lifted its holdings in Sunrun by 123.5% in the first quarter. US Bancorp DE now owns 6,534 shares of the energy company’s stock valued at $198,000 after acquiring an additional 3,611 shares during the period. Private Advisor Group LLC lifted its holdings in Sunrun by 37.1% in the first quarter. Private Advisor Group LLC now owns 19,786 shares of the energy company’s stock valued at $601,000 after acquiring an additional 5,349 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Sunrun by 58.7% in the first quarter. PNC Financial Services Group Inc. now owns 10,836 shares of the energy company’s stock valued at $329,000 after acquiring an additional 4,010 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Sunrun by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 75,865 shares of the energy company’s stock valued at $2,304,000 after acquiring an additional 7,233 shares during the period. Institutional investors own 86.21% of the company’s stock.
Sunrun Stock Performance
The business has a fifty day simple moving average of $21.69 and a two-hundred day simple moving average of $24.88. The company has a quick ratio of 1.14, a current ratio of 1.82 and a debt-to-equity ratio of 1.13. The company has a market cap of $4.13 billion, a P/E ratio of 25.04 and a beta of 2.34.
Sunrun (NASDAQ:RUN – Get Rating) last posted its earnings results on Wednesday, February 22nd. The energy company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.26. Sunrun had a return on equity of 2.37% and a net margin of 7.47%. The company had revenue of $609.20 million for the quarter, compared to the consensus estimate of $588.89 million. During the same quarter in the prior year, the company earned ($0.11) earnings per share. Sunrun’s revenue was up 40.0% on a year-over-year basis. On average, sell-side analysts anticipate that Sunrun Inc. will post -0.19 EPS for the current year.
Sunrun Company Profile
Sunrun, Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems. It sells solar service offerings and installs solar energy systems for homeowners. Customers can access its products through three channels: direct-to-consumer, solar partnerships, and strategic partnerships.