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

Shares of Sunrun Inc. (NASDAQ:RUN) hit a new 52-week low on Friday . The company traded as low as $8.22 and last traded at $8.39, with a volume of 8920361 shares. The stock had previously closed at $8.64.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Susquehanna lowered their price target on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. Guggenheim downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley reduced their price objective on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Jefferies Financial Group decreased their price objective on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Truist Financial restated a “hold” rating and set a $12.00 target price (down from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Sunrun presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.36.

Sunrun Trading Down 2.0 %

The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The business’s 50 day moving average price is $9.94 and its 200-day moving average price is $14.11. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -4.65 and a beta of 2.59.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Thursday, November 7th. The energy company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.21). Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. The firm had revenue of $537.17 million for the quarter, compared to analyst estimates of $560.60 million. During the same period in the prior year, the company posted $0.40 earnings per share. Equities analysts expect that Sunrun Inc. will post -0.43 EPS for the current year.

Insider Activity

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $9.94, for a total value of $497,000.00. Following the completion of the sale, the director now owns 1,092,446 shares in the company, valued at $10,858,913.24. This represents a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mary Powell sold 4,350 shares of Sunrun stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $48,633.00. Following the completion of the transaction, the chief executive officer now owns 560,321 shares in the company, valued at approximately $6,264,388.78. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,830 shares of company stock valued at $1,614,147. 3.77% of the stock is currently owned by insiders.

Institutional Trading of Sunrun

A number of hedge funds have recently bought and sold shares of the company. State Street Corp raised its holdings in Sunrun by 0.6% during the third quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock valued at $165,424,000 after buying an additional 54,329 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Sunrun by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock worth $96,019,000 after buying an additional 30,549 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Sunrun in the 3rd quarter worth about $76,152,000. FMR LLC grew its stake in Sunrun by 83.6% during the third quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock worth $61,952,000 after buying an additional 1,562,163 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Sunrun by 113.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock valued at $45,426,000 after acquiring an additional 1,337,302 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Company Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.