Sunrun (NASDAQ:RUN) Sets New 12-Month Low – What’s Next?

Shares of Sunrun Inc. (NASDAQ:RUN) hit a new 52-week low during trading on Thursday . The company traded as low as $7.90 and last traded at $8.00, with a volume of 8641820 shares traded. The stock had previously closed at $8.10.

Analyst Ratings Changes

RUN has been the topic of several research analyst reports. UBS Group upgraded shares of Sunrun from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $17.00 in a research note on Friday, January 10th. JPMorgan Chase & Co. dropped their price objective on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. BNP Paribas raised shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective for the company in a research report on Tuesday, January 7th. Jefferies Financial Group decreased their target price on Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Oppenheimer cut their price target on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.36.

Sunrun Trading Up 2.8 %

The company has a 50-day simple moving average of $9.62 and a 200-day simple moving average of $13.74. 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 stock has a market cap of $1.98 billion, a P/E ratio of -4.85 and a beta of 2.59.

Insider Activity at Sunrun

In other news, CRO Paul S. Dickson sold 2,968 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $33,182.24. Following the completion of the sale, the executive now owns 418,492 shares in the company, valued at $4,678,740.56. The trade was a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $9.59, for a total value of $479,500.00. Following the completion of the transaction, the director now owns 991,753 shares in the company, valued at approximately $9,510,911.27. This represents a 4.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,830 shares of company stock valued at $1,614,147 over the last ninety days. 3.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its holdings in Sunrun by 33.7% in the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock valued at $26,385,000 after buying an additional 367,835 shares during the period. Erste Asset Management GmbH bought a new position in shares of Sunrun in the 3rd quarter worth $76,152,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Sunrun by 113.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock worth $45,426,000 after purchasing an additional 1,337,302 shares during the period. Aigen Investment Management LP bought a new stake in Sunrun in the third quarter valued at about $955,000. Finally, Assenagon Asset Management S.A. lifted its stake in Sunrun by 207.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock valued at $24,843,000 after buying an additional 927,947 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.