Sunrun (NASDAQ:RUN) Sets New 52-Week Low Following Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN)’s share price reached a new 52-week low on Friday after TD Cowen lowered their price target on the stock from $18.00 to $14.00. TD Cowen currently has a buy rating on the stock. Sunrun traded as low as $7.17 and last traded at $7.21, with a volume of 2247034 shares traded. The stock had previously closed at $7.91.

Other research analysts also recently issued research reports about the company. Truist Financial reiterated a “hold” rating and set a $12.00 price target (down previously from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. BNP Paribas raised Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 target price on the stock in a research note on Tuesday, January 7th. Oppenheimer reduced their price target on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Morgan Stanley lowered their price objective on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Finally, Barclays dropped their price objective on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.01.

Insider Transactions at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $9.42, for a total value of $471,000.00. Following the transaction, the director now directly owns 1,041,753 shares of the company’s stock, valued at $9,813,313.26. The trade was a 4.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Paul S. Dickson sold 2,968 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $33,182.24. Following the transaction, the executive now owns 418,492 shares of the company’s stock, valued at approximately $4,678,740.56. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,830 shares of company stock worth $1,572,147. 3.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunrun

A number of institutional investors and hedge funds have recently bought and sold shares of RUN. Aster Capital Management DIFC Ltd acquired a new position in Sunrun in the 4th quarter valued at approximately $29,000. International Assets Investment Management LLC increased its position in shares of Sunrun by 1,706.3% during the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after purchasing an additional 1,638 shares during the period. Newbridge Financial Services Group Inc. raised its stake in shares of Sunrun by 133.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after purchasing an additional 2,000 shares in the last quarter. Blue Trust Inc. lifted its position in Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,465 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Sunrun during the third quarter worth $44,000. Institutional investors own 91.69% of the company’s stock.

Sunrun Price Performance

The stock has a market cap of $1.58 billion, a P/E ratio of -3.94 and a beta of 2.59. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The company’s fifty day simple moving average is $9.33 and its 200-day simple moving average is $13.19.

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.