Sunrun (NASDAQ:RUN) Shares Gap Down – Time to Sell?

Sunrun Inc. (NASDAQ:RUN)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $16.91, but opened at $14.21. Sunrun shares last traded at $12.32, with a volume of 5,642,954 shares changing hands.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Morgan Stanley restated an “overweight” rating and set a $35.00 target price on shares of Sunrun in a research report on Tuesday, September 24th. Susquehanna lowered their price objective on Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research report on Wednesday, October 16th. Piper Sandler raised their price target on Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Glj Research upgraded Sunrun from a “sell” rating to a “hold” rating in a report on Monday, October 28th. Finally, Truist Financial reiterated a “hold” rating and set a $18.00 price objective (up from $12.00) on shares of Sunrun in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Sunrun presently has a consensus rating of “Hold” and an average price target of $22.70.

Sunrun Stock Performance

The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84. The firm has a market cap of $2.66 billion, a PE ratio of -2.00 and a beta of 2.61. The stock’s 50 day moving average price is $17.15 and its 200 day moving average price is $15.44.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, beating the consensus estimate of ($0.33) by $0.88. The company had revenue of $523.87 million for the quarter, compared to analyst estimates of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The firm’s revenue was down 11.2% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. As a group, equities analysts forecast that Sunrun Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $14.60, for a total transaction of $730,000.00. Following the transaction, the director now directly owns 1,142,446 shares of the company’s stock, valued at approximately $16,679,711.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Friday, October 18th. The shares were sold at an average price of $14.60, for a total transaction of $730,000.00. Following the sale, the director now owns 1,142,446 shares of the company’s stock, valued at $16,679,711.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Paul S. Dickson sold 2,537 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $18.23, for a total transaction of $46,249.51. Following the completion of the transaction, the executive now directly owns 427,883 shares of the company’s stock, valued at approximately $7,800,307.09. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,840 shares of company stock worth $2,755,487. 3.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Natixis Advisors LLC boosted its stake in Sunrun by 29.5% during the 3rd quarter. Natixis Advisors LLC now owns 34,295 shares of the energy company’s stock valued at $619,000 after acquiring an additional 7,814 shares during the last quarter. Sycomore Asset Management acquired a new stake in shares of Sunrun in the 3rd quarter valued at about $548,000. Oppenheimer & Co. Inc. bought a new position in shares of Sunrun during the third quarter worth about $241,000. Aigen Investment Management LP acquired a new position in Sunrun in the third quarter worth about $955,000. Finally, Entropy Technologies LP grew its stake in Sunrun by 139.4% in the third quarter. Entropy Technologies LP now owns 65,436 shares of the energy company’s stock worth $1,182,000 after purchasing an additional 38,100 shares in the last quarter. 91.69% of the stock is currently 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.