Sunrun (NASDAQ:RUN) Shares Down 5.5% After Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN)’s stock price traded down 5.5% during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $18.00 to $15.00. Barclays currently has an equal weight rating on the stock. Sunrun traded as low as $9.63 and last traded at $9.63. 2,752,288 shares traded hands during trading, a decline of 74% from the average session volume of 10,654,386 shares. The stock had previously closed at $10.19.

A number of other analysts also recently issued reports on RUN. BMO Capital Markets cut their price objective on Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday, November 11th. Roth Mkm lowered their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 8th. TD Cowen began coverage on Sunrun in a report on Thursday, December 19th. They set a “buy” rating and a $21.00 target price for the company. Oppenheimer lowered their target price on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, StockNews.com upgraded Sunrun to a “sell” rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.36.

Insider Buying and Selling

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $9.59, for a total transaction of $479,500.00. Following the transaction, the director now owns 991,753 shares of the company’s stock, valued at $9,510,911.27. The trade was a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 value of $48,633.00. Following the transaction, the chief executive officer now directly 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. Insiders sold a total of 164,830 shares of company stock worth $1,614,147 over the last 90 days. 3.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Erste Asset Management GmbH acquired a new stake in shares of Sunrun in the 3rd quarter worth approximately $76,152,000. FMR LLC grew its holdings in Sunrun by 83.6% in the third quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock valued at $61,952,000 after purchasing an additional 1,562,163 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in 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 purchasing an additional 1,337,302 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of 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 in the last quarter. Finally, Sora Investors LLC acquired a new position in shares of Sunrun during the 3rd quarter worth $8,127,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Stock Up 1.4 %

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 firm’s 50-day moving average is $10.20 and its 200 day moving average is $14.42. The firm has a market capitalization of $2.11 billion, a PE ratio of -5.16 and a beta of 2.58.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Thursday, November 7th. The energy company reported ($0.37) 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 business had revenue of $537.17 million during the quarter, compared to analyst estimates of $560.60 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. As a group, research analysts forecast that Sunrun Inc. will post -0.41 earnings per share for the current fiscal year.

About Sunrun

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.