Sunrun (NASDAQ:RUN) Reaches New 52-Week Low After Insider Selling

Sunrun Inc. (NASDAQ:RUN) reached a new 52-week low during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $5.45 and last traded at $5.79, with a volume of 2386868 shares changing hands. The stock had previously closed at $5.67.

Specifically, CFO Danny Abajian sold 16,927 shares of Sunrun stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $114,087.98. Following the completion of the transaction, the chief financial officer now directly owns 231,279 shares in the company, valued at approximately $1,558,820.46. This trade represents a 6.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary Powell sold 31,197 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $210,267.78. Following the transaction, the chief executive officer now directly owns 534,615 shares of the company’s stock, valued at approximately $3,603,305.10. This trade represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. In other news, insider Jeanna Steele sold 9,942 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $67,009.08. Following the sale, the insider now directly owns 291,238 shares of the company’s stock, valued at approximately $1,962,944.12. This represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

RUN has been the topic of several recent analyst reports. Truist Financial reissued a “hold” rating and set a $9.00 price objective (down from $12.00) on shares of Sunrun in a research report on Monday, March 3rd. TD Cowen lowered their price objective on Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Roth Capital set a $20.00 target price on Sunrun in a report on Friday, February 28th. Royal Bank of Canada dropped their price objective on Sunrun from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Finally, Barclays lowered their target price 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 analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.20.

Sunrun Stock Down 6.2 %

The firm has a market capitalization of $1.36 billion, a PE ratio of -3.31 and a beta of 2.74. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The company has a 50-day moving average price of $7.23 and a 200 day moving average price of $10.32.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in Sunrun by 572.1% in the 1st quarter. GAMMA Investing LLC now owns 71,896 shares of the energy company’s stock worth $421,000 after buying an additional 61,198 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Sunrun during the fourth quarter worth approximately $94,000. Sylebra Capital LLC raised its stake in shares of Sunrun by 124.0% during the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock valued at $61,819,000 after acquiring an additional 3,699,405 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Sunrun by 8.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 662,211 shares of the energy company’s stock valued at $6,125,000 after acquiring an additional 52,176 shares in the last quarter. Finally, Vident Advisory LLC grew its stake in Sunrun by 76.9% in the fourth quarter. Vident Advisory LLC now owns 20,219 shares of the energy company’s stock worth $187,000 after purchasing an additional 8,792 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

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.