Sunrun (NASDAQ:RUN) Shares Gap Down – Here’s What Happened

by · The Cerbat Gem

Sunrun Inc. (NASDAQ:RUN – Get Free Report) shares 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 Upgrades and Downgrades

Several equities analysts recently commented on RUN shares. Glj Research raised Sunrun from a “sell” rating to a “hold” rating in a report on Monday, October 28th. Susquehanna dropped their price objective on Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. UBS Group boosted their target price on Sunrun from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. BMO Capital Markets increased their price target on shares of Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Finally, Truist Financial restated a “hold” rating and set a $18.00 price objective (up previously from $12.00) on shares of Sunrun in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.70.

View Our Latest Analysis on RUN

Sunrun Price Performance

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

Sunrun (NASDAQ:RUN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The company had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. During the same quarter in the prior year, the firm earned $0.25 EPS. Sunrun’s quarterly revenue was down 11.2% on a year-over-year basis. Sell-side analysts expect that Sunrun Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 1,937 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $35,311.51. Following the transaction, the director now owns 1,242,446 shares in the company, valued at approximately $22,649,790.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Gerald Alan Risk sold 9,045 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $20.04, for a total value of $181,261.80. Following the completion of the transaction, the director now owns 334,761 shares in the company, valued at $6,708,610.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lynn Michelle Jurich sold 1,937 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $35,311.51. Following the sale, the director now directly owns 1,242,446 shares in the company, valued at approximately $22,649,790.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 155,840 shares of company stock worth $2,755,487 over the last 90 days. Company insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its holdings in shares of Sunrun by 1,706.3% in 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 in the last quarter. Blue Trust Inc. grew its holdings in Sunrun by 385.5% during the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after buying an additional 1,465 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new position in Sunrun during the second quarter worth $36,000. CWM LLC raised its holdings in shares of Sunrun by 883.9% in the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after acquiring an additional 3,014 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Sunrun in the second quarter valued at $45,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Company Profile

(Get Free Report)

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.

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