Sunrun (NASDAQ:RUN) Sets New 52-Week Low – What’s Next?

Sunrun Inc. (NASDAQ:RUN) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $8.19 and last traded at $8.2610, with a volume of 6980415 shares trading hands. The stock had previously closed at $8.40.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Mizuho set a $18.00 price target on Sunrun in a research note on Thursday, August 6th. Glj Research reissued a “sell” rating and set a $4.63 price objective on shares of Sunrun in a research report on Monday, August 17th. TD Cowen decreased their price objective on shares of Sunrun from $21.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 6th. The Goldman Sachs Group dropped their target price on shares of Sunrun from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, September 8th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $16.81.

Sunrun Price Performance

The firm has a market cap of $1.99 billion, a PE ratio of 5.59 and a beta of 2.37. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. The firm has a 50-day simple moving average of $10.00 and a 200 day simple moving average of $12.13.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. The firm had revenue of $869.99 million for the quarter, compared to the consensus estimate of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The company’s revenue was up 52.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 EPS. As a group, equities analysts expect that Sunrun Inc. will post 1.18 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Maria Barak sold 3,278 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $12.17, for a total value of $39,893.26. Following the sale, the chief accounting officer directly owned 90,033 shares of the company’s stock, valued at $1,095,701.61. The trade was a 3.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mary Powell sold 23,985 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $316,362.15. Following the completion of the sale, the chief executive officer owned 1,111,535 shares in the company, valued at $14,661,146.65. The trade was a 2.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 171,015 shares of company stock valued at $2,111,653. Insiders own 3.55% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Institutional investors have recently modified their holdings of the stock. Hantz Financial Services Inc. lifted its position in Sunrun by 59.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock valued at $28,000 after acquiring an additional 564 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Sunrun by 3.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,481 shares of the energy company’s stock valued at $322,000 after acquiring an additional 565 shares in the last quarter. Swiss Life Asset Management Ltd grew its holdings in Sunrun by 7.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 10,890 shares of the energy company’s stock worth $200,000 after purchasing an additional 746 shares during the last quarter. Cloverfields Capital Group LP grew its holdings in Sunrun by 1.7% in the fourth quarter. Cloverfields Capital Group LP now owns 55,320 shares of the energy company’s stock worth $1,018,000 after purchasing an additional 940 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Sunrun by 50.0% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 3,000 shares of the energy company’s stock worth $55,000 after purchasing an additional 1,000 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

About Sunrun

Sunrun Inc is a provider of residential solar energy and battery-storage solutions. The company designs, sells, installs, owns and maintains solar energy systems for homeowners, helping customers generate electricity on-site and reduce reliance on conventional utility power.

Sunrun offers solar systems through customer purchase arrangements as well as subscription-based plans, including leases and power purchase agreements. Under these arrangements, Sunrun may retain ownership of the system and provide ongoing monitoring, maintenance and customer support.