Sunrun (NASDAQ:RUN) Stock Price Down 7.3% – Time to Sell?

Shares of Sunrun Inc. (NASDAQ:RUN) traded down 7.3% on Wednesday . The stock traded as low as $12.20 and last traded at $12.0250. 2,800,103 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 9,351,552 shares. The stock had previously closed at $12.97.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Glj Research reiterated a “sell” rating and set a $4.63 price objective on shares of Sunrun in a research report on Thursday, April 16th. Wall Street Zen cut Sunrun from a “hold” rating to a “sell” rating in a research report on Saturday. Raymond James Financial began coverage on Sunrun in a research report on Monday, January 12th. They issued a “market perform” rating for the company. The Goldman Sachs Group reduced their price target on Sunrun from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Finally, Weiss Ratings upgraded Sunrun from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Twelve research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Sunrun presently has an average rating of “Hold” and an average target price of $18.63.

Sunrun Trading Down 7.6%

The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 7.03 and a beta of 2.37. The company has a fifty day moving average price of $13.69 and a 200-day moving average price of $17.20. The company has a current ratio of 1.66, a quick ratio of 1.27 and a debt-to-equity ratio of 3.38.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Thursday, February 26th. The energy company reported $0.38 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.46. Sunrun had a return on equity of 11.72% and a net margin of 15.22%.The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $610.29 million. During the same quarter in the previous year, the business earned $1.41 EPS. Sunrun’s revenue for the quarter was up 123.5% compared to the same quarter last year. As a group, research analysts expect that Sunrun Inc. will post 0.47 EPS for the current year.

Insider Transactions at Sunrun

In related news, insider Jeanna Steele sold 76,478 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $1,013,333.50. Following the completion of the sale, the insider owned 384,538 shares in the company, valued at $5,095,128.50. This trade represents a 16.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mary Powell sold 193,002 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.25, for a total transaction of $2,557,276.50. Following the completion of the sale, the chief executive officer owned 934,282 shares of the company’s stock, valued at approximately $12,379,236.50. The trade was a 17.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 879,894 shares of company stock valued at $13,017,496 over the last 90 days. Insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

A number of hedge funds have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC lifted its position in Sunrun by 49.2% in the fourth quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company’s stock valued at $31,000 after purchasing an additional 558 shares during the period. Hantz Financial Services Inc. lifted its position in shares of Sunrun by 59.1% during the 4th 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 period. PNC Financial Services Group Inc. lifted its position in shares of Sunrun by 3.3% during the 4th 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 during the period. Sage Rhino Capital LLC lifted its position in shares of Sunrun by 5.2% during the 4th quarter. Sage Rhino Capital LLC now owns 11,468 shares of the energy company’s stock valued at $211,000 after acquiring an additional 572 shares during the period. Finally, Crestwood Advisors Group LLC lifted its position in shares of Sunrun by 1.9% during the 3rd quarter. Crestwood Advisors Group LLC now owns 35,158 shares of the energy company’s stock valued at $608,000 after acquiring an additional 644 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.