Sunrun (NASDAQ:RUN) Stock Price Down 5% After Insider Selling

Sunrun Inc. (NASDAQ:RUN) shares traded down 5% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $19.28 and last traded at $19.2240. Approximately 1,467,182 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 14,326,488 shares. The stock had previously closed at $20.24.

Specifically, Director Edward Harris Fenster sold 32,787 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $20.00, for a total value of $655,740.00. Following the transaction, the director owned 1,492,139 shares of the company’s stock, valued at approximately $29,842,780. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

RUN has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on shares of Sunrun from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Sunrun from $11.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, October 1st. Oppenheimer increased their target price on shares of Sunrun from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. The Goldman Sachs Group lifted their price target on shares of Sunrun from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Susquehanna upped their price objective on Sunrun from $13.00 to $23.00 and gave the company a “positive” rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.58.

Sunrun Stock Up 3.5%

The stock has a market capitalization of $4.66 billion, a P/E ratio of -1.80 and a beta of 2.35. The company has a debt-to-equity ratio of 3.67, a current ratio of 1.46 and a quick ratio of 1.06. The stock has a fifty day moving average price of $19.03 and a 200 day moving average price of $15.20.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Sunrun had a positive return on equity of 19.34% and a negative net margin of 106.50%.The business had revenue of $724.56 million for the quarter, compared to analysts’ expectations of $601.15 million. During the same quarter in the prior year, the firm posted ($0.37) EPS. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. On average, research analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current year.

Hedge Funds Weigh In On Sunrun

Several hedge funds have recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in Sunrun by 14.9% in the 1st quarter. American Century Companies Inc. now owns 182,961 shares of the energy company’s stock worth $1,072,000 after purchasing an additional 23,772 shares in the last quarter. Northern Trust Corp raised its position in shares of Sunrun by 17.5% in the first quarter. Northern Trust Corp now owns 2,764,452 shares of the energy company’s stock worth $16,200,000 after buying an additional 410,800 shares in the last quarter. AlphaQuest LLC boosted its stake in Sunrun by 401.6% during the first quarter. AlphaQuest LLC now owns 60,252 shares of the energy company’s stock valued at $353,000 after buying an additional 48,239 shares during the period. Harvest Portfolios Group Inc. grew its position in Sunrun by 52.5% during the first quarter. Harvest Portfolios Group Inc. now owns 31,143 shares of the energy company’s stock worth $182,000 after buying an additional 10,728 shares in the last quarter. Finally, FORA Capital LLC bought a new position in Sunrun in the 1st quarter worth about $839,000. Hedge funds and other institutional investors 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.