Sunrun (NASDAQ:RUN) Trading Down 9.4% After Insider Selling

Sunrun Inc. (NASDAQ:RUN)’s stock price fell 9.4% during trading on Wednesday following insider selling activity. The company traded as low as $11.73 and last traded at $11.80. 2,589,210 shares were traded during mid-day trading, a decline of 82% from the average session volume of 14,423,826 shares. The stock had previously closed at $13.02.

Specifically, insider Jeanna Steele sold 8,187 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $12.11, for a total transaction of $99,144.57. Following the sale, the insider now owns 239,724 shares of the company’s stock, valued at approximately $2,903,057.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Sunrun news, CEO Mary Powell sold 5,424 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $12.12, for a total transaction of $65,738.88. Following the sale, the chief executive officer now owns 411,628 shares of the company’s stock, valued at approximately $4,988,931.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeanna Steele sold 8,187 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $12.11, for a total transaction of $99,144.57. Following the completion of the sale, the insider now directly owns 239,724 shares in the company, valued at $2,903,057.64. The disclosure for this sale can be found here. Insiders sold a total of 128,840 shares of company stock worth $1,549,596 in the last 90 days. 3.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. KeyCorp reissued a “sector weight” rating on shares of Sunrun in a report on Thursday, January 4th. Truist Financial restated a “hold” rating and set a $14.00 price objective (down from $15.00) on shares of Sunrun in a research report on Monday, February 26th. BMO Capital Markets upped their price objective on shares of Sunrun from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Thursday, February 22nd. Royal Bank of Canada reduced their price objective on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. Finally, Piper Sandler reduced their price objective on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.05.

Sunrun Stock Down 3.6 %

The company’s 50 day moving average price is $12.86 and its 200 day moving average price is $13.23. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 1.68.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. The firm had revenue of $516.59 million during the quarter, compared to analysts’ expectations of $499.74 million. Equities research analysts anticipate that Sunrun Inc. will post -1.69 earnings per share for the current year.

Institutional Trading of Sunrun

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. raised its holdings in Sunrun by 3,750.0% during the first quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock worth $47,000 after purchasing an additional 1,500 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Sunrun by 76.9% in the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after acquiring an additional 764 shares during the period. Versant Capital Management Inc increased its holdings in shares of Sunrun by 149.7% in the 4th quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock valued at $37,000 after acquiring an additional 1,127 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Sunrun in the 3rd quarter valued at $26,000. Finally, Belpointe Asset Management LLC increased its holdings in shares of Sunrun by 735.2% in the 1st quarter. Belpointe Asset Management LLC now owns 2,113 shares of the energy company’s stock valued at $43,000 after acquiring an additional 1,860 shares during the period. Institutional investors and hedge funds 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.