Sunrun (NASDAQ:RUN) Hits New 1-Year Low - What's Next?

Sunrun Inc. (NASDAQ:RUN - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $5.91 and last traded at $5.93, with a volume of 6171934 shares trading hands. The stock had previously closed at $6.21.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RUN. StockNews.com upgraded Sunrun to a "sell" rating in a report on Friday, December 20th. BMO Capital Markets reduced their price objective on shares of Sunrun from $11.00 to $9.00 and set a "market perform" rating for the company in a research note on Monday, March 3rd. Jefferies Financial Group downgraded shares of Sunrun from a "buy" rating to a "hold" rating and dropped their target price for the stock from $14.00 to $8.00 in a research note on Wednesday, March 12th. Wells Fargo & Company reduced their price target on shares of Sunrun from $15.00 to $12.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of Sunrun from $17.00 to $15.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.20.

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Sunrun Stock Performance

The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The company has a market cap of $1.33 billion, a P/E ratio of -3.22 and a beta of 2.84. The business's 50 day simple moving average is $7.89 and its 200 day simple moving average is $11.20.

Insider Activity

In related news, CRO Paul S. Dickson sold 2,968 shares of Sunrun stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $33,182.24. Following the sale, the executive now owns 418,492 shares of the company's stock, valued at approximately $4,678,740.56. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mary Powell sold 4,350 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $48,633.00. Following the completion of the transaction, the chief executive officer now owns 560,321 shares of the company's stock, valued at $6,264,388.78. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,466 shares of company stock worth $1,136,397 in the last three months. Company insiders own 3.77% of the company's stock.

Institutional Trading of Sunrun

Several hedge funds have recently bought and sold shares of the stock. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Sunrun in the fourth quarter worth about $18,500,000. Charles Schwab Investment Management Inc. grew its holdings in Sunrun by 7.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company's stock valued at $21,511,000 after buying an additional 155,311 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Sunrun during the 3rd quarter worth approximately $76,152,000. Essex Investment Management Co. LLC purchased a new stake in shares of Sunrun during the 4th quarter worth approximately $403,000. Finally, Principal Financial Group Inc. boosted its position in shares of Sunrun by 33.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company's stock valued at $26,385,000 after acquiring an additional 367,835 shares during the last quarter. Hedge funds and other institutional investors 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.