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

Sunrun Inc. (NASDAQ:RUN - Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $7.90 and last traded at $8.00, with a volume of 8641820 shares. The stock had previously closed at $8.10.

Analyst Upgrades and Downgrades

RUN has been the topic of a number of research analyst reports. BNP Paribas raised shares of Sunrun from a "neutral" rating to an "outperform" rating and set a $16.00 price target on the stock in a research report on Tuesday, January 7th. Oppenheimer cut their target price on Sunrun from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, November 8th. Truist Financial reaffirmed a "hold" rating and set a $12.00 target price (down previously from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. Piper Sandler lowered Sunrun from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $23.00 to $11.00 in a research note on Friday, November 22nd. Finally, Glj Research restated a "sell" rating and set a $7.78 price target on shares of Sunrun in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.36.

Sunrun Price Performance

The firm has a market cap of $1.98 billion, a P/E ratio of -4.85 and a beta of 2.59. The company has a fifty day moving average of $9.62 and a 200-day moving average of $13.70. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Insiders Place Their Bets

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $9.42, for a total value of $471,000.00. Following the completion of the transaction, the director now directly owns 1,041,753 shares of the company's stock, valued at $9,813,313.26. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Danny Abajian sold 3,734 shares of Sunrun stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $41,746.12. Following the sale, the chief financial officer now owns 257,969 shares in the company, valued at $2,884,093.42. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,830 shares of company stock valued at $1,614,147 in the last three months. 3.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunrun

Several institutional investors have recently added to or reduced their stakes in the stock. Maple Rock Capital Partners Inc. boosted its stake in Sunrun by 92.8% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 3,597,600 shares of the energy company's stock valued at $33,278,000 after acquiring an additional 1,732,000 shares during the last quarter. Soros Fund Management LLC lifted its stake in Sunrun by 1,994.7% in the fourth quarter. Soros Fund Management LLC now owns 1,675,798 shares of the energy company's stock valued at $15,501,000 after purchasing an additional 1,595,798 shares during the last quarter. PDT Partners LLC bought a new position in Sunrun during the fourth quarter valued at $644,000. Electron Capital Partners LLC increased its position in Sunrun by 30.0% in the fourth quarter. Electron Capital Partners LLC now owns 74,058 shares of the energy company's stock worth $685,000 after buying an additional 17,108 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Sunrun by 2.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 238,803 shares of the energy company's stock valued at $2,209,000 after buying an additional 5,252 shares during the period. 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.