Sunrun (NASDAQ:RUN) Shares Gap Down - Should You Sell?

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $6.93, but opened at $6.68. Sunrun shares last traded at $6.53, with a volume of 2,201,269 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RUN. Royal Bank of Canada cut their price objective on Sunrun from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Roth Capital set a $20.00 price objective on shares of Sunrun in a research report on Friday, February 28th. Wells Fargo & Company dropped their target price 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. Truist Financial reiterated a "hold" rating and set a $9.00 price target (down previously from $12.00) on shares of Sunrun in a research report on Monday, March 3rd. Finally, UBS Group cut their price objective on Sunrun from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $17.20.

Sunrun Stock Up 4.7 %

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's 50 day simple moving average is $8.64 and its 200-day simple moving average is $12.09. The firm has a market cap of $1.47 billion, a P/E ratio of -3.57 and a beta of 2.84.

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Insiders Place Their Bets

In other Sunrun news, Director Edward Harris Fenster acquired 150,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the purchase, the director now directly owns 1,358,182 shares of the company's stock, valued at approximately $9,235,637.60. This trade represents a 12.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mary Powell sold 4,350 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the sale, the chief executive officer now owns 560,321 shares of the company's stock, valued at $6,264,388.78. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,466 shares of company stock valued at $1,607,397. Company insiders own 3.77% of the company's stock.

Hedge Funds Weigh In On Sunrun

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new position in shares of Sunrun during the 3rd quarter valued at approximately $241,000. Natixis Advisors LLC boosted its position in shares of Sunrun by 29.5% in the third quarter. Natixis Advisors LLC now owns 34,295 shares of the energy company's stock worth $619,000 after purchasing an additional 7,814 shares during the period. Chesapeake Capital Corp IL purchased a new stake in shares of Sunrun in the third quarter worth $217,000. Quest Partners LLC raised its position in shares of Sunrun by 149.9% during the 3rd quarter. Quest Partners LLC now owns 19,290 shares of the energy company's stock valued at $348,000 after purchasing an additional 11,570 shares during the period. Finally, Drive Wealth Management LLC lifted its stake in shares of Sunrun by 4.5% during the 3rd quarter. Drive Wealth Management LLC now owns 43,327 shares of the energy company's stock valued at $782,000 after buying an additional 1,884 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.