Sunrun (NASDAQ:RUN) Shares Gap Down - Time to Sell?

Sunrun Inc. (NASDAQ:RUN - Get Free Report) 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 trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Sunrun from $22.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Piper Sandler lowered shares of Sunrun from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $23.00 to $11.00 in a report on Friday, November 22nd. TD Cowen cut their price objective on shares of Sunrun from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, February 28th. BNP Paribas upgraded shares of Sunrun from a "neutral" rating to an "outperform" rating and set a $16.00 price objective on the stock in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group cut their price objective on shares of Sunrun from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $17.20.

Sunrun Price Performance

The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The company's 50-day simple moving average is $8.56 and its 200-day simple moving average is $11.99. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -3.58 and a beta of 2.84.

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Insider Buying and Selling at Sunrun

In other news, CRO Paul S. Dickson sold 2,968 shares of the firm'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 $33,182.24. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm'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 transaction of $471,000.00. Following the sale, the director now directly owns 1,041,753 shares of the company's stock, valued at $9,813,313.26. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 171,466 shares of company stock valued at $1,607,397 over the last 90 days. 3.77% of the stock is owned by corporate insiders.

Institutional Trading of Sunrun

A number of hedge funds have recently made changes to their positions in RUN. Alyeska Investment Group L.P. grew its position in shares of Sunrun by 593.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock worth $111,263,000 after buying an additional 10,294,947 shares in the last quarter. Greenvale Capital LLP grew its position in shares of Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after buying an additional 4,516,793 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Sunrun during the third quarter worth approximately $76,152,000. Sylebra Capital LLC lifted its stake in Sunrun by 124.0% during the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock worth $61,819,000 after purchasing an additional 3,699,405 shares during the last quarter. Finally, Norges Bank bought a new position in Sunrun during the fourth quarter worth $31,022,000. 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.