Sunrun (NASDAQ:RUN) Shares Gap Down - Here's What Happened

Shares of Sunrun Inc. (NASDAQ:RUN - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $6.53, but opened at $6.33. Sunrun shares last traded at $6.43, with a volume of 709,999 shares trading hands.

Analyst Ratings Changes

RUN has been the subject of several research analyst reports. Jefferies Financial Group downgraded Sunrun from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $14.00 to $8.00 in a report on Wednesday, March 12th. Barclays lowered their price objective on shares of Sunrun from $18.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Roth Capital set a $20.00 target price on shares of Sunrun in a research note on Friday, February 28th. BMO Capital Markets cut their price objective on Sunrun from $11.00 to $9.00 and set a "market perform" rating for the company in a report on Monday, March 3rd. Finally, Truist Financial reissued a "hold" rating and issued a $6.00 target price (down previously from $9.00) on shares of Sunrun in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $15.68.

Sunrun Trading Up 4.7 %

The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The stock has a fifty day moving average of $6.97 and a 200 day moving average of $9.73. The company has a market capitalization of $1.56 billion, a PE ratio of -3.78 and a beta of 2.74.

Insider Buying and Selling

In other Sunrun news, Director Edward Harris Fenster acquired 150,000 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now directly owns 1,358,182 shares of the company's stock, valued at $9,235,637.60. This trade represents a 12.42 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Paul S. Dickson sold 19,343 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $130,371.82. Following the completion of the sale, the executive now owns 399,729 shares in the company, valued at approximately $2,694,173.46. This trade represents a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 138,540 shares of company stock worth $1,050,944. 3.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Sunrun

Several large investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd purchased a new stake in Sunrun during the 4th quarter valued at $29,000. Newbridge Financial Services Group Inc. raised its stake in shares of Sunrun by 133.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company's stock valued at $32,000 after acquiring an additional 2,000 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Sunrun during the 3rd quarter worth about $44,000. Summit Securities Group LLC purchased a new stake in Sunrun in the 4th quarter worth about $53,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Sunrun during the fourth quarter valued at approximately $56,000. 91.69% of the stock is owned by institutional investors.

About Sunrun

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.