Sunrun (NASDAQ:RUN) Stock Price Down 6.7% - Should You Sell?

Shares of Sunrun Inc. (NASDAQ:RUN - Get Free Report) dropped 6.7% during trading on Thursday . The company traded as low as $6.20 and last traded at $6.13. Approximately 3,081,665 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 10,776,566 shares. The stock had previously closed at $6.57.

Analysts Set New Price Targets

Several brokerages recently issued reports on RUN. Truist Financial reaffirmed a "hold" rating and set a $9.00 price target (down from $12.00) on shares of Sunrun in a report on Monday, March 3rd. BMO Capital Markets reduced their price objective on Sunrun from $11.00 to $9.00 and set a "market perform" rating on the stock in a research report on Monday, March 3rd. JPMorgan Chase & Co. dropped their target price on Sunrun from $22.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. Royal Bank of Canada lowered their price objective on Sunrun from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Finally, Piper Sandler downgraded shares of Sunrun from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $23.00 to $11.00 in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $17.20.

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Sunrun Price Performance

The stock has a market capitalization of $1.51 billion, a P/E ratio of -3.67 and a beta of 2.84. 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 business has a fifty day simple moving average of $8.64 and a 200-day simple moving average of $12.09.

Insider Buying and Selling

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the business'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 completion of the sale, the director now owns 1,041,753 shares in the company, valued at $9,813,313.26. The trade was a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edward Harris Fenster bought 150,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the acquisition, the director now owns 1,358,182 shares in the company, valued at $9,235,637.60. This represents a 12.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 171,466 shares of company stock valued at $1,607,397 over the last ninety days. 3.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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