Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares fell 6.8% on Monday . The company traded as low as $6.33 and last traded at $6.39. 1,654,781 shares were traded during mid-day trading, a decline of 86% from the average session volume of 11,509,096 shares. The stock had previously closed at $6.85.
Analysts Set New Price Targets
A number of equities analysts recently commented on RUN shares. TD Cowen cut their price objective on Sunrun from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group decreased their price objective on Sunrun from $17.00 to $15.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Barclays decreased their target price on shares of Sunrun from $18.00 to $15.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Citigroup reissued a "neutral" rating and set a $7.00 price objective on shares of Sunrun in a report on Thursday, April 17th. Finally, BNP Paribas raised Sunrun from a "neutral" rating to an "outperform" rating and set a $16.00 price target for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Sunrun presently has a consensus rating of "Hold" and an average price target of $14.92.
Read Our Latest Report on Sunrun
Sunrun Price Performance
The firm has a market capitalization of $1.57 billion, a PE ratio of -3.82 and a beta of 2.74. The firm's fifty day simple moving average is $6.90 and its 200-day simple moving average is $9.69. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.
Insiders Place Their Bets
In other news, Director Edward Harris Fenster purchased 150,000 shares of the 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 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Danny Abajian sold 16,927 shares of Sunrun stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $114,087.98. Following the sale, the chief financial officer now directly owns 231,279 shares of the company's stock, valued at approximately $1,558,820.46. This trade represents a 6.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 138,540 shares of company stock valued at $1,050,944 in the last quarter. 3.77% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Sunrun
A number of institutional investors have recently added to or reduced their stakes in RUN. Alyeska Investment Group L.P. boosted its position in 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 acquiring an additional 10,294,947 shares during the last quarter. Greenvale Capital LLP increased 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 acquiring an additional 4,516,793 shares during the period. Sylebra Capital LLC increased its position in shares of Sunrun by 124.0% in the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock valued at $61,819,000 after purchasing an additional 3,699,405 shares during the last quarter. Norges Bank purchased a new stake in Sunrun during the 4th quarter worth about $31,022,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in Sunrun during the fourth quarter worth approximately $18,500,000. Institutional investors and hedge funds own 91.69% of the company's stock.
About Sunrun
(
Get Free Report)
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.
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