Sunrun (NASDAQ:RUN) Shares Down 5.5% on Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares traded down 5.5% on Tuesday after Barclays lowered their price target on the stock from $18.00 to $15.00. Barclays currently has an equal weight rating on the stock. Sunrun traded as low as $9.63 and last traded at $9.63. 2,752,288 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 10,654,386 shares. The stock had previously closed at $10.19.

Several other brokerages have also recently commented on RUN. TD Cowen initiated coverage on shares of Sunrun in a report on Thursday, December 19th. They set a "buy" rating and a $21.00 target price on the stock. Oppenheimer lowered their price objective on Sunrun from $22.00 to $20.00 and set an "outperform" rating on the stock in a research note on Friday, November 8th. Morgan Stanley cut their target price on Sunrun from $35.00 to $27.00 and set an "overweight" rating for the company in a research report on Friday, November 15th. Wells Fargo & Company reduced their target price on Sunrun from $15.00 to $12.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Finally, StockNews.com raised Sunrun to a "sell" rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Sunrun has a consensus rating of "Moderate Buy" and a consensus target price of $18.36.

Insider Activity

In other Sunrun news, CFO Danny Abajian sold 3,734 shares of the company's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $41,746.12. Following the sale, the chief financial officer now owns 257,969 shares in the company, valued at approximately $2,884,093.42. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $9.59, for a total value of $479,500.00. Following the transaction, the director now owns 991,753 shares of the company's stock, valued at $9,510,911.27. This trade represents a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,830 shares of company stock valued at $1,614,147. 3.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

Several large investors have recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of Sunrun by 0.6% in the 3rd quarter. State Street Corp now owns 9,159,711 shares of the energy company's stock valued at $165,424,000 after buying an additional 54,329 shares during the period. Geode Capital Management LLC grew its stake in Sunrun by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company's stock valued at $96,019,000 after acquiring an additional 30,549 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Sunrun during the third quarter valued at approximately $76,152,000. FMR LLC raised its position in shares of Sunrun by 83.6% during the third quarter. FMR LLC now owns 3,430,327 shares of the energy company's stock worth $61,952,000 after purchasing an additional 1,562,163 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Sunrun by 0.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 3,123,059 shares of the energy company's stock worth $56,402,000 after purchasing an additional 18,000 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Sunrun Price Performance

The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -4.97 and a beta of 2.58. 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 business's fifty day moving average price is $10.19 and its 200-day moving average price is $14.39.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The energy company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.21). Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. The company had revenue of $537.17 million for the quarter, compared to the consensus estimate of $560.60 million. During the same quarter last year, the business posted $0.40 earnings per share. On average, research analysts forecast that Sunrun Inc. will post -0.43 EPS for the current year.

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.