Sunrun (NASDAQ:RUN) Shares Down 7.2% Following Analyst Downgrade

Shares of Sunrun Inc. (NASDAQ:RUN - Get Free Report) dropped 7.2% on Monday after Royal Bank of Canada lowered their price target on the stock from $17.00 to $14.00. Royal Bank of Canada currently has an outperform rating on the stock. Sunrun traded as low as $6.71 and last traded at $6.73. Approximately 6,475,245 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 10,162,124 shares. The stock had previously closed at $7.25.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group cut their target price on Sunrun from $19.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. TD Cowen cut their target price on Sunrun from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday. Truist Financial reiterated a "hold" rating and issued a $9.00 target price (down previously from $12.00) on shares of Sunrun in a research note on Monday. Wells Fargo & Company cut their target price on Sunrun from $15.00 to $12.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Finally, Morgan Stanley cut their target price on Sunrun from $35.00 to $27.00 and set an "overweight" rating on the stock in a research note on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Sunrun has a consensus rating of "Moderate Buy" and an average target price of $17.61.

Insider Buying and Selling

In other Sunrun news, CFO Danny Abajian sold 3,734 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $41,746.12. Following the completion of the transaction, the chief financial officer now directly owns 257,969 shares of the company's stock, valued at approximately $2,884,093.42. The trade was a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.10, for a total value of $455,000.00. Following the completion of the transaction, the director now directly owns 941,753 shares of the company's stock, valued at $8,569,952.30. The trade was a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,064 shares of company stock valued at $1,551,556 over the last quarter. 3.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Sylebra Capital LLC lifted its holdings in Sunrun by 124.0% in the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock valued at $61,819,000 after acquiring an additional 3,699,405 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Sunrun by 8.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 662,211 shares of the energy company's stock worth $6,125,000 after buying an additional 52,176 shares during the period. Vident Advisory LLC raised its stake in shares of Sunrun by 76.9% during the 4th quarter. Vident Advisory LLC now owns 20,219 shares of the energy company's stock worth $187,000 after buying an additional 8,792 shares during the period. Teza Capital Management LLC raised its stake in shares of Sunrun by 12.9% during the 4th quarter. Teza Capital Management LLC now owns 44,677 shares of the energy company's stock worth $413,000 after buying an additional 5,121 shares during the period. Finally, Raiffeisen Bank International AG acquired a new position in shares of Sunrun during the 4th quarter worth approximately $2,363,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Trading Down 14.9 %

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 firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -3.39 and a beta of 2.59. The company has a 50 day moving average price of $9.20 and a two-hundred day moving average price of $12.94.

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.