Sunrun (NASDAQ:RUN) Stock Price Down 9.7% Following Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN - Get Free Report)'s stock price dropped 9.7% during mid-day trading on Friday after Wells Fargo & Company lowered their price target on the stock from $20.00 to $15.00. Wells Fargo & Company currently has an overweight rating on the stock. Sunrun traded as low as $10.47 and last traded at $10.48. Approximately 3,964,772 shares changed hands during trading, a decline of 67% from the average daily volume of 11,875,731 shares. The stock had previously closed at $11.60.

Several other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Sunrun from $12.00 to $16.50 and gave the stock a "hold" rating in a research report on Thursday, August 8th. Susquehanna cut their price objective on Sunrun from $24.00 to $23.00 and set a "positive" rating on the stock in a research note on Wednesday, October 16th. Oppenheimer decreased their target price on Sunrun from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday. Jefferies Financial Group dropped their price target on shares of Sunrun from $31.00 to $29.00 and set a "buy" rating on the stock in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Sunrun from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $21.33.

Insiders Place Their Bets

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the company's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $14.60, for a total transaction of $730,000.00. Following the transaction, the director now owns 1,142,446 shares of the company's stock, valued at $16,679,711.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Danny Abajian sold 9,694 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total value of $191,456.50. Following the transaction, the chief financial officer now owns 278,260 shares of the company's stock, valued at $5,495,635. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Friday, October 18th. The stock was sold at an average price of $14.60, for a total value of $730,000.00. Following the sale, the director now directly owns 1,142,446 shares of the company's stock, valued at approximately $16,679,711.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 155,840 shares of company stock valued at $2,755,487. Insiders own 3.77% of the company's stock.

Hedge Funds Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently made changes to their positions in RUN. Mirae Asset Global Investments Co. Ltd. increased its stake in Sunrun by 142.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,702 shares of the energy company's stock worth $3,199,000 after purchasing an additional 142,563 shares in the last quarter. Symmetry Investments LP bought a new stake in shares of Sunrun during the second quarter worth $1,205,000. Axxcess Wealth Management LLC bought a new stake in shares of Sunrun during the first quarter worth $171,000. Assenagon Asset Management S.A. raised its holdings in shares of Sunrun by 207.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company's stock worth $24,843,000 after acquiring an additional 927,947 shares during the period. Finally, Friedenthal Financial bought a new stake in Sunrun in the 2nd quarter valued at $702,000. 91.69% of the stock is owned by institutional investors.

Sunrun Stock Performance

The stock's 50 day moving average is $16.60 and its two-hundred day moving average is $15.43. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -5.62 and a beta of 2.61. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.88. The company had revenue of $523.87 million during the quarter, compared to analysts' expectations of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The business's quarterly revenue was down 11.2% on a year-over-year basis. During the same period last year, the business earned $0.25 EPS. Analysts expect that Sunrun Inc. will post -0.17 earnings per share for the current fiscal year.

Sunrun Company Profile

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.