Sunrun (NASDAQ:RUN) Shares Gap Down – What’s Next?

Shares of Sunrun Inc. (NASDAQ:RUN) gapped down prior to trading on Wednesday . The stock had previously closed at $6.93, but opened at $6.68. Sunrun shares last traded at $6.53, with a volume of 2,201,269 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on RUN shares. TD Cowen reduced their price objective on shares of 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 dropped their price objective on Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Wells Fargo & Company decreased their target price on Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered their target price on Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, Morgan Stanley cut their price target on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.20.

Sunrun Stock Down 4.9 %

The firm has a fifty day moving average of $8.86 and a 200-day moving average of $12.39. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The firm has a market cap of $1.49 billion, a P/E ratio of -3.61 and a beta of 2.84.

Insider Transactions at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 2,968 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 transaction of $33,182.24. Following the transaction, the executive now owns 418,492 shares of the company’s stock, valued at $4,678,740.56. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mary Powell sold 4,350 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $48,633.00. Following the sale, the chief executive officer now directly owns 560,321 shares of the company’s stock, valued at $6,264,388.78. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 171,466 shares of company stock worth $1,607,397 in the last 90 days. Corporate insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently made changes to their positions in RUN. Clal Insurance Enterprises Holdings Ltd acquired a new position in Sunrun in the 4th quarter valued at $18,500,000. Principal Financial Group Inc. boosted its position in shares of Sunrun by 33.7% in the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock valued at $26,385,000 after acquiring an additional 367,835 shares during the period. Erste Asset Management GmbH acquired a new position in shares of Sunrun in the third quarter valued at about $76,152,000. Essex Investment Management Co. LLC bought a new position in Sunrun during the fourth quarter worth about $403,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Sunrun by 113.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock worth $45,426,000 after purchasing an additional 1,337,302 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.