Sunrun (NASDAQ:RUN) Stock Price Down 4.8% Following Insider Selling

Shares of Sunrun Inc. (NASDAQ:RUN) were down 4.8% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $10.14 and last traded at $10.18. Approximately 1,297,568 shares changed hands during trading, a decline of 91% from the average daily volume of 14,290,282 shares. The stock had previously closed at $10.69.

Specifically, CEO Mary Powell sold 5,424 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $12.12, for a total transaction of $65,738.88. Following the transaction, the chief executive officer now owns 411,628 shares of the company’s stock, valued at approximately $4,988,931.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Sunrun news, Director Edward Harris Fenster sold 172,920 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total value of $2,066,394.00. Following the sale, the director now owns 1,261,317 shares of the company’s stock, valued at approximately $15,072,738.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mary Powell sold 5,424 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $12.12, for a total value of $65,738.88. Following the completion of the sale, the chief executive officer now directly owns 411,628 shares in the company, valued at approximately $4,988,931.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 301,760 shares of company stock valued at $3,615,990. Insiders own 3.76% of the company’s stock.

Wall Street Analysts Forecast Growth

RUN has been the subject of several analyst reports. BMO Capital Markets raised their target price on Sunrun from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Thursday, February 22nd. Susquehanna restated a “positive” rating and set a $25.00 target price on shares of Sunrun in a research report on Friday, April 5th. Oppenheimer restated an “outperform” rating and set a $19.00 target price on shares of Sunrun in a research report on Thursday, February 22nd. Truist Financial restated a “hold” rating and set a $14.00 target price (down previously from $15.00) on shares of Sunrun in a research report on Monday, February 26th. Finally, Mizuho lifted their price objective on Sunrun from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Sunrun presently has an average rating of “Moderate Buy” and a consensus target price of $21.53.

Sunrun Stock Performance

The business has a fifty day moving average price of $12.75 and a 200 day moving average price of $13.22. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 1.68.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.20). Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. The company had revenue of $516.59 million for the quarter, compared to the consensus estimate of $499.74 million. Analysts predict that Sunrun Inc. will post -1.69 earnings per share for the current fiscal year.

Institutional Trading of Sunrun

Institutional investors and hedge funds have recently bought and sold shares of the business. Diversified Trust Co bought a new stake in Sunrun in the fourth quarter valued at approximately $221,000. Zweig DiMenna Associates LLC grew its position in shares of Sunrun by 64.8% in the third quarter. Zweig DiMenna Associates LLC now owns 206,913 shares of the energy company’s stock valued at $2,599,000 after purchasing an additional 81,363 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Sunrun by 0.7% in the third quarter. Vanguard Group Inc. now owns 19,405,097 shares of the energy company’s stock valued at $243,728,000 after purchasing an additional 126,321 shares during the last quarter. Deutsche Bank AG grew its position in shares of Sunrun by 112.9% in the third quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock valued at $27,969,000 after purchasing an additional 1,180,823 shares during the last quarter. Finally, Jump Financial LLC grew its position in shares of Sunrun by 87.8% in the third quarter. Jump Financial LLC now owns 97,123 shares of the energy company’s stock valued at $1,220,000 after purchasing an additional 45,412 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

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.