Sunrun (NASDAQ:RUN) Issues Quarterly Earnings Results

Sunrun (NASDAQ:RUN) released its quarterly earnings data on Wednesday. The energy company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09, Briefing.com reports. The business had revenue of $458.20 million for the quarter, compared to analysts’ expectations of $471.38 million. Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. Sunrun’s quarterly revenue was down 22.3% on a year-over-year basis. During the same period in the previous year, the business posted ($1.12) earnings per share.

Sunrun Stock Up 7.8 %

NASDAQ:RUN opened at $12.41 on Friday. The stock’s fifty day simple moving average is $11.36 and its 200-day simple moving average is $13.13. The firm has a market capitalization of $2.75 billion, a P/E ratio of -1.68 and a beta of 2.50. 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 has a 12-month low of $8.43 and a 12-month high of $23.85.

Insider Buying and Selling at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 4,830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $12.12, for a total transaction of $58,539.60. Following the transaction, the director now owns 1,403,915 shares in the company, valued at $17,015,449.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Mary Powell sold 5,424 shares of Sunrun 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 in the company, valued at approximately $4,988,931.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lynn Michelle Jurich sold 4,830 shares of Sunrun stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $12.12, for a total value of $58,539.60. Following the transaction, the director now owns 1,403,915 shares in the company, valued at approximately $17,015,449.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 301,760 shares of company stock valued at $3,615,990. 3.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RUN has been the topic of a number of research reports. BMO Capital Markets boosted their price objective on Sunrun from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group upped their target price on shares of Sunrun from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Piper Sandler reduced their price target on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. Janney Montgomery Scott lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th. Finally, Mizuho decreased their price target on Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.21.

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.