Sunrun (NASDAQ:RUN) Shares Gap Down – Here’s What Happened

Sunrun Inc. (NASDAQ:RUN)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $6.53, but opened at $6.33. Sunrun shares last traded at $6.43, with a volume of 709,999 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RUN shares. TD Cowen lowered their price objective on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, February 28th. StockNews.com raised shares of Sunrun to a “sell” rating in a research note on Friday, December 20th. BMO Capital Markets cut their price target on Sunrun from $11.00 to $9.00 and set a “market perform” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company dropped their price objective on Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial restated a “hold” rating and issued a $6.00 price target (down from $9.00) on shares of Sunrun in a report on Wednesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Sunrun currently has an average rating of “Hold” and a consensus price target of $16.01.

Sunrun Stock Performance

The firm’s fifty day simple moving average is $7.00 and its 200 day simple moving average is $9.90. The company has a market capitalization of $1.55 billion, a PE ratio of -3.76 and a beta of 2.74. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Insider Buying and Selling

In related news, CRO Paul S. Dickson sold 19,343 shares of Sunrun stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $130,371.82. Following the completion of the transaction, the executive now owns 399,729 shares in the company, valued at $2,694,173.46. The trade was a 4.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Danny Abajian sold 16,927 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $114,087.98. Following the transaction, the chief financial officer now owns 231,279 shares in the company, valued at $1,558,820.46. This represents a 6.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,540 shares of company stock valued at $1,050,944 over the last ninety days. Company insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new position in Sunrun during the fourth quarter worth $29,000. Newbridge Financial Services Group Inc. increased its position in shares of Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after purchasing an additional 2,000 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Sunrun in the 3rd quarter valued at $44,000. Summit Securities Group LLC acquired a new stake in Sunrun during the 4th quarter worth $53,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Sunrun in the fourth quarter valued at about $56,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.