Sunrun (NASDAQ:RUN) Shares Gap Down – Time to Sell?

Sunrun Inc. (NASDAQ:RUN)’s share price 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RUN shares. UBS Group decreased their target price on Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research report on Friday, December 20th. TD Cowen dropped their price target on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company dropped their price target on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Piper Sandler downgraded shares of Sunrun from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $11.00 in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Sunrun presently has an average rating of “Moderate Buy” and a consensus target price of $17.20.

Sunrun Trading Down 5.5 %

The firm’s 50-day moving average is $8.80 and its 200 day moving average is $12.35. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -3.41 and a beta of 2.84.

Insider Buying and Selling

In other news, Director Edward Harris Fenster bought 150,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the transaction, the director now owns 1,358,182 shares of the company’s stock, valued at $9,235,637.60. This trade represents a 12.42 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.10, for a total transaction of $455,000.00. Following the sale, the director now directly owns 941,753 shares of the company’s stock, valued at $8,569,952.30. This represents a 5.04 % 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 ninety days. Company insiders own 3.77% of the company’s stock.

Institutional Trading of Sunrun

Several large investors have recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Sunrun during the fourth quarter worth approximately $18,500,000. Erste Asset Management GmbH purchased a new position in shares of Sunrun during the third quarter valued at approximately $76,152,000. Essex Investment Management Co. LLC purchased a new position in shares of Sunrun during the fourth quarter valued at approximately $403,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Sunrun by 113.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock valued at $45,426,000 after buying an additional 1,337,302 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Sunrun by 33.7% during 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 last quarter. Institutional investors and hedge funds 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.