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

Sunrun Inc. (NASDAQ:RUN) 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.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RUN. UBS Group dropped their price objective on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. 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 note on Friday, February 28th. Susquehanna decreased their price objective on Sunrun from $13.00 to $10.00 and set a “positive” rating on the stock in a report on Monday, April 14th. Truist Financial reissued a “hold” rating and set a $6.00 target price (down previously from $9.00) on shares of Sunrun in a research note on Wednesday. Finally, Citigroup restated a “neutral” rating and issued a $7.00 target price on shares of Sunrun in a research report on Thursday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.01.

Sunrun Trading Up 4.9 %

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 company has a market cap of $1.55 billion, a PE ratio of -3.76 and a beta of 2.74. The company has a fifty day simple moving average of $7.00 and a two-hundred day simple moving average of $9.90.

Insider Buying and Selling

In other Sunrun news, CFO Danny Abajian sold 16,927 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 231,279 shares in the company, valued at $1,558,820.46. This trade represents a 6.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward Harris Fenster acquired 150,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $6.80 per share, with a total value of $1,020,000.00. Following the completion of the transaction, the director now owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. This represents a 12.42 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 138,540 shares of company stock worth $1,050,944. Company insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RUN. MML Investors Services LLC grew its stake in Sunrun by 9.3% during the 3rd quarter. MML Investors Services LLC now owns 43,313 shares of the energy company’s stock worth $782,000 after buying an additional 3,689 shares during the last quarter. Geode Capital Management LLC boosted its stake in Sunrun by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock worth $96,019,000 after purchasing an additional 30,549 shares during the period. Virtu Financial LLC purchased a new position in Sunrun during the 3rd quarter worth $482,000. Wilmington Savings Fund Society FSB acquired a new position in Sunrun in the third quarter valued at $44,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Sunrun in the third quarter valued at about $896,000. 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.