Sunrun Inc. (NASDAQ:RUN) CFO Danny Abajian Sells 17,440 Shares of Stock

Sunrun Inc. (NASDAQ:RUN) CFO Danny Abajian sold 17,440 shares of Sunrun stock in a transaction on Monday, April 8th. The shares were sold at an average price of $12.07, for a total value of $210,500.80. Following the sale, the chief financial officer now directly owns 163,734 shares in the company, valued at approximately $1,976,269.38. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Danny Abajian also recently made the following trade(s):

• On Monday, March 18th, Danny Abajian sold 402 shares of Sunrun stock. The shares were sold at an average price of $10.03, for a total transaction of $4,032.06.
• On Wednesday, March 6th, Danny Abajian sold 12,030 shares of Sunrun stock. The shares were sold at an average price of $12.12, for a total value of $145,803.60.
• On Thursday, February 29th, Danny Abajian sold 5,534 shares of Sunrun stock. The shares were sold at an average price of $12.12, for a total transaction of $67,072.08.

Sunrun Trading Down 5.6 %

Shares of RUN stock opened at $12.29 on Thursday. The firm has a 50-day moving average price of $12.93 and a 200 day moving average price of $13.24. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $2.70 billion, a P/E ratio of -1.66 and a beta of 2.46. Sunrun Inc. has a 12-month low of $8.43 and a 12-month high of $23.85.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($1.20). Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. The company had revenue of $516.59 million during the quarter, compared to analyst estimates of $499.74 million. Research analysts forecast that Sunrun Inc. will post -1.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently made changes to their positions in RUN. International Assets Investment Management LLC bought a new position in shares of Sunrun during the third quarter worth about $26,000. C M Bidwell & Associates Ltd. raised its holdings in shares of Sunrun by 1,483.9% in the third quarter. C M Bidwell & Associates Ltd. now owns 2,360 shares of the energy company’s stock valued at $30,000 after purchasing an additional 2,211 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Sunrun by 76.9% in the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock worth $35,000 after purchasing an additional 764 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Sunrun by 149.7% during the fourth quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock worth $37,000 after purchasing an additional 1,127 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in Sunrun by 69.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 3,345 shares of the energy company’s stock valued at $42,000 after buying an additional 1,375 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler cut their target price on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Susquehanna reissued a “positive” rating and set a $25.00 price objective on shares of Sunrun in a research note on Friday, April 5th. Truist Financial reissued a “hold” rating and issued a $14.00 price target (down previously from $15.00) on shares of Sunrun in a research note on Monday, February 26th. Mizuho lifted their target price on shares of Sunrun from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Finally, Janney Montgomery Scott downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.05.

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.