SAN FRANCISCO—Lynn Michelle Jurich, a director at Sunrun Inc . (NASDAQ:RUN), a $2.06 billion market cap solar company whose shares have declined over 44% in the past six months, recently sold 50,000 shares of the company’s common stock. The transaction, executed on January 17, was carried out under a pre-established Rule 10b5-1 trading plan. The shares were sold at a weighted average price of $9.5868, with the sales price ranging between $9.485 and $9.70 per share, near the stock’s 52-week low of $9.01. The total value of the transaction amounted to $479,340.
Following this sale, Jurich holds 991,753 shares directly, which include 8,707 restricted stock units that remain subject to forfeiture until they vest. Additionally, Jurich indirectly owns 1,600,000 shares through Jurich Murray Holdings LLC.
The sale was disclosed in a Form 4 filing with the Securities and Exchange Commission, dated January 21.
In other recent news, Sunrun, a key player in the residential solar market, has been the target of several analyst adjustments. UBS analyst Jon Windham upgraded Sunrun’s stock from Neutral to Buy, citing the company’s significant growth in market share within California and the increasing deployment of battery storage in new projects. However, Clear Street cut Sunrun’s stock price target to $23 from $25, reflecting a cautious but still optimistic view of the company’s prospects amid external uncertainties. TD Cowen initiated coverage on Sunrun with a Buy rating, expressing confidence in Sunrun’s cash generation goals. Conversely, Piper Sandler revised its stance on Sunrun, downgrading its rating to Neutral from Overweight due to concerns about the company’s cash generation capabilities.
Sunrun’s market share in California has nearly doubled over the past year, reaching 22% due to the company’s success in attaching battery storage to approximately 60% of its new projects. The company’s third-quarter results showed robust performance, achieving a milestone of 1 million customers and a record number of storage installations. The company’s annual recurring revenue surpassed $1.5 billion, a 22% increase from the previous year, and installed 336 megawatt hours of storage, a 92% increase over the prior year.
Sunrun has also seen changes in its board of directors, with the departure of Gerald Risk, and the appointment of John Trinta as the new Audit Committee Chair. The company projects a cash generation of $50 to $125 million in the next quarter and $350 to $600 million in 2025, and also anticipates installing 320 to 350 megawatt-hours of storage and 240 to 250 megawatts of solar capacity. These recent developments underline Sunrun’s continued focus on growth and profitability despite the current policy environment.
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