Sunrun (NASDAQ:RUN) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of Sunrun (NASDAQ:RUN) to a sell rating in a research note issued to investors on Friday morning.

Several other equities analysts also recently commented on the company. Oppenheimer raised their target price on Sunrun from $19.00 to $22.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. The Goldman Sachs Group restated a buy rating and set a $20.00 target price on shares of Sunrun in a research report on Wednesday, September 25th. Evercore ISI cut their target price on Sunrun from $42.00 to $38.00 and set an outperform rating for the company in a research report on Wednesday, August 7th. Piper Sandler raised their target price on Sunrun from $20.00 to $23.00 and gave the stock an overweight rating in a research report on Wednesday, August 7th. Finally, Truist Financial restated a hold rating and set a $18.00 target price (up previously from $12.00) on shares of Sunrun in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $22.33.

Sunrun Stock Performance

RUN opened at $18.06 on Friday. Sunrun has a 12-month low of $8.43 and a 12-month high of $22.26. The firm has a market capitalization of $4.00 billion, a P/E ratio of -2.71 and a beta of 2.59. The stock’s 50 day moving average price is $18.75 and its two-hundred day moving average price is $14.75. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The company had revenue of $523.87 million for the quarter, compared to analyst estimates of $516.76 million. During the same quarter last year, the firm earned $0.25 EPS. Sunrun’s revenue for the quarter was down 11.2% compared to the same quarter last year. On average, equities analysts forecast that Sunrun will post -0.16 earnings per share for the current year.

Insider Activity

In related news, CFO Danny Abajian sold 4,662 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $12.62, for a total transaction of $58,834.44. Following the sale, the chief financial officer now owns 283,098 shares in the company, valued at $3,572,696.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $20.20, for a total value of $1,010,000.00. Following the transaction, the director now owns 1,192,446 shares of the company’s stock, valued at $24,087,409.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Danny Abajian sold 4,662 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $12.62, for a total value of $58,834.44. Following the sale, the chief financial officer now directly owns 283,098 shares in the company, valued at approximately $3,572,696.76. The disclosure for this sale can be found here. Insiders have sold a total of 178,675 shares of company stock worth $3,253,289 over the last three months. Corporate insiders own 3.76% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Sunrun by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 19,581,958 shares of the energy company’s stock worth $384,394,000 after purchasing an additional 176,861 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Sunrun by 142.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,702 shares of the energy company’s stock worth $3,199,000 after buying an additional 142,563 shares in the last quarter. Symmetry Investments LP bought a new stake in shares of Sunrun in the 2nd quarter worth approximately $1,205,000. State of Alaska Department of Revenue raised its holdings in shares of Sunrun by 466.2% in the 1st quarter. State of Alaska Department of Revenue now owns 132,878 shares of the energy company’s stock worth $1,751,000 after purchasing an additional 109,411 shares during the period. Finally, Axxcess Wealth Management LLC bought a new stake in shares of Sunrun in the 1st quarter worth approximately $171,000. 91.69% of the stock is currently owned by institutional investors.

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.