Jefferies Financial Group Downgrades Sunrun (NASDAQ:RUN) to Hold

Jefferies Financial Group lowered shares of Sunrun (NASDAQ:RUN) from a buy rating to a hold rating in a research report report published on Wednesday, MarketBeat.com reports. They currently have $8.00 price objective on the energy company’s stock, down from their previous price objective of $14.00.

RUN has been the topic of several other reports. Piper Sandler cut shares of Sunrun from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $11.00 in a research note on Friday, November 22nd. Morgan Stanley decreased their price objective on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. StockNews.com raised shares of Sunrun to a “sell” rating in a research note on Friday, December 20th. Truist Financial reaffirmed a “hold” rating and set a $9.00 price objective (down from $12.00) on shares of Sunrun in a research note on Monday, March 3rd. Finally, Royal Bank of Canada decreased their price target on shares of Sunrun from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

Sunrun Price Performance

Shares of Sunrun stock opened at $6.57 on Wednesday. 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 stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -3.61 and a beta of 2.84. Sunrun has a 1-year low of $5.93 and a 1-year high of $22.26. The firm’s 50-day moving average price is $8.80 and its two-hundred day moving average price is $12.35.

Insider Activity at Sunrun

In other Sunrun news, CEO Mary Powell sold 4,350 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $48,633.00. Following the sale, the chief executive officer now directly owns 560,321 shares in the company, valued at approximately $6,264,388.78. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Danny Abajian sold 3,734 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $41,746.12. Following the completion of the sale, the chief financial officer now owns 257,969 shares in the company, valued at approximately $2,884,093.42. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 171,466 shares of company stock worth $1,607,397 over the last ninety days. Company insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Sunrun during the fourth quarter worth $18,500,000. Principal Financial Group Inc. raised its holdings 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 worth $26,385,000 after acquiring an additional 367,835 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of Sunrun during the third quarter worth $76,152,000. Essex Investment Management Co. LLC acquired a new stake in shares of Sunrun during the fourth quarter worth $403,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings 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 worth $45,426,000 after acquiring an additional 1,337,302 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.