Sunrun (NASDAQ:RUN) Upgraded at StockNews.com

Sunrun (NASDAQ:RUN) was upgraded by analysts at StockNews.com to a “sell” rating in a report issued on Friday.

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. lifted their target price on Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. BMO Capital Markets lifted their price objective on Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a report on Wednesday, August 7th. Susquehanna increased their target price on Sunrun from $23.00 to $24.00 and gave the stock a “positive” rating in a research note on Monday, July 15th. Evercore ISI dropped their target price on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Truist Financial reiterated a “hold” rating and issued a $18.00 price target (up previously from $12.00) on shares of Sunrun in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.33.

Sunrun Stock Performance

Shares of NASDAQ:RUN opened at $18.56 on Friday. The firm’s 50 day simple moving average is $18.70 and its 200 day simple moving average is $14.58. Sunrun has a fifty-two week low of $8.43 and a fifty-two week high of $22.26. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of -2.78 and a beta of 2.59. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31.

Sunrun (NASDAQ:RUN) last issued its earnings results on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, beating the consensus estimate of ($0.33) by $0.88. The firm had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The business’s quarterly revenue was down 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. As a group, sell-side analysts forecast that Sunrun will post -0.16 earnings per share for the current year.

Insider Buying and Selling at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the sale, the director now directly owns 1,192,446 shares of the company’s stock, valued at $24,087,409.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jeanna Steele sold 2,513 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $12.61, for a total value of $31,688.93. Following the sale, the insider now owns 312,774 shares in the company, valued at approximately $3,944,080.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00. Following the sale, the director now directly owns 1,192,446 shares of the company’s stock, valued at approximately $24,087,409.20. The disclosure for this sale can be found here. Insiders sold a total of 178,675 shares of company stock worth $3,253,289 over the last ninety days. 3.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunrun

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sylebra Capital LLC bought a new position in Sunrun during the 2nd quarter worth $35,387,000. Vanguard Group Inc. increased its position in Sunrun by 14.0% during the first quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after acquiring an additional 2,743,148 shares during the period. Greenvale Capital LLP raised its stake in Sunrun by 20.5% in the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after purchasing an additional 2,000,000 shares in the last quarter. Norges Bank bought a new stake in Sunrun in the 4th quarter valued at about $23,186,000. Finally, Masters Capital Management LLC acquired a new position in shares of Sunrun during the 4th quarter worth approximately $19,630,000. Institutional investors own 91.69% of the company’s stock.

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.