Sunrun (NASDAQ:RUN) Earns Buy Rating from Analysts at TD Cowen

TD Cowen started coverage on shares of Sunrun (NASDAQ:RUN) in a research report released on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $21.00 price target on the energy company’s stock.

A number of other brokerages have also commented on RUN. BMO Capital Markets decreased their target price on Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday, November 11th. Morgan Stanley decreased their price objective on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Glj Research reiterated a “sell” rating and issued a $7.78 target price on shares of Sunrun in a report on Thursday, November 7th. Barclays decreased their price target on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Finally, Guggenheim lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.21.

Sunrun Trading Up 8.1 %

NASDAQ:RUN opened at $9.87 on Thursday. Sunrun has a 12 month low of $9.01 and a 12 month high of $22.26. 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 $2.21 billion, a price-to-earnings ratio of -5.42 and a beta of 2.54. The firm has a fifty day simple moving average of $11.97 and a two-hundred day simple moving average of $15.09.

Insider Buying and Selling

In other news, CFO Danny Abajian sold 4,869 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.35, for a total transaction of $79,608.15. Following the transaction, the chief financial officer now owns 269,393 shares of the company’s stock, valued at $4,404,575.55. This represents a 1.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $14.60, for a total value of $730,000.00. Following the transaction, the director now owns 1,142,446 shares of the company’s stock, valued at $16,679,711.60. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 169,691 shares of company stock worth $2,011,601. Insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RUN. International Assets Investment Management LLC lifted its stake in shares of Sunrun by 1,706.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after buying an additional 1,638 shares in the last quarter. Blue Trust Inc. raised its holdings in Sunrun by 385.5% during the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after acquiring an additional 1,465 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sunrun during the third quarter worth $44,000. Duncker Streett & Co. Inc. purchased a new position in shares of Sunrun in the second quarter valued at $36,000. Finally, CWM LLC raised its stake in shares of Sunrun by 883.9% during the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after purchasing an additional 3,014 shares during the period. 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.