Sunrun (NASDAQ:RUN) Cut to Hold at Jefferies Financial Group

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

Other equities analysts have also recently issued research reports about the company. UBS Group reduced their price target on Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company reduced their price target on Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Roth Capital set a $20.00 price target on Sunrun in a report on Friday, February 28th. TD Cowen reduced their price target on Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Piper Sandler cut Sunrun from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $23.00 to $11.00 in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.20.

Sunrun Stock Performance

NASDAQ RUN opened at $6.50 on Wednesday. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -3.57 and a beta of 2.84. Sunrun has a twelve month low of $5.93 and a twelve 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 50-day moving average of $8.72 and a 200 day moving average of $12.31.

Insider Activity

In other news, CRO Paul S. Dickson sold 2,968 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $33,182.24. Following the completion of the sale, the executive now directly owns 418,492 shares in the company, valued at $4,678,740.56. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary Powell sold 4,350 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 560,321 shares of the company’s stock, valued at $6,264,388.78. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 171,466 shares of company stock worth $1,607,397 over the last ninety days. Corporate insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RUN. Aster Capital Management DIFC Ltd purchased a new position in Sunrun in the fourth quarter worth approximately $29,000. Newbridge Financial Services Group Inc. lifted its stake in Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after purchasing an additional 2,000 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Sunrun during the third quarter worth $44,000. Summit Securities Group LLC acquired a new position in Sunrun during the fourth quarter worth $53,000. Finally, Union Bancaire Privee UBP SA acquired a new position in Sunrun during the fourth quarter worth $56,000. 91.69% of the stock is currently owned by hedge funds and other 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.