Sunrun (NASDAQ:RUN) Upgraded to “Hold” at Glj Research

Glj Research upgraded shares of Sunrun (NASDAQ:RUN) from a strong sell rating to a hold rating in a research report released on Friday morning, Marketbeat.com reports. The firm currently has $7.78 price objective on the energy company’s stock.

Several other analysts also recently issued reports on the company. Roth Capital set a $20.00 price objective on Sunrun in a research report on Friday, February 28th. BNP Paribas downgraded Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 22nd. The Goldman Sachs Group increased their target price on Sunrun from $12.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. BNP Paribas Exane downgraded Sunrun from an “outperform” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research report on Thursday, May 22nd. Finally, Wall Street Zen upgraded Sunrun to a “sell” rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.15.

Sunrun Stock Up 7.2%

Shares of NASDAQ:RUN opened at $7.34 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. Sunrun has a 52-week low of $5.45 and a 52-week high of $22.26. The stock’s fifty day simple moving average is $7.61 and its 200-day simple moving average is $8.61. The company has a market capitalization of $1.68 billion, a P/E ratio of -4.03 and a beta of 2.66.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.42. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The business had revenue of $504.27 million for the quarter, compared to the consensus estimate of $487.29 million. During the same period in the prior year, the business earned ($0.40) earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts forecast that Sunrun will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeanna Steele sold 9,942 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $67,009.08. Following the completion of the sale, the insider now owns 291,238 shares in the company, valued at approximately $1,962,944.12. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Danny Abajian sold 16,927 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $114,087.98. Following the completion of the sale, the chief financial officer now owns 231,279 shares of the company’s stock, valued at approximately $1,558,820.46. This trade represents a 6.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,540 shares of company stock worth $595,944 over the last three months. 3.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Sunrun

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Sunrun by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company’s stock valued at $219,679,000 after buying an additional 343,448 shares in the last quarter. Greenvale Capital LLP grew its stake in shares of Sunrun by 50.3% in the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock valued at $124,875,000 after buying an additional 4,516,793 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Sunrun by 593.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock valued at $111,263,000 after buying an additional 10,294,947 shares in the last quarter. Sylebra Capital LLC boosted its holdings in Sunrun by 23.8% in the first quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company’s stock valued at $48,482,000 after purchasing an additional 1,590,169 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Sunrun by 27.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,621,303 shares of the energy company’s stock valued at $61,252,000 after purchasing an additional 1,427,858 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.