Sunrun Inc. (NASDAQ:RUN) Receives Average Rating of “Hold” from Brokerages

Shares of Sunrun Inc. (NASDAQ:RUN) have been given a consensus recommendation of “Hold” by the twenty-three research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $14.06.

A number of analysts have commented on the company. Truist Financial reissued a “hold” rating and issued a $6.00 target price (down previously from $9.00) on shares of Sunrun in a report on Wednesday, April 16th. BMO Capital Markets lowered Sunrun from a “hold” rating to a “strong sell” rating and decreased their target price for the stock from $9.00 to $4.00 in a research report on Thursday, May 22nd. Wall Street Zen downgraded shares of Sunrun from a “hold” rating to a “sell” rating in a report on Friday, June 6th. The Goldman Sachs Group lifted their price target on shares of Sunrun from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Finally, Glj Research upgraded shares of Sunrun from a “strong sell” rating to a “hold” rating and set a $7.78 price objective on the stock in a research report on Friday, May 30th.

Sunrun Stock Performance

Shares of RUN stock opened at $8.47 on Friday. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -4.65 and a beta of 2.61. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. Sunrun has a one year low of $5.45 and a one year high of $22.26. The company’s 50-day moving average is $7.96 and its 200 day moving average is $8.51.

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

Insider Buying and Selling at Sunrun

In other news, CRO Paul S. Dickson sold 19,343 shares of Sunrun stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $130,371.82. Following the sale, the executive now owns 399,729 shares in the company, valued at $2,694,173.46. This trade represents a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mary Powell sold 31,197 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $210,267.78. Following the transaction, the chief executive officer now directly owns 534,615 shares of the company’s stock, valued at $3,603,305.10. The trade was a 5.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,993 shares of company stock valued at $612,979 over the last 90 days. 3.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

Hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. grew its holdings in Sunrun by 593.9% during the 4th 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. Greenvale Capital LLP raised its stake in Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock valued at $124,875,000 after purchasing an additional 4,516,793 shares in the last quarter. Sylebra Capital LLC lifted its position in Sunrun by 124.0% during the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock valued at $61,819,000 after purchasing an additional 3,699,405 shares during the last quarter. Norges Bank bought a new stake in shares of Sunrun in the 4th quarter worth about $31,022,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Sunrun in the 4th quarter worth about $18,500,000. 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.