Sunrun (NASDAQ:RUN) Stock Rating Upgraded by Glj Research

Sunrun (NASDAQ:RUN) was upgraded by research analysts at Glj Research from a “strong sell” rating to a “hold” rating in a research note issued on Friday, Marketbeat reports. The brokerage presently has a $7.78 price objective on the energy company’s stock. Glj Research’s price objective indicates a potential upside of 5.99% from the company’s current price.

RUN has been the subject of several other reports. BNP Paribas Exane downgraded Sunrun from an “outperform” rating to a “neutral” rating and set a $10.00 price target for the company. in a report on Thursday, May 22nd. Susquehanna lowered their price objective on Sunrun from $13.00 to $10.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Roth Capital set a $20.00 price objective on Sunrun in a report on Friday, February 28th. Truist Financial reaffirmed a “hold” rating and set a $6.00 price objective (down from $9.00) on shares of Sunrun in a report on Wednesday, April 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $11.00 price objective on shares of Sunrun in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Sunrun has an average rating of “Hold” and an average price target of $14.15.

Sunrun Trading Up 7.2%

Shares of NASDAQ:RUN traded up $0.49 during trading on Friday, reaching $7.34. 25,367,211 shares of the company traded hands, compared to its average volume of 11,764,472. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -4.03 and a beta of 2.66. Sunrun has a 52-week low of $5.45 and a 52-week 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 business’s fifty day moving average is $7.61 and its 200-day moving average is $8.64.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $504.27 million during the quarter, compared to analyst estimates of $487.29 million. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, analysts forecast that Sunrun will post -0.43 EPS for the current year.

Insider Transactions at Sunrun

In related news, CFO Danny Abajian sold 16,927 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $114,087.98. Following the sale, the chief financial officer now directly owns 231,279 shares of the company’s stock, valued at $1,558,820.46. This trade represents a 6.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mary Powell sold 31,197 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $210,267.78. Following the sale, the chief executive officer now directly owns 534,615 shares in the company, valued at approximately $3,603,305.10. This trade represents a 5.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,540 shares of company stock worth $595,944 over the last three months. 3.37% of the stock is currently owned by insiders.

Institutional Trading of Sunrun

Institutional investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd acquired a new stake in Sunrun in the fourth quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. grew its holdings in Sunrun by 133.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after purchasing an additional 2,000 shares during the period. Summit Securities Group LLC acquired a new stake in Sunrun in the fourth quarter valued at approximately $53,000. Union Bancaire Privee UBP SA acquired a new stake in Sunrun in the fourth quarter valued at approximately $56,000. Finally, Apollon Wealth Management LLC acquired a new stake in Sunrun in the first quarter valued at approximately $60,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.