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

Sunrun (NASDAQ:RUN) was upgraded by equities research analysts at Glj Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports.

A number of other analysts have also weighed in on the company. BMO Capital Markets raised their target price on Sunrun from $8.00 to $10.00 and gave the company an “underperform” rating in a research note on Thursday, August 7th. Wells Fargo & Company restated an “overweight” rating and issued a $14.00 price objective (up previously from $8.00) on shares of Sunrun in a research report on Thursday, August 14th. Citigroup restated a “neutral” rating and issued a $7.00 price objective on shares of Sunrun in a research report on Thursday, April 17th. TD Cowen boosted their target price on Sunrun from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Jefferies Financial Group upgraded Sunrun from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $5.00 to $11.00 in a research report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.63.

Sunrun Price Performance

Sunrun stock traded up $0.2130 during trading hours on Friday, hitting $15.7130. 5,818,248 shares of the company traded hands, compared to its average volume of 17,276,039. The firm’s 50-day simple moving average is $9.77 and its two-hundred day simple moving average is $8.39. The firm has a market cap of $3.63 billion, a P/E ratio of -1.35 and a beta of 2.37. Sunrun has a 1-year low of $5.38 and a 1-year high of $22.26. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, August 6th. The energy company reported $1.07 EPS for the quarter, topping the consensus estimate of ($0.18) by $1.25. The business had revenue of $569.34 million during the quarter, compared to analysts’ expectations of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. As a group, analysts forecast that Sunrun will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sunrun news, Director Alan Ferber sold 10,927 shares of Sunrun stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $11.24, for a total value of $122,819.48. Following the sale, the director owned 54,947 shares of the company’s stock, valued at approximately $617,604.28. The trade was a 16.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mary Powell sold 11,509 shares of the business’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $10.80, for a total value of $124,297.20. Following the completion of the sale, the chief executive officer owned 893,240 shares in the company, valued at $9,646,992. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,866 shares of company stock valued at $553,083. 3.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently bought and sold shares of RUN. LPL Financial LLC boosted its holdings in Sunrun by 11.7% in the fourth quarter. LPL Financial LLC now owns 49,608 shares of the energy company’s stock worth $459,000 after acquiring an additional 5,189 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Sunrun during the 4th quarter valued at about $867,000. Sterling Capital Management LLC lifted its position in shares of Sunrun by 807.5% in the fourth quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company’s stock valued at $64,000 after acquiring an additional 6,129 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of Sunrun by 6.8% in the fourth quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company’s stock valued at $253,000 after acquiring an additional 1,749 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in Sunrun by 186.8% in the 4th quarter. Marshall Wace LLP now owns 585,844 shares of the energy company’s stock worth $5,419,000 after purchasing an additional 381,593 shares in the last quarter. 91.69% of the stock is currently owned by 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.