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

Sunrun (NASDAQ:RUN) was upgraded by investment analysts at Glj Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm presently has a $7.78 price target on the energy company’s stock. Glj Research’s price objective suggests a potential upside of 5.99% from the company’s previous close.

A number of other research firms also recently commented on RUN. Jefferies Financial Group dropped their price objective on Sunrun from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday. The Goldman Sachs Group raised their price target on Sunrun from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. BMO Capital Markets downgraded Sunrun from a “hold” rating to a “strong sell” rating and dropped their price target for the stock from $9.00 to $4.00 in a research note on Thursday, May 22nd. Wall Street Zen upgraded Sunrun to a “sell” rating in a research note on Thursday, May 8th. Finally, BNP Paribas downgraded Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Sunrun presently has a consensus rating of “Hold” and an average target price of $14.15.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $7.34 on Friday. The stock’s 50-day moving average is $7.61 and its two-hundred day moving average is $8.63. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. Sunrun has a 1-year low of $5.45 and a 1-year high of $22.26. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -4.03 and a beta of 2.66.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, topping 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 company had revenue of $504.27 million for the quarter, compared to the consensus estimate of $487.29 million. During the same quarter in the prior year, the business earned ($0.40) EPS. Sunrun’s revenue was up 10.1% on a year-over-year basis. Analysts forecast that Sunrun will post -0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mary Powell sold 31,197 shares of the business’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 transaction, the chief executive officer now owns 534,615 shares in the company, valued at approximately $3,603,305.10. The trade was a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward Harris Fenster purchased 50,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $10.87 per share, for a total transaction of $543,500.00. Following the purchase, the director now owns 1,408,182 shares of the company’s stock, valued at approximately $15,306,938.34. This represents a 3.68% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 88,540 shares of company stock worth $595,944 over the last quarter. 3.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Focus Partners Wealth lifted its stake in shares of Sunrun by 21.2% in the first quarter. Focus Partners Wealth now owns 12,702 shares of the energy company’s stock worth $74,000 after acquiring an additional 2,226 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Sunrun by 14.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 760,758 shares of the energy company’s stock valued at $4,458,000 after buying an additional 98,547 shares during the last quarter. United Services Automobile Association bought a new stake in Sunrun in the first quarter valued at about $87,000. Caxton Associates LLP bought a new stake in Sunrun in the first quarter valued at about $2,045,000. Finally, Goldman Sachs Group Inc. increased its holdings in Sunrun by 45.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock valued at $13,518,000 after buying an additional 718,955 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.