Glj Research Cuts Sunrun (NASDAQ:RUN) Price Target to $4.63

Sunrun (NASDAQ:RUN) had its target price lowered by Glj Research from $6.73 to $4.63 in a report published on Thursday morning,Benzinga reports. Glj Research currently has a sell rating on the energy company’s stock.

Several other analysts also recently commented on RUN. Raymond James Financial assumed coverage on shares of Sunrun in a research report on Monday, January 12th. They set a “market perform” rating for the company. Mizuho dropped their target price on shares of Sunrun from $25.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. Zacks Research raised shares of Sunrun from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Oppenheimer raised their price target on shares of Sunrun from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Finally, Weiss Ratings raised shares of Sunrun from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.58.

Sunrun Stock Up 1.6%

Shares of NASDAQ:RUN opened at $12.60 on Thursday. Sunrun has a 1 year low of $5.38 and a 1 year high of $22.44. The company has a debt-to-equity ratio of 3.38, a current ratio of 1.66 and a quick ratio of 1.27. The business’s 50-day moving average is $16.50 and its 200-day moving average is $17.91. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 7.37 and a beta of 2.43.

Sunrun (NASDAQ:RUN) last released its earnings results on Thursday, February 26th. The energy company reported $0.38 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.46. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $610.29 million. Sunrun had a return on equity of 11.72% and a net margin of 15.22%.The firm’s revenue was up 123.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 earnings per share. Equities research analysts predict that Sunrun will post -0.43 earnings per share for the current year.

Insider Activity at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 55,507 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $12.68, for a total transaction of $703,828.76. Following the completion of the sale, the director owned 608,397 shares in the company, valued at approximately $7,714,473.96. The trade was a 8.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Paul S. Dickson sold 6,119 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $17.80, for a total transaction of $108,918.20. Following the sale, the executive owned 639,110 shares of the company’s stock, valued at $11,376,158. This trade represents a 0.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 366,432 shares of company stock valued at $6,605,895 over the last three months. 3.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Contour Asset Management LLC acquired a new position in shares of Sunrun during the fourth quarter valued at about $98,010,000. Maple Rock Capital Partners Inc. raised its holdings in shares of Sunrun by 95.6% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 8,132,648 shares of the energy company’s stock worth $66,525,000 after acquiring an additional 3,974,464 shares during the last quarter. Norges Bank acquired a new stake in shares of Sunrun in the 4th quarter worth about $62,169,000. Voloridge Investment Management LLC bought a new position in Sunrun in the 3rd quarter valued at about $40,193,000. Finally, Robeco Schweiz AG acquired a new position in Sunrun during the 3rd quarter valued at about $36,969,000. 91.69% of the stock is owned by institutional investors.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.