Sunrun’s (RUN) “Sell” Rating Reaffirmed at Glj Research

Glj Research reissued their sell rating on shares of Sunrun (NASDAQ:RUN) in a research note published on Thursday,Benzinga reports. They currently have a $4.63 target price on the energy company’s stock.

Several other analysts have also issued reports on the stock. Freedom Capital lowered shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Oppenheimer boosted their target price on shares of Sunrun from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Royal Bank Of Canada restated an “outperform” rating on shares of Sunrun in a research report on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Sunrun from $19.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of Sunrun from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Sunrun has an average rating of “Moderate Buy” and a consensus price target of $19.19.

Sunrun Stock Up 1.3%

RUN opened at $12.26 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.66 and a debt-to-equity ratio of 3.38. The firm has a 50 day moving average price of $14.79 and a 200-day moving average price of $17.57. Sunrun has a twelve month low of $5.38 and a twelve month high of $22.44. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 7.15 and a beta of 2.37.

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

Insiders Place Their Bets

In other Sunrun news, CEO Mary Powell sold 193,002 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $2,557,276.50. Following the completion of the transaction, the chief executive officer directly owned 934,282 shares in the company, valued at $12,379,236.50. This represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeanna Steele sold 76,478 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $13.25, for a total transaction of $1,013,333.50. Following the completion of the transaction, the insider owned 384,538 shares of the company’s stock, valued at approximately $5,095,128.50. The trade was a 16.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 879,894 shares of company stock valued at $13,017,496. Insiders own 3.37% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Sunrun by 1.2% in the third quarter. Vanguard Group Inc. now owns 24,193,170 shares of the energy company’s stock worth $418,300,000 after purchasing an additional 288,945 shares during the period. PGGM Investments boosted its position in shares of Sunrun by 17.8% in the third quarter. PGGM Investments now owns 8,256,941 shares of the energy company’s stock worth $142,763,000 after purchasing an additional 1,249,683 shares during the period. Invesco Ltd. boosted its position in shares of Sunrun by 26.6% in the fourth quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock worth $107,975,000 after purchasing an additional 1,231,628 shares during the period. Geode Capital Management LLC boosted its position in shares of Sunrun by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock worth $104,220,000 after purchasing an additional 205,627 shares during the period. Finally, Contour Asset Management LLC bought a new position in shares of Sunrun in the fourth quarter worth approximately $98,010,000. 91.69% of the stock is currently owned by institutional investors.

Sunrun Company Profile

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.