Sunrun (NASDAQ:RUN) Upgraded to “Hold” by Zacks Investment Research

Sunrun (NASDAQ:RUNGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “Sunrun Inc. develops, owns, manages and sells residential solar energy systems. The Company provides solar service offerings through channels consists of direct-to-consumer channel, solar partner channel and strategic partnership channel. It also develops and sells mounting structures through the installation and distribution operations under the SnapNrack brand. The Company operates primarily in Arizona, California, Delaware, Colorado, Connecticut, Hawaii, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New York, Oregon, Pennsylvania and South Carolina, as well as the District of Columbia. Sunrun Inc. is headquartered in San Francisco, California. “

RUN has been the topic of several other research reports. Piper Sandler cut their target price on Sunrun from $41.00 to $39.00 in a research note on Thursday, April 21st. Evercore ISI reissued a “buy” rating and issued a $75.00 price objective on shares of Sunrun in a research note on Friday, February 18th. Truist Financial dropped their price objective on Sunrun from $76.00 to $52.00 and set a “buy” rating on the stock in a research note on Monday, January 24th. BMO Capital Markets dropped their price objective on Sunrun from $57.00 to $42.00 in a research note on Friday, February 18th. Finally, JPMorgan Chase & Co. decreased their target price on Sunrun from $86.00 to $69.00 in a report on Thursday, January 20th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $58.79.

Shares of NASDAQ RUN opened at $18.15 on Thursday. The company has a market cap of $3.81 billion, a price-to-earnings ratio of -25.93 and a beta of 2.24. Sunrun has a 12-month low of $18.01 and a 12-month high of $60.60. The company has a current ratio of 1.60, a quick ratio of 1.03 and a debt-to-equity ratio of 1.03. The stock’s 50 day simple moving average is $26.71 and its 200 day simple moving average is $33.59.

Sunrun (NASDAQ:RUNGet Rating) last announced its earnings results on Wednesday, May 4th. The energy company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.38). The business had revenue of $495.78 million for the quarter, compared to the consensus estimate of $401.60 million. Sunrun had a negative net margin of 8.10% and a negative return on equity of 1.64%. The firm’s revenue was up 48.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) EPS. As a group, equities analysts forecast that Sunrun will post -0.54 earnings per share for the current fiscal year.

In other Sunrun news, insider Edward Harris Fenster sold 21,753 shares of the business’s stock in a transaction dated Tuesday, March 22nd. The stock was sold at an average price of $31.10, for a total value of $676,518.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas Arthur Vonreichbauer sold 5,089 shares of the business’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $22.91, for a total value of $116,588.99. Following the completion of the sale, the chief financial officer now directly owns 231,502 shares of the company’s stock, valued at approximately $5,303,710.82. The disclosure for this sale can be found here. Insiders sold 42,748 shares of company stock worth $1,225,347 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. IndexIQ Advisors LLC increased its stake in Sunrun by 309.6% during the third quarter. IndexIQ Advisors LLC now owns 770 shares of the energy company’s stock valued at $34,000 after acquiring an additional 582 shares during the period. CWM LLC increased its stake in Sunrun by 512.3% during the first quarter. CWM LLC now owns 845 shares of the energy company’s stock valued at $26,000 after acquiring an additional 707 shares during the period. Clearstead Advisors LLC increased its stake in Sunrun by 743.6% during the first quarter. Clearstead Advisors LLC now owns 928 shares of the energy company’s stock valued at $28,000 after acquiring an additional 818 shares during the period. Fifth Third Bancorp increased its stake in Sunrun by 120.6% during the first quarter. Fifth Third Bancorp now owns 1,006 shares of the energy company’s stock valued at $31,000 after acquiring an additional 550 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in Sunrun during the first quarter valued at about $32,000. 90.54% of the stock is owned by institutional investors and hedge funds.

Sunrun Company Profile (Get Rating)

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.

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