Citigroup Reiterates “Neutral” Rating for Sunrun (NASDAQ:RUN)

Sunrun (NASDAQ:RUN)‘s stock had its “neutral” rating reiterated by equities researchers at Citigroup in a research note issued on Thursday, Marketbeat reports. They currently have a $7.00 price target on the energy company’s stock. Citigroup’s target price indicates a potential upside of 2.23% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. TD Cowen dropped their price objective on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Royal Bank of Canada dropped their price target on Sunrun from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Roth Capital set a $20.00 price target on Sunrun in a report on Friday, February 28th. UBS Group lowered their price objective on Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Barclays cut their target price on Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.01.

Sunrun Trading Up 4.9 %

Shares of RUN opened at $6.85 on Thursday. Sunrun has a 52-week low of $5.45 and a 52-week high of $22.26. The stock has a market cap of $1.55 billion, a PE ratio of -3.76 and a beta of 2.74. The firm’s fifty day moving average is $7.00 and its two-hundred day moving average is $9.90. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Insider Buying and Selling at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $9.10, for a total value of $455,000.00. Following the completion of the transaction, the director now owns 941,753 shares in the company, valued at $8,569,952.30. The trade was a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mary Powell sold 31,197 shares of Sunrun stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $210,267.78. Following the completion of the transaction, the chief executive officer now owns 534,615 shares of the company’s stock, valued at approximately $3,603,305.10. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 138,540 shares of company stock valued at $1,050,944 in the last three months. 3.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

A number of large investors have recently modified their holdings of the company. Alyeska Investment Group L.P. increased its holdings in Sunrun by 593.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock valued at $111,263,000 after buying an additional 10,294,947 shares during the last quarter. Greenvale Capital LLP raised its position in shares of Sunrun by 50.3% during the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock worth $124,875,000 after acquiring an additional 4,516,793 shares in the last quarter. Sylebra Capital LLC boosted its holdings in Sunrun by 124.0% in the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock valued at $61,819,000 after purchasing an additional 3,699,405 shares in the last quarter. Norges Bank purchased a new position in Sunrun in the fourth quarter valued at approximately $31,022,000. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Sunrun during the 4th quarter worth approximately $18,500,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.