Glj Research Downgrades Sunrun (NASDAQ:RUN) to Sell

Sunrun (NASDAQ:RUN) was downgraded by Glj Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports.

Several other research firms have also commented on RUN. The Goldman Sachs Group upped their target price on Sunrun from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $11.00 price objective on shares of Sunrun in a research note on Wednesday, April 23rd. Roth Capital set a $20.00 target price on shares of Sunrun in a research report on Friday, February 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $12.00 price target on shares of Sunrun in a research report on Tuesday, June 3rd. Finally, Jefferies Financial Group lowered shares of Sunrun from a “hold” rating to an “underperform” rating and dropped their price target for the stock from $6.00 to $5.00 in a research report on Wednesday, June 11th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Sunrun has a consensus rating of “Hold” and a consensus target price of $13.43.

Sunrun Price Performance

Sunrun stock traded up $0.01 during mid-day trading on Tuesday, hitting $6.24. 17,121,559 shares of the company were exchanged, compared to its average volume of 12,909,761. The company has a debt-to-equity ratio of 3.89, a current ratio of 1.32 and a quick ratio of 0.99. The business’s 50 day simple moving average is $8.11 and its two-hundred day simple moving average is $8.31. The company has a market capitalization of $1.43 billion, a P/E ratio of -0.51 and a beta of 2.61. Sunrun has a 12-month low of $5.38 and a 12-month high of $22.26.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.42. The business had revenue of $504.27 million for the quarter, compared to the consensus estimate of $487.29 million. Sunrun had a negative net margin of 129.97% and a positive return on equity of 9.42%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. Analysts forecast that Sunrun will post -0.43 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Edward Harris Fenster acquired 50,000 shares of Sunrun stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $10.87 per share, with a total value of $543,500.00. Following the completion of the acquisition, the director now directly owns 1,408,182 shares of the company’s stock, valued at $15,306,938.34. This trade represents a 3.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Danny Abajian sold 16,927 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $114,087.98. Following the transaction, the chief financial officer now directly owns 231,279 shares in the company, valued at approximately $1,558,820.46. The trade was a 6.82% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,993 shares of company stock worth $612,979. 3.37% of the stock is currently owned by insiders.

Institutional Trading of Sunrun

A number of institutional investors have recently made changes to their positions in RUN. Aster Capital Management DIFC Ltd acquired a new position in Sunrun in the fourth quarter worth approximately $29,000. Summit Securities Group LLC bought a new stake in shares of Sunrun during the 4th quarter worth $53,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Sunrun during the fourth quarter worth $56,000. Apollon Wealth Management LLC purchased a new stake in shares of Sunrun during the first quarter valued at $60,000. Finally, US Bancorp DE lifted its holdings in shares of Sunrun by 107.6% during the first quarter. US Bancorp DE now owns 10,307 shares of the energy company’s stock valued at $60,000 after purchasing an additional 5,342 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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.