Sunrun (NASDAQ:RUN) Receives “Underweight” Rating from KeyCorp

KeyCorp reiterated their underweight rating on shares of Sunrun (NASDAQ:RUN) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a $6.00 price target on the energy company’s stock.

Several other analysts have also issued reports on the company. TD Cowen reduced their target price on Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Royal Bank Of Canada reissued an “outperform” rating and issued a $12.00 target price on shares of Sunrun in a report on Tuesday, June 3rd. Citigroup restated a “neutral” rating and issued a $7.00 target price on shares of Sunrun in a research report on Thursday, April 17th. Truist Financial reaffirmed a “hold” rating and set a $6.00 price target (down previously from $9.00) on shares of Sunrun in a report on Wednesday, April 16th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $11.00 price objective on shares of Sunrun in a research note on Wednesday, April 23rd. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.72.

Sunrun Price Performance

Shares of Sunrun stock opened at $5.78 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.32 and a debt-to-equity ratio of 3.89. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -0.48 and a beta of 2.61. Sunrun has a twelve month low of $5.38 and a twelve month high of $22.26. The company has a 50-day simple moving average of $8.11 and a two-hundred day simple moving average of $8.43.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.42. The company had revenue of $504.27 million during 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 firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.40) earnings per share. Analysts forecast that Sunrun will post -0.43 EPS for the current year.

Insider Activity at Sunrun

In other Sunrun news, CEO Mary Powell sold 31,197 shares of the company’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $210,267.78. Following the sale, the chief executive officer now owns 534,615 shares in the company, valued at approximately $3,603,305.10. The trade was a 5.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward Harris Fenster acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average cost of $10.87 per share, for a total transaction of $543,500.00. Following the completion of the purchase, the director now 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 88,993 shares of company stock worth $612,979 in the last quarter. 3.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in Sunrun in the fourth quarter valued at $29,000. Summit Securities Group LLC bought a new position in shares of Sunrun in the 4th quarter worth about $53,000. Union Bancaire Privee UBP SA acquired a new position in shares of Sunrun in the 4th quarter valued at about $56,000. Sterling Capital Management LLC lifted its stake in shares of Sunrun by 807.5% in the 4th quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company’s stock valued at $64,000 after purchasing an additional 6,129 shares during the period. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Sunrun during the 4th quarter valued at about $92,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Company Profile

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.