Glj Research Reiterates “Sell” Rating for Sunrun (NASDAQ:RUN)

Sunrun (NASDAQ:RUN)‘s stock had its “sell” rating reaffirmed by investment analysts at Glj Research in a report released on Thursday,Benzinga reports. They presently have a $4.63 price target on the energy company’s stock. Glj Research’s price target would suggest a potential downside of 62.66% from the company’s previous close.

Several other research firms have also recently weighed in on RUN. Jefferies Financial Group reduced their price objective on Sunrun from $22.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, April 7th. Oppenheimer upped their price objective on Sunrun from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. reduced their price objective on Sunrun from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday. Zacks Research cut Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Sunrun from $19.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, April 9th. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Sunrun presently has a consensus rating of “Moderate Buy” and an average target price of $19.19.

Sunrun Stock Up 2.5%

RUN stock opened at $12.40 on Thursday. The company has a debt-to-equity ratio of 3.38, a current ratio of 1.66 and a quick ratio of 1.27. The stock has a market capitalization of $2.92 billion, a P/E ratio of 7.25 and a beta of 2.37. The business has a 50-day moving average of $14.64 and a 200-day moving average of $17.53. Sunrun has a fifty-two week low of $5.38 and a fifty-two week high of $22.44.

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

Insider Buying and Selling at Sunrun

In related news, CAO Maria Barak sold 8,039 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $13.67, for a total transaction of $109,893.13. Following the sale, the chief accounting officer owned 72,963 shares in the company, valued at approximately $997,404.21. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Danny Abajian sold 132,953 shares of the company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $13.25, for a total value of $1,761,627.25. Following the sale, the chief financial officer owned 432,157 shares in the company, valued at $5,726,080.25. The trade was a 23.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 879,894 shares of company stock valued at $13,017,496 in the last ninety days. Insiders own 3.37% of the company’s stock.

Institutional Trading of Sunrun

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in Sunrun by 5.1% in the first quarter. Royal Bank of Canada now owns 626,536 shares of the energy company’s stock valued at $3,672,000 after buying an additional 30,175 shares during the period. Integrated Wealth Concepts LLC raised its stake in Sunrun by 47.8% in the first quarter. Integrated Wealth Concepts LLC now owns 32,767 shares of the energy company’s stock valued at $192,000 after buying an additional 10,598 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Sunrun by 2.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 238,360 shares of the energy company’s stock valued at $1,397,000 after buying an additional 5,882 shares during the period. Jones Financial Companies Lllp raised its stake in Sunrun by 511.0% in the first quarter. Jones Financial Companies Lllp now owns 27,026 shares of the energy company’s stock valued at $158,000 after buying an additional 22,603 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Sunrun by 45.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock valued at $13,518,000 after buying an additional 718,955 shares during the period. Institutional investors own 91.69% of the company’s stock.

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.