Glj Research Issues Pessimistic Forecast for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its target price decreased by stock analysts at Glj Research from $6.73 to $4.63 in a report released on Thursday,Benzinga reports. The firm currently has a “sell” rating on the energy company’s stock. Glj Research’s price target points to a potential downside of 63.25% from the stock’s previous close.

RUN has been the topic of a number of other reports. Raymond James Financial began coverage on shares of Sunrun in a report on Monday, January 12th. They set a “market perform” rating on the stock. Weiss Ratings upgraded shares of Sunrun from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. The Goldman Sachs Group lifted their price objective on shares of Sunrun from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Mizuho dropped their target price on shares of Sunrun from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday, March 2nd. Finally, Zacks Research upgraded shares of Sunrun from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.58.

Sunrun Stock Performance

RUN opened at $12.60 on Thursday. The business’s 50-day simple moving average is $16.50 and its 200 day simple moving average is $17.90. Sunrun has a 52-week low of $5.38 and a 52-week high of $22.44. The company has a debt-to-equity ratio of 3.38, a quick ratio of 1.27 and a current ratio of 1.66. The firm has a market capitalization of $2.95 billion, a PE ratio of 7.37 and a beta of 2.43.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results 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. Sunrun had a return on equity of 11.72% and a net margin of 15.22%.The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $610.29 million. During the same quarter in the previous year, the firm earned $1.41 EPS. The business’s quarterly revenue was up 123.5% on a year-over-year basis. As a group, sell-side analysts expect that Sunrun will post -0.43 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Danny Abajian sold 7,190 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $17.80, for a total transaction of $127,982.00. Following the completion of the sale, the chief financial officer owned 405,518 shares in the company, valued at approximately $7,218,220.40. This trade represents a 1.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lynn Michelle Jurich sold 55,507 shares of Sunrun stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $12.68, for a total transaction of $703,828.76. Following the sale, the director directly owned 608,397 shares of the company’s stock, valued at $7,714,473.96. The trade was a 8.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 366,432 shares of company stock valued at $6,605,895. 3.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP increased its stake in shares of Sunrun by 3,147.1% during the third quarter. Quantbot Technologies LP now owns 153,164 shares of the energy company’s stock worth $2,648,000 after purchasing an additional 148,447 shares during the period. Principal Financial Group Inc. boosted its stake in Sunrun by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,194,915 shares of the energy company’s stock valued at $20,660,000 after purchasing an additional 63,284 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Sunrun by 41.7% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 498,530 shares of the energy company’s stock valued at $8,620,000 after buying an additional 146,588 shares in the last quarter. Range Financial Group LLC bought a new position in Sunrun during the 3rd quarter worth $1,403,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Sunrun by 132.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company’s stock worth $48,777,000 after buying an additional 1,609,803 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

About Sunrun

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.