Sunrun’s (RUN) “Sell” Rating Reiterated at Glj Research

Sunrun (NASDAQ:RUN)‘s stock had its “sell” rating reissued by Glj Research in a research note issued to investors on Thursday,Benzinga reports. They presently have a $4.63 price objective on the energy company’s stock. Glj Research’s price objective would indicate a potential downside of 61.09% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group restated a “buy” rating and issued a $18.00 price target on shares of Sunrun in a research note on Thursday, May 7th. Loop Capital set a $12.00 price objective on Sunrun in a research note on Tuesday, March 3rd. Wall Street Zen lowered Sunrun from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Oppenheimer upped their price target on Sunrun from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Finally, Mizuho reduced their price target on Sunrun from $25.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.48.

Sunrun Trading Down 5.6%

RUN opened at $11.90 on Thursday. The business has a fifty day simple moving average of $13.62 and a 200-day simple moving average of $16.05. Sunrun has a 52 week low of $5.38 and a 52 week high of $22.44. The firm has a market cap of $2.84 billion, a P/E ratio of 5.59 and a beta of 2.32. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.67. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The business had revenue of $722.23 million for the quarter, compared to analysts’ expectations of $688.50 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The business’s quarterly revenue was up 43.2% on a year-over-year basis. On average, equities analysts expect that Sunrun will post 1.09 earnings per share for the current year.

Insider Transactions at Sunrun

In other news, CRO Paul S. Dickson sold 127,673 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 transaction of $1,691,667.25. Following the completion of the transaction, the executive directly owned 707,126 shares of the company’s stock, valued at approximately $9,369,419.50. This represents a 15.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeanna Steele sold 76,478 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $1,013,333.50. Following the completion of the transaction, the insider owned 384,538 shares in the company, valued at approximately $5,095,128.50. The trade was a 16.59% 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 694,816 shares of company stock valued at $9,366,473 over the last ninety days. Company insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several hedge funds have recently added to or reduced their stakes in the stock. Contour Asset Management LLC purchased a new stake in shares of Sunrun during the 4th quarter worth approximately $98,010,000. Norges Bank purchased a new position in shares of Sunrun in the 4th quarter valued at $62,169,000. Voloridge Investment Management LLC acquired a new stake in Sunrun during the 3rd quarter worth $40,193,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Sunrun by 132.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company’s stock valued at $48,777,000 after acquiring an additional 1,609,803 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Sunrun in the third quarter valued at $21,427,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.