Freedom Capital Downgrades Sunrun (NASDAQ:RUN) to Hold

Sunrun (NASDAQ:RUN) was downgraded by equities researchers at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

RUN has been the topic of several other research reports. TD Cowen raised their price target on Sunrun from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 7th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sunrun in a research note on Wednesday, December 17th. Zacks Research upgraded shares of Sunrun from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 26th. Wells Fargo & Company boosted their price target on shares of Sunrun from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Finally, Loop Capital set a $12.00 price objective on shares of Sunrun in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Sunrun has an average rating of “Moderate Buy” and a consensus price target of $19.84.

Sunrun Price Performance

RUN traded down $0.46 during midday trading on Tuesday, hitting $11.71. The company had a trading volume of 6,950,977 shares, compared to its average volume of 9,922,123. Sunrun has a twelve month low of $5.38 and a twelve month high of $22.44. The firm’s 50-day simple moving average is $18.65 and its 200-day simple moving average is $18.36. The company has a market capitalization of $2.75 billion, a PE ratio of 6.85 and a beta of 2.43. The company has a debt-to-equity ratio of 3.38, a quick ratio of 1.27 and a current ratio of 1.66.

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

Insider Transactions at Sunrun

In related news, CFO Danny Abajian sold 4,193 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $12.33, for a total transaction of $51,699.69. Following the sale, the chief financial officer owned 576,244 shares of the company’s stock, valued at approximately $7,105,088.52. This trade represents a 0.72% decrease in their position. The sale 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 the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $12.68, for a total value of $703,828.76. Following the completion of the sale, the director owned 608,397 shares in the company, valued at $7,714,473.96. The trade was a 8.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 535,982 shares of company stock valued at $9,772,812. Corporate insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its stake in shares of Sunrun by 156.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock worth $27,000 after buying an additional 885 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Sunrun during the fourth quarter worth about $27,000. Sycomore Asset Management bought a new stake in Sunrun during the third quarter worth about $28,000. Hantz Financial Services Inc. boosted its position in Sunrun by 59.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock valued at $28,000 after purchasing an additional 564 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Sunrun during the fourth quarter valued at approximately $30,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.