Sunrun (NASDAQ:RUN) Upgraded at StockNews.com

StockNews.com upgraded shares of Sunrun (NASDAQ:RUN) to a sell rating in a research note released on Friday.

Other research analysts have also issued research reports about the stock. BNP Paribas lowered shares of Sunrun from an “outperform” rating to a “neutral” rating and set a $14.00 price target on the stock. in a research note on Friday, November 8th. Piper Sandler lowered Sunrun from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $11.00 in a research note on Friday, November 22nd. Wells Fargo & Company dropped their price target on Sunrun from $20.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Jefferies Financial Group reduced their price objective on Sunrun from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Finally, UBS Group dropped their target price on Sunrun from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Sunrun has an average rating of “Hold” and an average price target of $19.21.

Sunrun Price Performance

Shares of RUN stock opened at $9.87 on Friday. Sunrun has a fifty-two week low of $9.01 and a fifty-two week high of $22.26. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -5.42 and a beta of 2.54. The stock’s 50-day simple moving average is $12.09 and its 200-day simple moving average is $15.12.

Insider Activity

In related news, CFO Danny Abajian sold 4,869 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $79,608.15. Following the completion of the transaction, the chief financial officer now owns 269,393 shares in the company, valued at $4,404,575.55. This represents a 1.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $14.60, for a total value of $730,000.00. Following the completion of the sale, the director now owns 1,142,446 shares in the company, valued at approximately $16,679,711.60. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 169,691 shares of company stock worth $2,011,601 over the last three months. 3.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

Several hedge funds and other institutional investors have recently made changes to their positions in RUN. Greenvale Capital LLP raised its position in shares of Sunrun by 20.5% in the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after buying an additional 2,000,000 shares during the last quarter. State Street Corp grew its stake in Sunrun by 0.6% during the 3rd quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock valued at $165,424,000 after acquiring an additional 54,329 shares in the last quarter. Geode Capital Management LLC raised its holdings in Sunrun by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after acquiring an additional 30,549 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Sunrun by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock worth $52,025,000 after purchasing an additional 729,633 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of Sunrun during the 3rd quarter worth approximately $76,152,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

About Sunrun

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.