Sunrun (NASDAQ:RUN) Downgraded by Freedom Capital to Hold

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

Several other analysts have also issued reports on the stock. Zacks Research upgraded shares of Sunrun from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 26th. Jefferies Financial Group cut shares of Sunrun from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a report on Friday, February 27th. Morgan Stanley increased their price objective on shares of Sunrun from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. TD Cowen upped their target price on Sunrun from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Weiss Ratings upgraded Sunrun from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.84.

Sunrun Stock Performance

Shares of RUN stock opened at $12.17 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.27 and a debt-to-equity ratio of 3.38. The firm has a fifty day simple moving average of $18.65 and a two-hundred day simple moving average of $18.36. Sunrun has a 12 month low of $5.38 and a 12 month high of $22.44. The firm has a market capitalization of $2.85 billion, a PE ratio of 7.12 and a beta of 2.43.

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

Insider Buying and Selling at Sunrun

In other Sunrun news, CAO Maria Barak sold 1,630 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $18.55, for a total value of $30,236.50. Following the completion of the transaction, the chief accounting officer directly owned 85,643 shares of the company’s stock, valued at $1,588,677.65. This trade represents a 1.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary Powell sold 5,357 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $12.33, for a total transaction of $66,051.81. Following the transaction, the chief executive officer owned 1,130,180 shares of the company’s stock, valued at $13,935,119.40. This trade represents a 0.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 535,982 shares of company stock worth $9,772,812 in the last ninety days. Insiders own 3.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC raised its stake in Sunrun by 156.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock valued at $27,000 after purchasing an additional 885 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Sunrun during the 4th quarter valued at $27,000. Sycomore Asset Management bought a new stake in shares of Sunrun during the 3rd quarter worth $28,000. Hantz Financial Services Inc. increased its stake in Sunrun by 59.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock valued at $28,000 after acquiring an additional 564 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Sunrun in the fourth quarter valued at $30,000. Hedge funds and other 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.