Sunrun (NASDAQ:RUN) Stock Bumped Down to “Sell” by Wall Street Zen

Wall Street Zen lowered shares of Sunrun (NASDAQ:RUN) from a hold rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

Other analysts also recently issued research reports about the stock. Barclays lowered their target price on shares of Sunrun from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, October 9th. Mizuho set a $18.00 price target on shares of Sunrun in a report on Thursday, August 6th. JPMorgan Chase & Co. reduced their price objective on shares of Sunrun from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, November 5th. Citigroup lowered their price objective on Sunrun from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. Finally, Susquehanna dropped their target price on Sunrun from $15.00 to $13.00 and set a “positive” rating on the stock in a research report on Wednesday, October 14th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given 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 $13.04.

Sunrun Stock Performance

Shares of NASDAQ:RUN traded up $0.11 during trading on Friday, reaching $8.63. The company had a trading volume of 6,020,701 shares, compared to its average volume of 12,662,994. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 4.36 and a beta of 2.35. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.52 and a quick ratio of 1.05. The stock’s fifty day moving average price is $8.15 and its 200 day moving average price is $11.99. Sunrun has a fifty-two week low of $6.78 and a fifty-two week high of $21.95.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, November 4th. The energy company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.40. Sunrun had a return on equity of 12.31% and a net margin of 14.01%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $757.53 million. During the same period last year, the company earned $0.06 earnings per share. The company’s revenue for the quarter was up 51.7% on a year-over-year basis. As a group, equities research analysts predict that Sunrun will post 1.76 EPS for the current year.

Insider Activity

In other Sunrun news, insider Jeanna Steele sold 10,042 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $77,925.92. Following the sale, the insider directly owned 451,673 shares of the company’s stock, valued at $3,504,982.48. This trade represents a 2.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul S. Dickson sold 15,837 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $122,895.12. Following the completion of the transaction, the executive directly owned 823,702 shares of the company’s stock, valued at approximately $6,391,927.52. This represents a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 71,975 shares of company stock worth $563,721 in the last quarter. Corporate insiders own 3.55% of the company’s stock.

Institutional Trading of Sunrun

Several hedge funds and other institutional investors have recently bought and sold shares of RUN. Van ECK Associates Corp increased its holdings in shares of Sunrun by 3.7% in the 2nd quarter. Van ECK Associates Corp now owns 42,838 shares of the energy company’s stock worth $573,000 after acquiring an additional 1,528 shares during the period. Summit Global Investments lifted its position in Sunrun by 8.5% in the 3rd quarter. Summit Global Investments now owns 20,444 shares of the energy company’s stock valued at $159,000 after purchasing an additional 1,606 shares during the last quarter. Allworth Financial LP acquired a new position in Sunrun during the 2nd quarter valued at about $25,000. Parallel Advisors LLC increased its stake in shares of Sunrun by 72.2% in the third quarter. Parallel Advisors LLC now owns 6,765 shares of the energy company’s stock valued at $53,000 after purchasing an additional 2,837 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Sunrun by 18.1% in the third quarter. Oppenheimer & Co. Inc. now owns 24,600 shares of the energy company’s stock valued at $191,000 after purchasing an additional 3,770 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Company Profile

Sunrun Inc. provides residential solar energy systems and battery storage in the United States. Its offerings include system design and installation, energy storage, and ongoing monitoring and maintenance for homeowners. Customers can purchase systems or use arrangements such as leases and power purchase agreements, which allow them to use solar-generated electricity without buying the equipment outright. Sunrun also offers battery storage that can provide backup power and support the use of solar energy when panels are not generating electricity.