Sunrun (NASDAQ:RUN) Lowered to Neutral Rating by Guggenheim

Sunrun (NASDAQ:RUN) was downgraded by equities researchers at Guggenheim from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Briefing.com reports.

A number of other equities research analysts also recently weighed in on RUN. Piper Sandler boosted their price target on Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Jefferies Financial Group cut their target price on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Glj Research upgraded Sunrun from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. Barclays lowered their price target on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of Sunrun to a “sell” rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.70.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $11.90 on Thursday. The business has a 50-day moving average of $16.97 and a 200-day moving average of $15.42. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -1.87 and a beta of 2.61. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31. Sunrun has a 1-year low of $8.82 and a 1-year high of $22.26.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.88. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The company had revenue of $523.87 million during the quarter, compared to analysts’ expectations of $516.76 million. During the same period in the prior year, the company posted $0.25 EPS. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. On average, equities analysts anticipate that Sunrun will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at Sunrun

In other Sunrun news, CFO Danny Abajian sold 9,694 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total value of $191,456.50. Following the transaction, the chief financial officer now owns 278,260 shares of the company’s stock, valued at approximately $5,495,635. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jeanna Steele sold 2,357 shares of Sunrun stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $42,968.11. Following the transaction, the insider now directly owns 308,260 shares of the company’s stock, valued at $5,619,579.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Danny Abajian sold 9,694 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.75, for a total transaction of $191,456.50. Following the completion of the sale, the chief financial officer now owns 278,260 shares of the company’s stock, valued at approximately $5,495,635. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 155,840 shares of company stock valued at $2,755,487. 3.77% of the stock is owned by insiders.

Institutional Trading of Sunrun

Large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Sunrun by 142.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,702 shares of the energy company’s stock valued at $3,199,000 after buying an additional 142,563 shares during the period. Symmetry Investments LP acquired a new position in shares of Sunrun in the second quarter worth $1,205,000. Axxcess Wealth Management LLC purchased a new stake in shares of Sunrun during the first quarter worth $171,000. Assenagon Asset Management S.A. boosted its position in Sunrun by 207.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock valued at $24,843,000 after purchasing an additional 927,947 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in Sunrun in the second quarter valued at about $702,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Company Profile

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.