Jefferies Financial Group Downgrades Sunrun (NASDAQ:RUN) to Hold

Sunrun (NASDAQ:RUN) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. They currently have a $8.00 price objective on the energy company’s stock, down from their prior price objective of $14.00. Jefferies Financial Group’s price objective would suggest a potential upside of 15.44% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Roth Capital set a $20.00 price objective on shares of Sunrun in a report on Friday, February 28th. Royal Bank of Canada lowered their target price on shares of Sunrun from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research report on Friday, December 20th. Barclays lowered their target price on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Finally, Piper Sandler lowered shares of Sunrun from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $11.00 in a research report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.20.

Sunrun Stock Down 0.9 %

RUN stock opened at $6.93 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. Sunrun has a twelve month low of $5.93 and a twelve month high of $22.26. The company’s 50 day moving average is $8.86 and its two-hundred day moving average is $12.39. The stock has a market cap of $1.57 billion, a P/E ratio of -3.81 and a beta of 2.84.

Insider Activity at Sunrun

In other news, Director Edward Harris Fenster bought 150,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the purchase, the director now owns 1,358,182 shares of the company’s stock, valued at $9,235,637.60. This trade represents a 12.42 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mary Powell sold 4,350 shares of Sunrun stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $48,633.00. Following the completion of the sale, the chief executive officer now owns 560,321 shares of the company’s stock, valued at $6,264,388.78. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,466 shares of company stock valued at $1,607,397. 3.77% of the stock is owned by insiders.

Institutional Trading of Sunrun

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Sunrun during the 4th quarter worth about $29,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Sunrun by 133.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after purchasing an additional 2,000 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Sunrun in the 3rd quarter worth approximately $44,000. Summit Securities Group LLC acquired a new position in shares of Sunrun in the 4th quarter valued at approximately $53,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Sunrun in the 4th quarter valued at approximately $56,000. 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.