Sunrun (NASDAQ:RUN) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Sunrun (NASDAQ:RUN) from a hold rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also recently commented on RUN. Oppenheimer reiterated an “outperform” rating and issued a $20.00 target price on shares of Sunrun in a report on Thursday, August 6th. Mizuho set a $18.00 target price on Sunrun in a research report on Thursday, August 6th. Wells Fargo & Company decreased their price target on Sunrun from $22.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, August 14th. Weiss Ratings downgraded Sunrun from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, September 24th. Finally, Glj Research reaffirmed a “sell” rating and set a $4.63 price objective on shares of Sunrun in a research note on Monday, August 17th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.92.

Sunrun Stock Down 0.7%

Shares of NASDAQ:RUN opened at $7.59 on Friday. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 5.13 and a beta of 2.44. Sunrun has a 12 month low of $7.26 and a 12 month high of $22.44. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. The company has a 50-day moving average price of $8.79 and a 200 day moving average price of $11.49.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%. The company had revenue of $869.99 million for the quarter, compared to analysts’ expectations of $746.87 million. During the same period in the previous year, the firm posted $1.07 earnings per share. The firm’s revenue for the quarter was up 52.8% on a year-over-year basis. As a group, equities research analysts predict that Sunrun will post 1.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jeanna Steele sold 10,042 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total transaction of $77,925.92. Following the transaction, the insider owned 451,673 shares of the company’s stock, valued at approximately $3,504,982.48. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $9.96, for a total value of $498,000.00. Following the transaction, the director directly owned 367,405 shares in the company, valued at approximately $3,659,353.80. This represents a 11.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 118,719 shares of company stock valued at $1,031,277 over the last quarter. Corporate insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in Sunrun during the 4th quarter valued at $27,000. Allworth Financial LP bought a new position in shares of Sunrun during the 2nd quarter worth $25,000. Summit Securities Group LLC bought a new position in shares of Sunrun during the 1st quarter worth $36,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in shares of Sunrun by 50.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 3,000 shares of the energy company’s stock valued at $55,000 after buying an additional 1,000 shares during the period. Finally, Nykredit A S purchased a new position in shares of Sunrun during the second quarter valued at $78,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

About Sunrun

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.