Sunrun Inc. (NASDAQ:RUN) Stock Now Rated “Hold” by Wall Street Analysts

Sunrun Inc. (NASDAQ:RUN) has been assigned an average rating of “Hold” from the twenty-one research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $14.39.

RUN has been the topic of several research analyst reports. The Goldman Sachs Group cut their price objective on Sunrun from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Roth Capital restated a “buy” rating on shares of Sunrun in a report on Thursday, July 9th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $7.00 price target on shares of Sunrun in a report on Friday, October 9th. Mizuho set a $18.00 price objective on Sunrun in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, October 9th.

Sunrun Price Performance

Shares of Sunrun stock opened at $7.53 on Wednesday. Sunrun has a 52 week low of $6.78 and a 52 week high of $21.95. The business has a 50 day moving average price of $8.24 and a 200-day moving average price of $12.64.

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, beating the consensus estimate of $0.23 by $0.19. The company had revenue of $869.99 million for the quarter, compared to the consensus estimate of $746.87 million. Sunrun’s revenue was up 52.8% on a year-over-year basis. During the same quarter last year, the business posted $1.07 earnings per share. As a group, equities research analysts expect that Sunrun will post 1.46 EPS for the current year.

Insider Buying and Selling at Sunrun

In other news, CRO Paul 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 value of $122,895.12. Following the sale, the executive owned 823,702 shares of the company’s stock, valued at $6,391,927.52. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 16,734 shares of Sunrun 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 $129,855.84. Following the completion of the transaction, the chief financial officer owned 386,532 shares of the company’s stock, valued at $2,999,488.32. This represents a 4.15% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 118,719 shares of company stock valued at $1,031,277. Insiders own 3.55% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several hedge funds and other institutional investors have recently modified their holdings of RUN. Leonteq Securities AG boosted its holdings in Sunrun by 26.8% in the 1st quarter. Leonteq Securities AG now owns 6,281 shares of the energy company’s stock valued at $85,000 after purchasing an additional 1,327 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Sunrun in the 4th quarter worth about $27,000. Van ECK Associates Corp increased its stake in 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 last quarter. Allworth Financial LP purchased a new stake in shares of Sunrun in the 2nd quarter valued at about $25,000. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Sunrun by 6.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 37,646 shares of the energy company’s stock valued at $510,000 after acquiring an additional 2,137 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

About Sunrun

Sunrun Inc is a residential clean-energy company that designs, sells, installs, owns and maintains home solar energy systems. The company provides rooftop solar panels and related equipment through purchase and financing options, as well as subscription-based solar-as-a-service arrangements under which customers pay for the electricity their systems produce.

Sunrun also offers home energy storage through its Brightbox battery product. These systems can store solar-generated electricity for use when solar production is unavailable and may provide backup power during grid outages.