Glj Research Reiterates “Sell” Rating for Sunrun (NASDAQ:RUN)

Sunrun (NASDAQ:RUN)‘s stock had its “sell” rating reiterated by stock analysts at Glj Research in a note issued to investors on Thursday,Benzinga reports. They currently have a $4.63 target price on the energy company’s stock. Glj Research’s price objective indicates a potential downside of 61.09% from the company’s current price.

A number of other analysts have also recently weighed in on RUN. Weiss Ratings cut shares of Sunrun from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. Loop Capital set a $12.00 price objective on shares of Sunrun in a research note on Tuesday, March 3rd. TD Cowen reduced their target price on shares of Sunrun from $23.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Zacks Research lowered Sunrun from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, Barclays dropped their price target on Sunrun from $23.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.48.

Sunrun Trading Down 5.6%

RUN opened at $11.90 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44. Sunrun has a 52 week low of $5.38 and a 52 week high of $22.44. The business’s 50 day moving average is $13.62 and its two-hundred day moving average is $16.05. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 5.59 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.67. The business had revenue of $722.23 million during the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The company’s revenue was up 43.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 earnings per share. On average, research analysts predict that Sunrun will post 1.09 EPS for the current year.

Insider Activity

In other Sunrun news, CEO Mary Powell sold 193,002 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $13.25, for a total transaction of $2,557,276.50. Following the transaction, the chief executive officer owned 934,282 shares in the company, valued at approximately $12,379,236.50. The trade was a 17.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $14.07, for a total value of $703,500.00. Following the transaction, the director directly owned 557,947 shares of the company’s stock, valued at approximately $7,850,314.29. This trade represents a 8.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 694,816 shares of company stock valued at $9,366,473 over the last ninety days. 3.55% of the stock is currently owned by company insiders.

Institutional Trading of Sunrun

A number of institutional investors have recently added to or reduced their stakes in RUN. Farther Finance Advisors LLC increased its holdings in Sunrun by 156.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock valued at $27,000 after buying an additional 885 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Sunrun during the 4th quarter worth approximately $27,000. Sycomore Asset Management acquired a new stake in shares of Sunrun in the 3rd quarter worth approximately $28,000. Hantz Financial Services Inc. grew its holdings in shares of Sunrun by 59.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after acquiring an additional 564 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in Sunrun in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Company Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.