Sunrun (NASDAQ:RUN) Stock Rating Cut to “Sell” at Wall Street Zen

Sunrun (NASDAQ:RUN) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

RUN has been the subject of several other research reports. Mizuho set a $18.00 price objective on shares of Sunrun in a research note on Thursday, August 6th. Susquehanna decreased their target price on shares of Sunrun from $15.00 to $13.00 and set a “positive” rating on the stock in a research note on Wednesday, October 14th. TD Cowen lowered their target price on Sunrun from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Barclays lowered their target price on Sunrun from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, October 9th. Finally, JPMorgan Chase & Co. dropped their price target on Sunrun from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, November 5th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.04.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $8.63 on Friday. The firm has a 50-day simple moving average of $8.15 and a 200-day simple moving average of $11.99. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 4.36 and a beta of 2.35. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 3.22. Sunrun has a 52 week low of $6.78 and a 52 week high of $21.95.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, November 4th. The energy company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.40. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $757.53 million. Sunrun had a net margin of 14.01% and a return on equity of 12.31%. The company’s revenue for the quarter was up 51.7% on a year-over-year basis. During the same period last year, the firm posted $0.06 earnings per share. On average, equities analysts predict that Sunrun will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunrun

In other news, CAO Maria Barak sold 3,256 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $9.35, for a total transaction of $30,443.60. Following the transaction, the chief accounting officer owned 85,006 shares of the company’s stock, valued at approximately $794,806.10. The trade was a 3.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeanna Steele sold 10,042 shares of the business’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $77,925.92. Following the transaction, the insider directly owned 451,673 shares in the company, valued at approximately $3,504,982.48. The trade was a 2.17% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 71,975 shares of company stock worth $563,721. Corporate insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently bought and sold shares of RUN. Dimensional Fund Advisors LP boosted its holdings in Sunrun by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock valued at $88,375,000 after purchasing an additional 165,196 shares during the last quarter. Maple Rock Capital Partners Inc. grew its stake in shares of Sunrun by 23.1% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 3,694,548 shares of the energy company’s stock valued at $49,433,000 after buying an additional 692,448 shares during the period. Amundi increased its holdings in shares of Sunrun by 3.9% during the 2nd quarter. Amundi now owns 3,428,504 shares of the energy company’s stock worth $45,845,000 after buying an additional 127,878 shares during the last quarter. Robeco Schweiz AG increased its holdings in shares of Sunrun by 28.5% during the 3rd quarter. Robeco Schweiz AG now owns 5,478,228 shares of the energy company’s stock worth $42,566,000 after buying an additional 1,214,548 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Sunrun during the 2nd quarter worth approximately $29,953,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

About Sunrun

Sunrun Inc. provides residential solar energy systems and battery storage in the United States. Its offerings include system design and installation, energy storage, and ongoing monitoring and maintenance for homeowners. Customers can purchase systems or use arrangements such as leases and power purchase agreements, which allow them to use solar-generated electricity without buying the equipment outright. Sunrun also offers battery storage that can provide backup power and support the use of solar energy when panels are not generating electricity.