Sunrun Inc. (NASDAQ:RUN) Receives Average Recommendation of “Moderate Buy” from Analysts

Sunrun Inc. (NASDAQ:RUN) has been assigned an average rating of “Moderate Buy” from the twenty-two research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $19.31.

A number of equities analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Oppenheimer cut their price target on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Morgan Stanley cut their price target on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Guggenheim lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $12.00 price target (down from $18.00) on shares of Sunrun in a report on Tuesday, November 12th.

Insiders Place Their Bets

In related news, CEO Mary Powell sold 4,350 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the completion of the transaction, the chief executive officer now owns 560,321 shares in the company, valued at $6,264,388.78. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $9.94, for a total transaction of $497,000.00. Following the transaction, the director now owns 1,092,446 shares of the company’s stock, valued at approximately $10,858,913.24. This trade represents a 4.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,830 shares of company stock worth $1,864,647. Company insiders own 3.77% of the company’s stock.

Institutional Trading of Sunrun

Several large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC purchased a new stake in Sunrun during the 4th quarter valued at about $94,000. Principal Financial Group Inc. grew its stake in Sunrun by 33.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock valued at $26,385,000 after acquiring an additional 367,835 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Sunrun during the 3rd quarter valued at about $896,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sunrun in the 3rd quarter valued at approximately $44,000. Finally, Virtu Financial LLC purchased a new stake in shares of Sunrun in the 3rd quarter valued at approximately $482,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Stock Performance

Shares of NASDAQ:RUN opened at $9.73 on Thursday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -5.35 and a beta of 2.58. Sunrun has a 52 week low of $9.01 and a 52 week high of $22.26. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The firm has a 50 day moving average of $10.56 and a 200 day moving average of $14.73.

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.