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

Glj Research reissued their sell rating on shares of Sunrun (NASDAQ:RUN) in a report issued on Thursday morning,Benzinga reports. They currently have a $7.78 target price on the energy company’s stock.

A number of other equities analysts have also commented on the stock. UBS Group increased their price target on shares of Sunrun from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group reduced their target price on Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Guggenheim lowered Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday. Evercore ISI reduced their price objective on Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Barclays dropped their target price on Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Sunrun has a consensus rating of “Hold” and an average target price of $21.33.

Sunrun Price Performance

NASDAQ:RUN traded down $1.37 during trading hours on Thursday, hitting $10.23. 29,553,820 shares of the company’s stock traded hands, compared to its average volume of 12,005,911. The firm has a market cap of $2.29 billion, a P/E ratio of -1.59 and a beta of 2.61. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84. The business’s fifty day simple moving average is $16.80 and its two-hundred day simple moving average is $15.39. Sunrun has a 52 week low of $8.82 and a 52 week high of $22.26.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.88. The firm had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The company’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter last year, the company posted $0.25 EPS. On average, research analysts anticipate that Sunrun will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Danny Abajian sold 9,694 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.75, for a total transaction of $191,456.50. Following the transaction, the chief financial officer now owns 278,260 shares in the company, valued at $5,495,635. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00. Following the sale, the director now directly owns 1,192,446 shares of the company’s stock, valued at $24,087,409.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Danny Abajian sold 9,694 shares of Sunrun stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.75, for a total transaction of $191,456.50. Following the transaction, the chief financial officer now directly owns 278,260 shares of the company’s stock, valued at approximately $5,495,635. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,840 shares of company stock valued at $2,755,487 over the last quarter. 3.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunrun

Large investors have recently made changes to their positions in the business. Sylebra Capital LLC bought a new position in Sunrun during the 2nd quarter valued at approximately $35,387,000. Vanguard Group Inc. raised its position in shares of Sunrun by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after purchasing an additional 2,743,148 shares during the last quarter. Greenvale Capital LLP boosted its stake in Sunrun by 20.5% in the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after purchasing an additional 2,000,000 shares in the last quarter. Senator Investment Group LP bought a new position in Sunrun in the 2nd quarter worth about $11,860,000. Finally, Assenagon Asset Management S.A. grew its position in Sunrun by 207.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock valued at $24,843,000 after purchasing an additional 927,947 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Sunrun Company Profile

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.