Sunrun (NASDAQ:RUN) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Sunrun (NASDAQ:RUN) from a buy rating to a hold rating in a report published on Wednesday, Marketbeat Ratings reports. The firm currently has $8.00 price target on the energy company’s stock, down from their prior price target of $14.00.

Several other brokerages have also recently issued reports on RUN. Truist Financial reiterated a “hold” rating and issued a $9.00 price objective (down from $12.00) on shares of Sunrun in a research note on Monday, March 3rd. Roth Capital set a $20.00 price objective on Sunrun in a research note on Friday, February 28th. StockNews.com upgraded Sunrun to a “sell” rating in a research note on Friday, December 20th. Royal Bank of Canada reduced their price objective on Sunrun from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Finally, Wells Fargo & Company reduced their price objective on Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

Sunrun Stock Up 4.7 %

NASDAQ:RUN opened at $6.50 on Wednesday. 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 stock’s fifty day moving average is $8.72 and its two-hundred day moving average is $12.31. Sunrun has a 52 week low of $5.93 and a 52 week high of $22.26. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -3.57 and a beta of 2.84.

Insiders Place Their Bets

In related news, CFO Danny Abajian sold 3,734 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $41,746.12. Following the transaction, the chief financial officer now owns 257,969 shares of the company’s stock, valued at $2,884,093.42. This trade represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mary Powell sold 4,350 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $48,633.00. Following the transaction, the chief executive officer now directly owns 560,321 shares in the company, valued at approximately $6,264,388.78. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,466 shares of company stock valued at $1,607,397. 3.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sylebra Capital LLC grew its holdings in shares of Sunrun by 124.0% during the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock worth $61,819,000 after buying an additional 3,699,405 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Sunrun by 8.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 662,211 shares of the energy company’s stock valued at $6,125,000 after purchasing an additional 52,176 shares during the period. Vident Advisory LLC lifted its position in Sunrun by 76.9% in the fourth quarter. Vident Advisory LLC now owns 20,219 shares of the energy company’s stock valued at $187,000 after purchasing an additional 8,792 shares during the period. Teza Capital Management LLC lifted its position in Sunrun by 12.9% in the fourth quarter. Teza Capital Management LLC now owns 44,677 shares of the energy company’s stock valued at $413,000 after purchasing an additional 5,121 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in Sunrun in the fourth quarter valued at about $2,363,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.