UBS Group Upgrades Sunrun (NASDAQ:RUN) to “Buy”

Sunrun (NASDAQ:RUN) was upgraded by stock analysts at UBS Group from a “neutral” rating to a “buy” rating in a report released on Friday,Benzinga reports. The firm presently has a $17.00 price target on the energy company’s stock, up from their prior price target of $14.00. UBS Group’s price objective points to a potential upside of 58.14% from the stock’s previous close.

A number of other brokerages have also recently issued reports on RUN. Piper Sandler cut shares of Sunrun from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $11.00 in a report on Friday, November 22nd. TD Cowen began coverage on Sunrun in a research note on Thursday, December 19th. They issued a “buy” rating and a $21.00 price objective on the stock. Wells Fargo & Company dropped their price target on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday. Roth Mkm lowered their target price on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, The Goldman Sachs Group dropped their target price on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.31.

Sunrun Price Performance

Shares of RUN opened at $10.75 on Friday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The firm has a market cap of $2.41 billion, a PE ratio of -5.91 and a beta of 2.58. Sunrun has a twelve month low of $9.01 and a twelve month high of $22.26. The firm’s 50 day moving average price is $10.78 and its 200 day moving average price is $14.76.

Insider Activity

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $14.60, for a total value of $730,000.00. Following the sale, the director now owns 1,142,446 shares in the company, valued at approximately $16,679,711.60. The trade was a 4.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Paul S. Dickson sold 2,968 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $33,182.24. Following the sale, the executive now owns 418,492 shares of the company’s stock, valued at $4,678,740.56. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,830 shares of company stock worth $1,864,647. Corporate insiders own 3.77% of the company’s stock.

Institutional Trading of Sunrun

Hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC grew its holdings in Sunrun by 1,706.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,638 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after purchasing an additional 1,465 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Sunrun during the third quarter valued at approximately $44,000. Redwood Wealth Management Group LLC bought a new position in Sunrun in the 2nd quarter worth approximately $56,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sunrun during the second quarter worth $104,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.