Sunrun (NASDAQ:RUN) Rating Lowered to Neutral at Guggenheim

Sunrun (NASDAQ:RUN) was downgraded by stock analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research note issued on Thursday, Briefing.com reports.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a report on Thursday, August 8th. Truist Financial reissued a “hold” rating and set a $18.00 target price (up previously from $12.00) on shares of Sunrun in a research report on Wednesday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $35.00 price target on shares of Sunrun in a research report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price objective on Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $20.00 target price on shares of Sunrun in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.70.

Sunrun Trading Down 29.6 %

Sunrun stock opened at $11.90 on Thursday. Sunrun has a one year low of $8.82 and a one year high of $22.26. The company’s fifty day moving average price is $16.97 and its two-hundred day moving average price is $15.42. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -1.87 and a beta of 2.61. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.88. The business had revenue of $523.87 million for 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 firm’s revenue was down 11.2% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. On average, analysts forecast that Sunrun will post -0.17 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In other Sunrun news, insider Jeanna Steele sold 2,357 shares of Sunrun stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $42,968.11. Following the sale, the insider now directly owns 308,260 shares of the company’s stock, valued at approximately $5,619,579.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Sunrun news, insider Jeanna Steele sold 2,357 shares of Sunrun stock in a transaction on Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $42,968.11. Following the completion of the transaction, the insider now directly owns 308,260 shares of the company’s stock, valued at approximately $5,619,579.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $14.60, for a total transaction of $730,000.00. Following the completion of the sale, the director now directly owns 1,142,446 shares in the company, valued at approximately $16,679,711.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 155,840 shares of company stock valued at $2,755,487. Company insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Sylebra Capital LLC acquired a new position in Sunrun during the 2nd quarter worth about $35,387,000. Vanguard Group Inc. lifted its position in shares of Sunrun by 14.0% during the first 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 in the last quarter. Greenvale Capital LLP grew its stake in shares of Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after purchasing an additional 2,000,000 shares during the last quarter. Senator Investment Group LP acquired a new stake in shares of Sunrun in the second quarter valued at approximately $11,860,000. Finally, Assenagon Asset Management S.A. raised its position in Sunrun by 207.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock worth $24,843,000 after purchasing an additional 927,947 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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.