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

Glj Research reaffirmed their sell rating on shares of Sunrun (NASDAQ:RUN) in a research note published on Thursday morning, MarketBeat reports. They currently have a $7.78 price objective on the energy company’s stock.

A number of other research firms have also issued reports on RUN. Truist Financial reiterated a “hold” rating and set a $18.00 price objective (up from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their target price on Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a research note on Thursday, August 8th. Guggenheim cut Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday. Piper Sandler upped their target price on Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley reissued an “overweight” rating and set a $35.00 price target on shares of Sunrun in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Sunrun presently has an average rating of “Hold” and an average price target of $21.33.

Sunrun Stock Performance

NASDAQ RUN opened at $10.23 on Thursday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66. The company has a market capitalization of $2.29 billion, a PE ratio of -5.62 and a beta of 2.61. Sunrun has a 52-week low of $8.82 and a 52-week high of $22.26. The company has a 50-day simple moving average of $16.60 and a 200 day simple moving average of $15.43.

Insider Activity at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 2,537 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $46,249.51. Following the completion of the transaction, the executive now directly owns 427,883 shares in the company, valued at approximately $7,800,307.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mary Powell sold 2,148 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.79, for a total value of $40,360.92. Following the sale, the chief executive officer now directly owns 579,193 shares of the company’s stock, valued at $10,883,036.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Paul S. Dickson sold 2,537 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $46,249.51. Following the transaction, the executive now directly owns 427,883 shares of the company’s stock, valued at $7,800,307.09. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,840 shares of company stock worth $2,755,487 over the last quarter. Corporate insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Landscape Capital Management L.L.C. bought a new stake in Sunrun during the third quarter worth about $1,309,000. Intech Investment Management LLC purchased a new position in shares of Sunrun during the third quarter valued at approximately $1,223,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Sunrun by 113.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock worth $45,426,000 after purchasing an additional 1,337,302 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Sunrun by 41.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 48,001 shares of the energy company’s stock worth $867,000 after buying an additional 14,157 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in Sunrun during the 3rd quarter valued at approximately $813,000. 91.69% of the stock is currently owned by institutional investors.

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.