Sunrun (NASDAQ:RUN) Receives “Hold” Rating from Truist Financial

Truist Financial reissued their hold rating on shares of Sunrun (NASDAQ:RUN) in a report released on Tuesday,Benzinga reports. The brokerage currently has a $12.00 price target on the energy company’s stock, down from their previous price target of $18.00.

Several other research firms also recently issued reports on RUN. JPMorgan Chase & Co. boosted their price target on Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Oppenheimer reduced their target price on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Wells Fargo & Company lowered their price target on shares of Sunrun from $20.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Morgan Stanley reiterated an “overweight” rating and issued a $35.00 price objective on shares of Sunrun in a research note on Tuesday, September 24th. Finally, UBS Group increased their target price on shares of Sunrun from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Two investment 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, the company currently has a consensus rating of “Hold” and a consensus price target of $20.12.

Sunrun Trading Up 0.5 %

Shares of NASDAQ:RUN opened at $10.97 on Tuesday. Sunrun has a 52-week low of $9.23 and a 52-week high of $22.26. 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 company has a market capitalization of $2.46 billion, a P/E ratio of -5.99 and a beta of 2.61. The company has a 50-day simple moving average of $15.86 and a 200 day simple moving average of $15.40.

Insider Buying and Selling

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $14.60, for a total transaction of $730,000.00. Following the transaction, the director now directly owns 1,142,446 shares of the company’s stock, valued at approximately $16,679,711.60. This represents a 4.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeanna Steele sold 2,357 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $42,968.11. Following the completion of the sale, the insider now directly owns 308,260 shares of the company’s stock, valued at $5,619,579.80. This trade represents a 0.76 % decrease in their position. 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. Insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RUN. Centiva Capital LP boosted its stake in Sunrun by 212.1% during the 3rd quarter. Centiva Capital LP now owns 56,025 shares of the energy company’s stock valued at $1,012,000 after purchasing an additional 106,025 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Sunrun during the third quarter valued at approximately $391,000. Erste Asset Management GmbH bought a new stake in Sunrun during the third quarter worth $76,152,000. Edgestream Partners L.P. raised its position in Sunrun by 771.4% in the 3rd quarter. Edgestream Partners L.P. now owns 88,968 shares of the energy company’s stock valued at $1,607,000 after buying an additional 78,758 shares during the last quarter. Finally, Point72 Europe London LLP lifted its stake in Sunrun by 49.8% during the 3rd quarter. Point72 Europe London LLP now owns 401,084 shares of the energy company’s stock valued at $7,244,000 after acquiring an additional 133,252 shares in the last quarter. 91.69% of the stock is 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.