Truist Financial Reaffirms Hold Rating for Sunrun (NASDAQ:RUN)

Sunrun (NASDAQ:RUN)‘s stock had its “hold” rating reaffirmed by research analysts at Truist Financial in a note issued to investors on Monday,Benzinga reports. They presently have a $9.00 price target on the energy company’s stock, down from their previous price target of $12.00. Truist Financial’s price target suggests a potential upside of 32.45% from the stock’s previous close.

Several other research firms also recently weighed in on RUN. Wells Fargo & Company reduced their target price on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Oppenheimer cut their target price on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. decreased their price target on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. The Goldman Sachs Group cut their price objective on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Monday. Finally, Piper Sandler lowered shares of Sunrun from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $11.00 in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Sunrun presently has an average rating of “Moderate Buy” and a consensus price target of $17.66.

Sunrun Stock Performance

Shares of RUN stock traded down $0.46 on Monday, hitting $6.80. 4,998,439 shares of the stock were exchanged, compared to its average volume of 10,122,640. The firm’s 50 day moving average is $9.28 and its two-hundred day moving average is $13.04. Sunrun has a one year low of $6.82 and a one year high of $22.26. The firm has a market capitalization of $1.52 billion, a PE ratio of -3.73 and a beta of 2.59. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Insider Transactions at Sunrun

In related news, 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 completion of the sale, the executive now directly owns 418,492 shares in the company, valued at $4,678,740.56. This represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $9.42, for a total value of $471,000.00. Following the completion of the sale, the director now owns 1,041,753 shares of the company’s stock, valued at $9,813,313.26. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,064 shares of company stock worth $1,551,556. 3.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunrun

Large investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. boosted its holdings in shares of Sunrun by 593.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock worth $111,263,000 after purchasing an additional 10,294,947 shares during the period. Greenvale Capital LLP lifted its holdings in Sunrun by 50.3% in the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock worth $124,875,000 after buying an additional 4,516,793 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Sunrun in the 3rd quarter worth approximately $76,152,000. Sylebra Capital LLC increased its stake 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 valued at $61,819,000 after buying an additional 3,699,405 shares during the period. Finally, Norges Bank purchased a new position in shares of Sunrun during the fourth quarter valued at approximately $31,022,000. Institutional investors own 91.69% of the company’s stock.

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.