Sunrun (NASDAQ:RUN) Raised to Buy at UBS Group

UBS Group upgraded shares of Sunrun (NASDAQ:RUN) from a neutral rating to a buy rating in a research report sent to investors on Friday morning, MarketBeat.com reports. UBS Group currently has $17.00 price objective on the energy company’s stock, up from their prior price objective of $14.00.

RUN has been the topic of several other research reports. Oppenheimer dropped their price target on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Morgan Stanley dropped their target price on Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Guggenheim downgraded Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. The Goldman Sachs Group dropped their price objective on Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Finally, Piper Sandler cut Sunrun from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $11.00 in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Sunrun has a consensus rating of “Moderate Buy” and an average price target of $19.31.

Sunrun Stock Down 6.6 %

NASDAQ RUN opened at $10.04 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. Sunrun has a fifty-two week low of $9.01 and a fifty-two week high of $22.26. The business has a 50 day moving average price of $10.69 and a two-hundred day moving average price of $14.76. The stock has a market cap of $2.25 billion, a PE ratio of -5.52 and a beta of 2.58.

Insider Activity at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $9.94, for a total transaction of $497,000.00. Following the completion of the transaction, the director now owns 1,092,446 shares in the company, valued at approximately $10,858,913.24. The trade was a 4.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Danny Abajian sold 3,734 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $41,746.12. Following the transaction, the chief financial officer now directly owns 257,969 shares in the company, valued at $2,884,093.42. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,830 shares of company stock worth $1,864,647 in the last 90 days. 3.77% of the stock is currently owned by company insiders.

Institutional Trading of Sunrun

Institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC raised its holdings in Sunrun by 1,706.3% during the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after purchasing an additional 1,638 shares in the last quarter. Blue Trust Inc. increased its position in shares of Sunrun by 385.5% during the 3rd 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 period. Wilmington Savings Fund Society FSB bought a new stake in shares of Sunrun in the 3rd quarter worth $44,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Sunrun in the second quarter valued at $56,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Sunrun during the fourth quarter valued at about $94,000. 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.