Truist Financial Reiterates “Hold” Rating for Sunrun (NASDAQ:RUN)

Sunrun (NASDAQ:RUN)‘s stock had its “hold” rating reissued by investment analysts at Truist Financial in a report released on Tuesday,Benzinga reports. They currently have a $12.00 target price on the energy company’s stock, down from their prior target price of $18.00. Truist Financial’s price target would indicate a potential upside of 16.85% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Piper Sandler increased their price target on shares of Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Barclays reduced their price target on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Oppenheimer reduced their price target 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. BMO Capital Markets reduced their price target on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday. Finally, StockNews.com upgraded shares of Sunrun to a “sell” rating in a research report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.54.

Sunrun Stock Performance

Shares of RUN stock opened at $10.27 on Tuesday. The firm has a 50-day moving average of $16.03 and a 200-day moving average of $15.43. The company has a market cap of $2.30 billion, a P/E ratio of -5.64 and a beta of 2.61. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. Sunrun has a one year low of $9.23 and a one year high of $22.26.

Insiders Place Their Bets

In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Friday, October 18th. The shares were sold at an average price of $14.60, for a total value of $730,000.00. Following the transaction, the director now directly owns 1,142,446 shares of the company’s stock, valued at $16,679,711.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Gerald Alan Risk sold 9,045 shares of Sunrun stock in a transaction on Monday, August 19th. The shares were sold at an average price of $20.04, for a total value of $181,261.80. Following the sale, the director now owns 334,761 shares in the company, valued at $6,708,610.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $14.60, for a total transaction of $730,000.00. Following the sale, the director now owns 1,142,446 shares in the company, valued at approximately $16,679,711.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 155,840 shares of company stock valued at $2,755,487. 3.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunrun

A number of hedge funds have recently modified their holdings of the business. Sylebra Capital LLC bought a new stake in Sunrun in the 2nd quarter worth about $35,387,000. Vanguard Group Inc. lifted its position in shares of Sunrun by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock valued at $294,245,000 after buying an additional 2,743,148 shares in the last quarter. Greenvale Capital LLP lifted its holdings in Sunrun by 20.5% in the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after purchasing an additional 2,000,000 shares in the last quarter. FMR LLC lifted its holdings in Sunrun by 83.6% in the 3rd quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock worth $61,952,000 after purchasing an additional 1,562,163 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in 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. Institutional investors own 91.69% of the company’s stock.

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.