UBS Group Upgrades Sunrun (NASDAQ:RUN) to Buy

Sunrun (NASDAQ:RUN) was upgraded by stock analysts at UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has a $17.00 target price on the energy company’s stock, up from their previous target price of $14.00. UBS Group’s price target indicates a potential upside of 69.32% from the stock’s current price.

RUN has been the subject of a number of other research reports. Truist Financial restated a “hold” rating and set a $12.00 price objective (down previously from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. Barclays lowered their price objective on Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. BNP Paribas upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective for the company in a research note on Tuesday, January 7th. Roth Mkm lowered their price objective on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Susquehanna lowered their price objective on Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.31.

Sunrun Price Performance

RUN stock opened at $10.04 on Friday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. Sunrun has a 1 year low of $9.01 and a 1 year high of $22.26. The firm has a market cap of $2.25 billion, a P/E ratio of -5.52 and a beta of 2.58. The stock has a 50-day simple moving average of $10.69 and a 200-day simple moving average of $14.74.

Insider Activity

In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Friday, October 18th. The stock was 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 in the company, valued at $16,679,711.60. The trade was a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Danny Abajian sold 3,734 shares of Sunrun stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $41,746.12. Following the completion of the transaction, the chief financial officer now owns 257,969 shares in the company, valued at $2,884,093.42. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 164,830 shares of company stock worth $1,864,647. 3.77% of the stock is owned by company insiders.

Institutional Trading of Sunrun

Several hedge funds and other institutional investors have recently modified their holdings of RUN. International Assets Investment Management LLC lifted its position in shares of Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after buying an additional 1,638 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after buying an additional 1,465 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sunrun in the third quarter worth about $44,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Sunrun in the second quarter worth about $56,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Sunrun in the fourth quarter worth about $94,000. Institutional investors and hedge funds 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.