Jefferies Financial Group Downgrades Sunrun (NASDAQ:RUN) to Hold

Sunrun (NASDAQ:RUN) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Wednesday, MarketBeat.com reports. They presently have a $8.00 price target on the energy company’s stock, down from their prior price target of $14.00. Jefferies Financial Group’s target price suggests a potential upside of 28.82% from the company’s previous close.

Several other research analysts also recently commented on RUN. Morgan Stanley cut their price target on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, November 15th. StockNews.com raised shares of Sunrun to a “sell” rating in a report on Friday, December 20th. Piper Sandler downgraded shares of Sunrun from an “overweight” rating to a “neutral” rating and cut their price target for the company from $23.00 to $11.00 in a report on Friday, November 22nd. Roth Capital set a $20.00 price target on shares of Sunrun in a report on Friday, February 28th. Finally, BMO Capital Markets cut their price target on shares of Sunrun from $11.00 to $9.00 and set a “market perform” rating for the company in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

Sunrun Stock Down 5.5 %

Sunrun stock opened at $6.21 on Wednesday. Sunrun has a 1-year low of $5.93 and a 1-year high of $22.26. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -3.41 and a beta of 2.84. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm has a 50 day simple moving average of $8.80 and a 200 day simple moving average of $12.35.

Insider Buying and Selling

In other news, Director Edward Harris Fenster acquired 150,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now owns 1,358,182 shares of the company’s stock, valued at $9,235,637.60. The trade was a 12.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mary Powell sold 4,350 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the completion of the transaction, the chief executive officer now owns 560,321 shares in the company, valued at $6,264,388.78. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 171,466 shares of company stock worth $1,607,397 in the last 90 days. 3.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunrun

A number of hedge funds have recently modified their holdings of the company. Alyeska Investment Group L.P. increased its position 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 valued at $111,263,000 after buying an additional 10,294,947 shares during the period. Greenvale Capital LLP increased its position in shares of Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock valued at $124,875,000 after buying an additional 4,516,793 shares during the period. Erste Asset Management GmbH purchased a new position in shares of Sunrun during the third quarter valued at about $76,152,000. Sylebra Capital LLC increased its position 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 about $31,022,000. Hedge funds and other 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.