Sunrun (NASDAQ:RUN) Rating Lowered to "Hold" at Jefferies Financial Group

Jefferies Financial Group downgraded shares of Sunrun (NASDAQ:RUN - Free Report) from a buy rating to a hold rating in a report published on Wednesday morning, Marketbeat.com reports. The firm currently has $8.00 price objective on the energy company's stock, down from their prior price objective of $14.00.

Other equities research analysts have also issued reports about the company. Piper Sandler lowered Sunrun from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $23.00 to $11.00 in a research report on Friday, November 22nd. Barclays reduced their target price on Sunrun from $18.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. TD Cowen reduced their target price on Sunrun from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Royal Bank of Canada reduced their target price on Sunrun from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Finally, Truist Financial reissued a "hold" rating and set a $9.00 target price (down from $12.00) on shares of Sunrun in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $17.20.

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Sunrun Price Performance

Shares of RUN stock traded up $0.29 during trading hours on Wednesday, reaching $6.50. The company had a trading volume of 9,994,201 shares, compared to its average volume of 10,711,957. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The stock has a fifty day moving average of $8.64 and a 200-day moving average of $12.09. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -3.57 and a beta of 2.84. Sunrun has a 12-month low of $5.93 and a 12-month high of $22.26.

Insider Buying and Selling at Sunrun

In related news, CRO Paul S. Dickson sold 2,968 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $33,182.24. Following the transaction, the executive now directly owns 418,492 shares of the company's stock, valued at approximately $4,678,740.56. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 1,041,753 shares in the company, valued at $9,813,313.26. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 171,466 shares of company stock worth $1,607,397. 3.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. 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 worth $111,263,000 after acquiring an additional 10,294,947 shares during the last quarter. 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 worth $124,875,000 after acquiring an additional 4,516,793 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Sunrun during the third quarter worth 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 worth $61,819,000 after acquiring an additional 3,699,405 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Sunrun during the fourth quarter worth about $31,022,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.