Truist Financial Reaffirms Hold Rating for Sunrun (NASDAQ:RUN)

Sunrun (NASDAQ:RUN - Get Free Report)'s stock had its "hold" rating reissued by Truist Financial in a research report issued on Wednesday, Marketbeat reports. They presently have a $6.00 price target on the energy company's stock, down from their prior price target of $9.00. Truist Financial's price target indicates a potential downside of 12.37% from the company's previous close.

Other equities analysts have also issued research reports about the company. Barclays cut their target price on Sunrun from $18.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. The Goldman Sachs Group reduced their price objective on shares of Sunrun from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. lowered their target price on shares of Sunrun from $22.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company decreased their price objective on Sunrun from $15.00 to $12.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Finally, Jefferies Financial Group downgraded Sunrun from a "buy" rating to a "hold" rating and dropped their target price for the stock from $14.00 to $8.00 in a research note on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $16.01.

Sunrun Stock Up 4.9 %

NASDAQ RUN traded up $0.32 during midday trading on Wednesday, hitting $6.85. 11,271,349 shares of the company traded hands, compared to its average volume of 10,749,613. Sunrun has a 52 week low of $5.45 and a 52 week high of $22.26. The company's 50-day simple moving average is $7.00 and its 200-day simple moving average is $9.90. The company has a market cap of $1.55 billion, a PE ratio of -3.76 and a beta of 2.74. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Insider Activity at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 19,343 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $130,371.82. Following the sale, the executive now directly owns 399,729 shares of the company's stock, valued at approximately $2,694,173.46. This trade represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeanna Steele sold 9,942 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $67,009.08. Following the transaction, the insider now directly owns 291,238 shares of the company's stock, valued at approximately $1,962,944.12. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,540 shares of company stock worth $1,050,944. 3.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunrun

Several institutional investors have recently bought and sold shares of RUN. KLP Kapitalforvaltning AS acquired a new position in shares of Sunrun during the fourth quarter valued at approximately $402,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in Sunrun during the 4th quarter worth $18,500,000. Charles Schwab Investment Management Inc. increased its holdings in Sunrun by 7.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company's stock worth $21,511,000 after purchasing an additional 155,311 shares during the period. Essex Investment Management Co. LLC acquired a new stake in Sunrun in the 4th quarter valued at about $403,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Sunrun by 33.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company's stock valued at $26,385,000 after buying an additional 367,835 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.