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

Sunrun (NASDAQ:RUN)‘s stock had its “hold” rating reiterated by equities researchers at Truist Financial in a research note issued on Tuesday,Benzinga reports. They presently have a $12.00 target price on the energy company’s stock, down from their prior target price of $18.00. Truist Financial’s target price would suggest a potential upside of 25.39% from the company’s current price.

Several other brokerages also recently issued reports on RUN. Jefferies Financial Group reduced their price objective on Sunrun from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. The Goldman Sachs Group restated a “buy” rating and set a $20.00 price target on shares of Sunrun in a report on Wednesday, September 25th. Guggenheim lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. BMO Capital Markets decreased their target price on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research note on Monday. Finally, Susquehanna dropped their price target on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Sunrun currently has a consensus rating of “Hold” and an average price target of $20.54.

Sunrun Trading Down 6.5 %

Sunrun stock traded down $0.66 during midday trading on Tuesday, reaching $9.57. The stock had a trading volume of 9,550,323 shares, compared to its average volume of 12,001,631. The firm’s fifty day simple moving average is $16.39 and its two-hundred day simple moving average is $15.47. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31. Sunrun has a twelve month low of $9.02 and a twelve month high of $22.26. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -5.26 and a beta of 2.61.

Insider Activity at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $20.20, for a total value of $1,010,000.00. Following the transaction, the director now directly owns 1,192,446 shares in the company, valued at approximately $24,087,409.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the transaction, the director now owns 1,192,446 shares in the company, valued at approximately $24,087,409.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Danny Abajian sold 4,869 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $79,608.15. Following the completion of the sale, the chief financial officer now owns 269,393 shares of the company’s stock, valued at approximately $4,404,575.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 155,840 shares of company stock worth $2,755,487. 3.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RUN. Symmetry Investments LP bought a new stake in shares of Sunrun in the 2nd quarter valued at approximately $1,205,000. Axxcess Wealth Management LLC bought a new stake in Sunrun in the first quarter valued at $171,000. Assenagon Asset Management S.A. raised its stake in Sunrun by 207.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock worth $24,843,000 after acquiring an additional 927,947 shares in the last quarter. Friedenthal Financial acquired a new position in Sunrun during the second quarter worth $702,000. Finally, Granite Bay Wealth Management LLC bought a new position in shares of Sunrun during the second quarter valued at $525,000. 91.69% of the stock is owned by institutional investors.

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.