Sunrun (NASDAQ:RUN) was upgraded by research analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a research note issued to investors on Monday, The Fly reports.
A number of other research analysts also recently issued reports on the company. Susquehanna Bancshares assumed coverage on Sunrun in a research note on Monday. They issued a "positive" rating and a $75.00 price objective for the company. JMP Securities upped their price objective on Sunrun from $78.00 to $85.00 in a research note on Monday, January 4th. Piper Sandler reduced their price objective on Sunrun from $88.00 to $77.00 and set a "neutral" rating for the company in a research note on Tuesday, March 9th. They noted that the move was a valuation call. Credit Suisse Group upgraded Sunrun from a "neutral" rating to an "outperform" rating and set a $79.00 price objective for the company in a research note on Wednesday, March 3rd. Finally, TheStreet cut Sunrun from a "c-" rating to a "d" rating in a research report on Friday, February 26th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of "Buy" and a consensus price target of $77.74.
NASDAQ:RUN traded up $1.80 during trading on Monday, reaching $57.38. The company's stock had a trading volume of 4,016,594 shares, compared to its average volume of 6,071,279. The firm has a market cap of $11.62 billion, a price-to-earnings ratio of 1,434.86 and a beta of 2.32. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.78 and a current ratio of 1.08. The firm has a 50 day moving average of $66.63 and a 200-day moving average of $65.98. Sunrun has a 12 month low of $7.84 and a 12 month high of $100.93.
In other Sunrun news, General Counsel Jeanna Steele sold 1,589 shares of the company's stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $62.64, for a total value of $99,534.96. Following the transaction, the general counsel now directly owns 120,678 shares in the company, valued at approximately $7,559,269.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michelle Philpot sold 1,645 shares of the company's stock in a transaction dated Wednesday, March 17th. The stock was sold at an average price of $55.06, for a total value of $90,573.70. Following the completion of the transaction, the chief accounting officer now owns 42,939 shares in the company, valued at $2,364,221.34. The disclosure for this sale can be found here. Insiders have sold a total of 623,380 shares of company stock worth $47,396,964 in the last three months. 8.55% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Simon Quick Advisors LLC bought a new position in Sunrun in the 4th quarter worth about $28,000. Dimension Capital Management LLC bought a new position in Sunrun in the 3rd quarter worth about $32,000. Horan Securities Inc. bought a new position in Sunrun in the 4th quarter worth about $31,000. International Assets Investment Management LLC bought a new position in Sunrun in the 4th quarter worth about $35,000. Finally, Exchange Traded Concepts LLC bought a new position in Sunrun in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 85.35% of the company's stock.
About Sunrun
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.
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