Sunrun (NASDAQ:RUN) Downgraded to "Underperform" Rating by Jefferies Financial Group

Jefferies Financial Group lowered shares of Sunrun (NASDAQ:RUN - Free Report) from a hold rating to an underperform rating in a report issued on Wednesday morning, MarketBeat Ratings reports. Jefferies Financial Group currently has $5.00 price objective on the energy company's stock, down from their prior price objective of $6.00.

Several other research analysts have also commented on RUN. Truist Financial reaffirmed a "hold" rating and issued a $6.00 price target (down from $9.00) on shares of Sunrun in a report on Wednesday, April 16th. The Goldman Sachs Group lifted their target price on Sunrun from $12.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Susquehanna lowered their target price on Sunrun from $13.00 to $10.00 and set a "positive" rating for the company in a report on Monday, April 14th. BNP Paribas Exane downgraded Sunrun from an "outperform" rating to a "neutral" rating and set a $10.00 price target on the stock. in a report on Thursday, May 22nd. Finally, BNP Paribas lowered Sunrun from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $14.06.

Sunrun Stock Performance

NASDAQ:RUN traded down $0.09 during trading hours on Wednesday, reaching $8.61. 7,395,469 shares of the stock were exchanged, compared to its average volume of 11,995,274. The stock has a market capitalization of $1.97 billion, a P/E ratio of -4.73 and a beta of 2.61. The firm has a 50 day simple moving average of $7.92 and a 200-day simple moving average of $8.53. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. Sunrun has a 52 week low of $5.45 and a 52 week high of $22.26.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.42. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The business had revenue of $504.27 million for the quarter, compared to analyst estimates of $487.29 million. During the same period in the prior year, the company posted ($0.40) EPS. The business's revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Sunrun will post -0.43 earnings per share for the current fiscal year.

Insider Activity at Sunrun

In related news, insider Jeanna Steele sold 9,942 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $67,009.08. Following the completion of the sale, the insider now directly owns 291,238 shares in the company, valued at approximately $1,962,944.12. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mary Powell sold 31,197 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $210,267.78. Following the completion of the transaction, the chief executive officer now directly owns 534,615 shares in the company, valued at $3,603,305.10. This represents a 5.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,993 shares of company stock valued at $612,979 over the last 90 days. 3.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd acquired a new stake in Sunrun during the 4th quarter worth about $29,000. Newbridge Financial Services Group Inc. increased its position in shares of Sunrun by 133.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company's stock worth $32,000 after acquiring an additional 2,000 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Sunrun during the fourth quarter valued at approximately $53,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Sunrun during the fourth quarter valued at approximately $56,000. Finally, Apollon Wealth Management LLC purchased a new stake in shares of Sunrun in the 1st quarter valued at approximately $60,000. 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.