Sunrun's Stock Rating Update from Glj Research

On Thursday, Glj Research reiterated its "sell" rating for Sunrun (NASDAQ:RUN), setting a price target of $7.78 for the company’s shares. This target suggests a potential decline of 33.28% from the stock's last closing price. The reaffirmation of the sell rating indicates a cautious outlook on Sunrun's stock performance in the near future.

Market Reactions and Analyst Opinions

In recent weeks, other research firms have weighed in on Sunrun's stock as well. BMO Capital Markets raised their target price from $17.00 to $20.00, categorizing it as a "market perform" stock in a report dated August 7. Additionally, Piper Sandler increased their target from $20.00 to $23.00 and assigned an "overweight" rating on the same date. Furthermore, JPMorgan Chase adjusted their price target upward from $19.00 to $22.00, maintaining an "overweight" rating as well.

UBS Group also boosted their target price from $14.00 to $18.00 and gave a "neutral" rating. On the other hand, Barclays decreased their target from $19.00 to $18.00 while setting an "equal weight" rating on July 16. Presently, analysts' feedback on Sunrun is mixed, with two rating it as a sell, eight as hold, and ten as buy. Overall, the consensus rating for Sunrun stands at "Hold", with an average price target of $21.77 according to MarketBeat.

Sunrun's Stock Performance

Overall, on Thursday, Sunrun's shares saw a decline of 2.0%, dropping to $11.66 with a total trading volume of 12,354,722 shares, which is above the average volume of 11,894,493. Sunrun currently has a market capitalization of $2.61 billion, a debt-to-equity ratio of 1.84, and a price-to-earnings ratio of -1.84. After reaching a 12-month low of $8.82, the stock has experienced a high of $22.26 over the past year. Its 50-day moving average is recorded at $16.97, while the 200-day moving average stands at $15.42.

Recent Earnings Announcement

Sunrun recently published its earnings on August 6, reporting earnings of $0.55 per share, surpassing analysts' expectations of a loss of $0.33 by $0.88. Despite the positive earnings report, the company noted a year-over-year revenue decline of 11.2%, generating $523.87 million against expected revenues of $516.76 million for the quarter. Sunrun is projected to post an earnings per share (EPS) of -0.17 for the current fiscal year.

Insider Activity and Institutional Holdings

In insider trading activities, Director Gerald Alan Risk sold 9,045 shares on August 19, fetching an average price of $20.04, amounting to $181,261.80. Following this transaction, he retains approximately 334,761 shares valued at around $6.7 million. Similarly, CFO Danny Abajian sold 9,694 shares for an average price of $19.75, totaling $191,456.50. Corporate insiders have collectively sold 155,840 shares recently, accounting for a total value of $2,755,487, while insiders collectively own about 3.77% of the company’s stock.

Numerous institutional investors have recently adjusted their positions in Sunrun. For instance, Vanguard Group Inc. enhanced its stake by 14.0%, acquiring an additional 2.74 million shares, bringing its total holdings to 22.33 million shares valued at approximately $294 million. Other firms such as Greenvale Capital LLP and Dimensional Fund Advisors LP have also increased their holdings. Currently, around 91.69% of Sunrun's stock is owned by institutional investors.

Company Overview

Sunrun Inc. specializes in designing, developing, installing, selling, owning, and maintaining residential solar energy systems across the U.S. In addition to solar systems, they provide battery storage solutions and sell various solar products. The company also engages in offering services to commercial developers involved with multi-family and new home developments.

Sunrun, Analysts, Stocks