Sunrun Inc. (RUN) Rating Lowered to Sell at BidaskClub

Sunrun Inc. (NASDAQ:RUN) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Several other research firms have also commented on RUN. Goldman Sachs Group, Inc. (The) set a $10.00 price target on Sunrun and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Bank of America Corporation reissued a “neutral” rating and set a $8.00 price target (up from $7.75) on shares of Sunrun in a research report on Thursday, August 10th. Zacks Investment Research raised Sunrun from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research report on Wednesday, July 12th. ValuEngine lowered Sunrun from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Barclays PLC boosted their price target on Sunrun from $6.00 to $8.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Sunrun presently has a consensus rating of “Buy” and an average price target of $9.33.

Shares of Sunrun (NASDAQ:RUN) opened at 5.47 on Tuesday. The company has a 50-day moving average of $5.94 and a 200 day moving average of $5.94. Sunrun has a one year low of $4.15 and a one year high of $7.20. The firm has a market cap of $580.70 million, a PE ratio of 7.02 and a beta of -0.71.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Monday, August 7th. The energy company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $137.85 million for the quarter, compared to analyst estimates of $143.35 million. Sunrun had a return on equity of 8.76% and a net margin of 17.65%. Sunrun’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. On average, equities research analysts expect that Sunrun will post $1.01 EPS for the current fiscal year.

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In related news, insider Steven Vassallo sold 33,576 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $7.16, for a total transaction of $240,404.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Edward Harris Fenster sold 115,094 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $6.82, for a total value of $784,941.08. Following the sale, the chairman now directly owns 2,371,439 shares in the company, valued at $16,173,213.98. The disclosure for this sale can be found here. Corporate insiders own 24.13% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. California Public Employees Retirement System raised its position in shares of Sunrun by 4.8% during the 1st quarter. California Public Employees Retirement System now owns 44,000 shares of the energy company’s stock valued at $238,000 after acquiring an additional 2,000 shares in the last quarter. American International Group Inc. raised its position in shares of Sunrun by 7.1% during the 1st quarter. American International Group Inc. now owns 38,950 shares of the energy company’s stock valued at $210,000 after acquiring an additional 2,579 shares in the last quarter. Legal & General Group Plc raised its position in shares of Sunrun by 16.3% during the 2nd quarter. Legal & General Group Plc now owns 19,795 shares of the energy company’s stock valued at $141,000 after acquiring an additional 2,768 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Sunrun by 15.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 34,093 shares of the energy company’s stock valued at $243,000 after acquiring an additional 4,443 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Sunrun by 10.4% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 49,342 shares of the energy company’s stock valued at $266,000 after acquiring an additional 4,634 shares in the last quarter. 73.95% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Company Profile

Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.

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