Brokerages Set Sunrun Inc. (NASDAQ:RUN) PT at $19.99

Shares of Sunrun Inc. (NASDAQ:RUN) have earned an average rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $19.9890.

RUN has been the topic of several research reports. Guggenheim raised Sunrun from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Monday, November 10th. Citigroup upgraded shares of Sunrun from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $26.00 in a research note on Tuesday, October 21st. Wells Fargo & Company increased their price target on shares of Sunrun from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Morgan Stanley lifted their price objective on shares of Sunrun from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft set a $19.00 target price on shares of Sunrun in a research note on Wednesday, January 7th.

Sunrun Stock Up 4.9%

Shares of NASDAQ RUN opened at $19.09 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.46 and a debt-to-equity ratio of 3.67. The business’s 50 day moving average is $18.86 and its two-hundred day moving average is $17.80. Sunrun has a 52-week low of $5.38 and a 52-week high of $22.44. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of -1.71 and a beta of 2.36.

Insider Buying and Selling at Sunrun

In other news, CAO Maria Barak sold 1,630 shares of Sunrun stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $18.55, for a total value of $30,236.50. Following the completion of the transaction, the chief accounting officer owned 85,643 shares in the company, valued at approximately $1,588,677.65. This trade represents a 1.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward Harris Fenster sold 163,844 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $19.95, for a total value of $3,268,687.80. Following the transaction, the director directly owned 1,578,895 shares of the company’s stock, valued at approximately $31,498,955.25. This represents a 9.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 518,800 shares of company stock valued at $9,903,520. Insiders own 3.37% of the company’s stock.

Institutional Trading of Sunrun

Hedge funds have recently added to or reduced their stakes in the company. Maple Rock Capital Partners Inc. increased its position in shares of Sunrun by 95.6% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 8,132,648 shares of the energy company’s stock valued at $66,525,000 after purchasing an additional 3,974,464 shares during the last quarter. Norges Bank acquired a new position in shares of Sunrun during the fourth quarter worth $62,169,000. Voloridge Investment Management LLC acquired a new position in shares of Sunrun during the third quarter worth $40,193,000. Robeco Schweiz AG purchased a new position in Sunrun in the third quarter valued at $36,969,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Sunrun by 132.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company’s stock valued at $48,777,000 after buying an additional 1,609,803 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.