Sunrun (NASDAQ:RUN) Price Target Cut to $15.00 by Analysts at Wells Fargo & Company

Sunrun (NASDAQ:RUN) had its price objective trimmed by Wells Fargo & Company from $20.00 to $15.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

A number of other equities research analysts also recently issued reports on RUN. Jefferies Financial Group lowered their target price on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Roth Mkm reduced their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Friday. Glj Research restated a “sell” rating and issued a $7.78 price objective on shares of Sunrun in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a research note on Thursday, August 8th. Finally, Truist Financial restated a “hold” rating and issued a $18.00 price target (up previously from $12.00) on shares of Sunrun in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.33.

Sunrun Trading Down 11.8 %

Shares of Sunrun stock traded down $1.37 during trading hours on Friday, reaching $10.23. 29,577,491 shares of the company’s stock were exchanged, compared to its average volume of 12,005,911. Sunrun has a 52-week low of $8.82 and a 52-week high of $22.26. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -5.62 and a beta of 2.61. The company has a fifty day moving average of $16.60 and a 200-day moving average of $15.39. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The firm had revenue of $523.87 million for the quarter, compared to analyst estimates of $516.76 million. During the same period last year, the company earned $0.25 EPS. The firm’s quarterly revenue was down 11.2% on a year-over-year basis. Sell-side analysts forecast that Sunrun will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the completion of the transaction, the director now owns 1,192,446 shares in the company, valued at approximately $24,087,409.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $20.20, for a total value of $1,010,000.00. Following the completion of the sale, the director now directly owns 1,192,446 shares in the company, valued at $24,087,409.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Danny Abajian sold 9,694 shares of Sunrun stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.75, for a total value of $191,456.50. Following the transaction, the chief financial officer now owns 278,260 shares in the company, valued at approximately $5,495,635. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 155,840 shares of company stock valued at $2,755,487 in the last quarter. Company insiders own 3.77% of the company’s stock.

Institutional Trading of Sunrun

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Sunrun by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after acquiring an additional 2,743,148 shares during the last quarter. Greenvale Capital LLP increased its stake in Sunrun by 20.5% in the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after purchasing an additional 2,000,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Sunrun by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock valued at $52,025,000 after buying an additional 729,633 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Sunrun by 0.6% in the third quarter. Handelsbanken Fonder AB now owns 3,123,059 shares of the energy company’s stock worth $56,402,000 after buying an additional 18,000 shares during the period. Finally, Sylebra Capital LLC purchased a new position in shares of Sunrun in the second quarter worth approximately $35,387,000. 91.69% of the stock is currently owned by 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.