Sunrun (NASDAQ:RUN) Price Target Cut to $23.00

Sunrun (NASDAQ:RUN) had its price target reduced by research analysts at Susquehanna from $24.00 to $23.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “positive” rating on the energy company’s stock. Susquehanna’s price objective indicates a potential upside of 57.86% from the company’s current price.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $20.00 price target on shares of Sunrun in a research note on Wednesday, September 25th. StockNews.com raised shares of Sunrun to a “sell” rating in a research note on Friday, September 27th. UBS Group increased their price target on shares of Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Jefferies Financial Group dropped their price target on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Finally, Oppenheimer increased their price target on shares of Sunrun from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.45.

Sunrun Trading Down 5.4 %

Shares of NASDAQ RUN opened at $14.57 on Wednesday. Sunrun has a 12-month low of $8.43 and a 12-month high of $22.26. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84. The company has a 50-day moving average of $18.45 and a 200 day moving average of $15.12.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.88. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The company had revenue of $523.87 million during the quarter, compared to analysts’ expectations of $516.76 million. During the same quarter in the prior year, the company earned $0.25 EPS. Sunrun’s revenue was down 11.2% compared to the same quarter last year. On average, sell-side analysts expect that Sunrun will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sunrun news, CFO Danny Abajian sold 4,869 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $79,608.15. Following the sale, the chief financial officer now directly owns 269,393 shares in the company, valued at $4,404,575.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Danny Abajian sold 4,869 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $16.35, for a total value of $79,608.15. Following the sale, the chief financial officer now directly owns 269,393 shares in the company, valued at approximately $4,404,575.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Paul S. Dickson sold 4,017 shares of Sunrun stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.35, for a total transaction of $65,677.95. Following the sale, the executive now directly owns 423,866 shares of the company’s stock, valued at approximately $6,930,209.10. 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 130,001 shares of company stock worth $2,490,345 in the last ninety days. 3.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Sunrun by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after purchasing an additional 2,743,148 shares during the last quarter. Greenvale Capital LLP lifted its position in shares of Sunrun by 20.5% during 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 during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Sunrun by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock worth $52,025,000 after purchasing an additional 729,633 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Sunrun by 0.6% in the third quarter. Handelsbanken Fonder AB now owns 3,123,059 shares of the energy company’s stock valued at $56,402,000 after acquiring an additional 18,000 shares during the last quarter. Finally, Sylebra Capital LLC purchased a new stake in Sunrun in the second quarter valued at $35,387,000. 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.