Roth Mkm Has Lowered Expectations for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its price objective decreased by stock analysts at Roth Mkm from $35.00 to $30.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Roth Mkm’s price objective would indicate a potential upside of 200.60% from the stock’s previous close.

A number of other research firms have also recently weighed in on RUN. JPMorgan Chase & Co. raised their price target on shares of Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. The Goldman Sachs Group restated a “buy” rating and issued a $20.00 target price on shares of Sunrun in a research note on Wednesday, September 25th. Guggenheim lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday. Jefferies Financial Group decreased their price objective on Sunrun from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, BMO Capital Markets boosted their target price on Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $21.33.

Sunrun Stock Down 14.0 %

Sunrun stock traded down $1.62 during mid-day trading on Friday, reaching $9.98. 16,595,598 shares of the company were exchanged, compared to its average volume of 11,941,496. Sunrun has a 12-month low of $8.82 and a 12-month high of $22.26. The business has a fifty day moving average of $16.80 and a 200 day moving average of $15.39. The firm has a market cap of $2.23 billion, a P/E ratio of -1.59 and a beta of 2.61. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 earnings per share 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 during the quarter, compared to analysts’ expectations of $516.76 million. During the same period in the prior year, the business posted $0.25 EPS. The firm’s quarterly revenue was down 11.2% on a year-over-year basis. Research analysts anticipate that Sunrun will post -0.17 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 1,192,446 shares of the company’s stock, valued at $24,087,409.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Sunrun news, 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 completion of the transaction, the chief financial officer now owns 278,260 shares of the company’s stock, valued at approximately $5,495,635. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $24,087,409.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 155,840 shares of company stock worth $2,755,487 over the last 90 days. 3.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently modified their holdings of RUN. Sylebra Capital LLC acquired a new position in Sunrun during the second quarter worth $35,387,000. Vanguard Group Inc. increased its stake in shares of Sunrun by 14.0% during the first 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 in the last quarter. Greenvale Capital LLP raised 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. Senator Investment Group LP purchased a new position in Sunrun in the 2nd quarter valued at about $11,860,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Sunrun by 207.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock worth $24,843,000 after buying an additional 927,947 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

About Sunrun

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.