Sunrun (NASDAQ:RUN) Price Target Cut to $26.00

Sunrun (NASDAQ:RUN) had its target price cut by equities research analysts at Jefferies Financial Group from $32.00 to $26.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 109.51% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Janney Montgomery Scott downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th. Royal Bank of Canada cut their price target on Sunrun from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Piper Sandler lowered their price objective on Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. The Goldman Sachs Group lifted their target price on shares of Sunrun from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $19.00 target price on shares of Sunrun in a report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.21.

Sunrun Trading Up 7.8 %

Shares of RUN stock traded up $0.90 during trading hours on Thursday, reaching $12.41. The company had a trading volume of 21,010,756 shares, compared to its average volume of 13,724,250. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.26 and a quick ratio of 0.96. Sunrun has a 1-year low of $8.43 and a 1-year high of $23.85. The company has a 50 day moving average of $11.35 and a 200 day moving average of $13.14. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -1.64 and a beta of 2.50.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The business had revenue of $458.20 million for the quarter, compared to analyst estimates of $471.38 million. Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. The firm’s revenue for the quarter was down 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.12) earnings per share. On average, equities research analysts anticipate that Sunrun will post -1.69 EPS for the current year.

Insider Buying and Selling at Sunrun

In related news, Director Lynn Michelle Jurich sold 4,830 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $12.12, for a total value of $58,539.60. Following the sale, the director now directly owns 1,403,915 shares in the company, valued at approximately $17,015,449.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Lynn Michelle Jurich sold 4,830 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $12.12, for a total transaction of $58,539.60. Following the completion of the transaction, the director now directly owns 1,403,915 shares in the company, valued at $17,015,449.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mary Powell sold 5,424 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $12.12, for a total value of $65,738.88. Following the transaction, the chief executive officer now directly owns 411,628 shares in the company, valued at approximately $4,988,931.36. The disclosure for this sale can be found here. Insiders have sold 301,760 shares of company stock worth $3,615,990 in the last ninety days. 3.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunrun

Institutional investors and hedge funds have recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in Sunrun by 76.9% in the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after acquiring an additional 764 shares in the last quarter. Versant Capital Management Inc increased its position in Sunrun by 149.7% during the fourth quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock worth $37,000 after buying an additional 1,127 shares during the period. USCF Advisers LLC lifted its stake in Sunrun by 130.0% in the fourth quarter. USCF Advisers LLC now owns 2,300 shares of the energy company’s stock valued at $45,000 after buying an additional 1,300 shares during the last quarter. C M Bidwell & Associates Ltd. boosted its holdings in shares of Sunrun by 1,483.9% in the third quarter. C M Bidwell & Associates Ltd. now owns 2,360 shares of the energy company’s stock valued at $30,000 after acquiring an additional 2,211 shares during the period. Finally, BNP Paribas purchased a new position in shares of Sunrun during the first quarter worth approximately $37,000. Institutional investors and hedge funds 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.