Wells Fargo & Company Has Lowered Expectations for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its price target decreased by analysts at Wells Fargo & Company from $17.00 to $14.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 61.94% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. Susquehanna lowered their price target on shares of Sunrun from $15.00 to $13.00 and set a “positive” rating for the company in a report on Wednesday, October 14th. Weiss Ratings upgraded shares of Sunrun from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Wall Street Zen upgraded shares of Sunrun from a “sell” rating to a “hold” rating in a report on Sunday, October 18th. Mizuho set a $18.00 price objective on shares of Sunrun in a research report on Thursday, August 6th. Finally, Barclays decreased their price objective on shares of Sunrun from $14.00 to $12.00 and set an “equal weight” rating for the company in a research report on Friday, October 9th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sunrun has a consensus rating of “Moderate Buy” and a consensus target price of $13.04.

Sunrun Stock Up 1.5%

NASDAQ RUN traded up $0.12 on Friday, reaching $8.64. The company had a trading volume of 1,971,262 shares, compared to its average volume of 9,541,129. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.52 and a quick ratio of 1.05. Sunrun has a 1 year low of $6.78 and a 1 year high of $21.95. The firm has a 50-day moving average of $8.15 and a 200-day moving average of $12.06. The firm has a market capitalization of $2.09 billion, a PE ratio of 4.33 and a beta of 2.35.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, November 4th. The energy company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.40. Sunrun had a net margin of 14.01% and a return on equity of 12.31%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $757.53 million. During the same quarter last year, the firm posted $0.06 earnings per share. The business’s quarterly revenue was up 51.7% on a year-over-year basis. On average, equities research analysts anticipate that Sunrun will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Paul S. Dickson sold 15,837 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $122,895.12. Following the sale, the executive owned 823,702 shares in the company, valued at $6,391,927.52. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mary Powell sold 24,335 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total transaction of $188,839.60. Following the completion of the transaction, the chief executive officer directly owned 1,087,200 shares in the company, valued at $8,436,672. This represents a 2.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 71,975 shares of company stock worth $563,721. Corporate insiders own 3.55% of the company’s stock.

Institutional Trading of Sunrun

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bleakley Financial Group LLC grew its position in Sunrun by 40.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 45,712 shares of the energy company’s stock worth $355,000 after purchasing an additional 13,139 shares during the last quarter. Polymer Capital Management US LLC bought a new stake in shares of Sunrun during the third quarter valued at approximately $1,554,000. AlphaGrep UK Ltd raised its holdings in shares of Sunrun by 71.3% during the third quarter. AlphaGrep UK Ltd now owns 25,442 shares of the energy company’s stock valued at $198,000 after buying an additional 10,589 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Sunrun during the third quarter valued at approximately $245,000. Finally, Private Advisor Group LLC bought a new stake in shares of Sunrun during the third quarter valued at approximately $120,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

About Sunrun

Sunrun Inc. provides residential solar energy systems and battery storage in the United States. Its offerings include system design and installation, energy storage, and ongoing monitoring and maintenance for homeowners. Customers can purchase systems or use arrangements such as leases and power purchase agreements, which allow them to use solar-generated electricity without buying the equipment outright. Sunrun also offers battery storage that can provide backup power and support the use of solar energy when panels are not generating electricity.