JPMorgan Chase & Co. Issues Pessimistic Forecast for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its price objective cut by JPMorgan Chase & Co. from $22.00 to $18.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 109.91% from the stock’s current price.

A number of other research firms have also commented on RUN. Susquehanna dropped their price objective on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. Guggenheim cut Sunrun from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. BMO Capital Markets decreased their price target on Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a report on Monday, November 11th. Barclays dropped their price objective on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $12.00 target price (down previously from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.11.

Sunrun Stock Performance

Shares of RUN stock traded up $0.12 during mid-day trading on Thursday, hitting $8.58. 3,793,183 shares of the stock were exchanged, compared to its average volume of 10,095,172. Sunrun has a 12-month low of $8.22 and a 12-month high of $22.26. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -4.71 and a beta of 2.58. The stock’s fifty day simple moving average is $10.25 and its two-hundred day simple moving average is $14.60.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Thursday, November 7th. The energy company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.21). The firm had revenue of $537.17 million for the quarter, compared to analyst estimates of $560.60 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. During the same period last year, the firm earned $0.40 EPS. On average, analysts forecast that Sunrun will post -0.41 EPS for the current year.

Insider Activity

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $9.94, for a total value of $497,000.00. Following the completion of the transaction, the director now directly owns 1,092,446 shares in the company, valued at $10,858,913.24. The trade was a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Paul S. Dickson sold 2,968 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $33,182.24. Following the completion of the sale, the executive now owns 418,492 shares in the company, valued at approximately $4,678,740.56. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,830 shares of company stock worth $1,614,147. 3.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunrun

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Greenvale Capital LLP lifted its holdings in shares of Sunrun by 20.5% in the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after buying an additional 2,000,000 shares during the period. State Street Corp grew its position in Sunrun by 0.6% in the third quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock worth $165,424,000 after buying an additional 54,329 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Sunrun by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after buying an additional 30,549 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Sunrun by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock worth $52,025,000 after acquiring an additional 729,633 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in Sunrun during the 3rd quarter worth about $76,152,000. 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.