Sunrun (NASDAQ:RUN) Price Target Lowered to $15.00 at Barclays

Sunrun (NASDAQ:RUN) had its price objective trimmed by Barclays from $18.00 to $15.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the energy company’s stock.

RUN has been the subject of several other research reports. Oppenheimer lowered their price objective on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Piper Sandler downgraded Sunrun from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $11.00 in a report on Friday, November 22nd. Roth Mkm decreased their price target on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 8th. Wells Fargo & Company dropped their target price on Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group reduced their price objective on Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Sunrun currently has an average rating of “Moderate Buy” and an average target price of $18.36.

Sunrun Stock Down 9.1 %

Shares of NASDAQ RUN opened at $9.26 on Tuesday. The firm’s 50-day moving average is $10.22 and its two-hundred day moving average is $14.46. The company has a market capitalization of $2.08 billion, a PE ratio of -5.09 and a beta of 2.58. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. Sunrun has a 12-month low of $8.22 and a 12-month high of $22.26.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Thursday, November 7th. The energy company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.21). The business had revenue of $537.17 million during the quarter, compared to analysts’ expectations of $560.60 million. Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. During the same period in the prior year, the firm earned $0.40 EPS. Equities analysts anticipate that Sunrun will post -0.41 EPS for the current fiscal year.

Insider Transactions at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the completion of the transaction, the director now directly owns 1,041,753 shares in the company, valued at approximately $9,813,313.26. This represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary Powell sold 4,350 shares of the company’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 $48,633.00. Following the completion of the transaction, the chief executive officer now directly owns 560,321 shares of the company’s stock, valued at $6,264,388.78. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,830 shares of company stock worth $1,614,147. Company insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RUN. Greenvale Capital LLP lifted its holdings in Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after purchasing an additional 2,000,000 shares during the last quarter. 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 acquiring an additional 54,329 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Sunrun by 0.6% during the 3rd 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. Erste Asset Management GmbH bought a new position in shares of Sunrun during the 3rd quarter valued at $76,152,000. Finally, FMR LLC boosted its holdings in Sunrun by 83.6% during the 3rd quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock valued at $61,952,000 after acquiring an additional 1,562,163 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.