Sunrun (NASDAQ:RUN) PT Lowered to $23.00

Sunrun (NASDAQ:RUN) had its target price reduced by Susquehanna from $24.00 to $23.00 in a report released on Wednesday, Benzinga reports. Susquehanna currently has a positive rating on the energy company’s stock.

Several other equities research analysts have also recently issued reports on RUN. Barclays raised their target price on Sunrun from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Oppenheimer upped their target price on shares of Sunrun from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Piper Sandler lifted their price target on shares of Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, UBS Group lifted their target price on shares of Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.45.

Sunrun Stock Up 2.1 %

NASDAQ RUN opened at $15.40 on Wednesday. The business’s fifty day simple moving average is $18.53 and its 200-day simple moving average is $15.12. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84. The firm has a market cap of $3.41 billion, a PE ratio of -2.31 and a beta of 2.58. Sunrun has a 52 week low of $8.43 and a 52 week high of $22.26.

Sunrun (NASDAQ:RUN) last issued its earnings results on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The company had revenue of $523.87 million for the quarter, compared to the consensus estimate of $516.76 million. During the same period in the previous year, the firm earned $0.25 earnings per share. Sunrun’s quarterly revenue was down 11.2% compared to the same quarter last year. As a group, equities analysts anticipate that Sunrun will post -0.17 earnings per share for the current year.

Insider Activity at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Friday, July 19th. The shares were sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the sale, the director now directly owns 1,294,383 shares of the company’s stock, valued at approximately $21,913,904.19. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sunrun news, CEO Mary Powell sold 2,148 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total value of $40,360.92. Following the transaction, the chief executive officer now directly owns 579,193 shares in the company, valued at $10,883,036.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $16.93, for a total transaction of $846,500.00. Following the sale, the director now owns 1,294,383 shares of the company’s stock, valued at $21,913,904.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 180,001 shares of company stock valued at $3,336,845 over the last 90 days. 3.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sylebra Capital LLC purchased a new position in Sunrun during the 2nd quarter worth approximately $35,387,000. Vanguard Group Inc. increased its holdings in shares of Sunrun by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock valued at $294,245,000 after acquiring an additional 2,743,148 shares during the period. Greenvale Capital LLP raised its position in Sunrun by 20.5% in the 2nd 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. Senator Investment Group LP acquired a new stake in Sunrun during the 2nd quarter worth $11,860,000. Finally, Norden Group LLC grew its position in Sunrun by 709.5% during the 1st quarter. Norden Group LLC now owns 957,072 shares of the energy company’s stock worth $12,614,000 after purchasing an additional 838,838 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other 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.