Sunrun (NASDAQ:RUN) Price Target Raised to $18.00

Sunrun (NASDAQ:RUN) had its price objective lifted by UBS Group from $14.00 to $18.00 in a report published on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the energy company’s stock.

Other equities analysts have also recently issued research reports about the stock. Mizuho dropped their price target on shares of Sunrun from $28.00 to $23.00 and set a buy rating on the stock in a research report on Friday, April 19th. Oppenheimer lifted their target price on shares of Sunrun from $19.00 to $22.00 and gave the stock an outperform rating in a research report on Wednesday. Truist Financial reissued a hold rating and set a $18.00 target price (up previously from $12.00) on shares of Sunrun in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Sunrun from $14.00 to $19.00 and gave the stock an overweight rating in a research report on Tuesday, July 16th. Finally, Evercore ISI dropped their target price on shares of Sunrun from $42.00 to $38.00 and set an outperform rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $22.69.

Sunrun Stock Down 5.0 %

NASDAQ RUN traded down $0.94 during trading hours on Wednesday, hitting $17.89. The company’s stock had a trading volume of 12,009,536 shares, compared to its average volume of 14,786,885. Sunrun has a 52 week low of $8.43 and a 52 week high of $20.68. The company has a market capitalization of $3.97 billion, a PE ratio of -2.68 and a beta of 2.61. The company has a current ratio of 1.31, a quick ratio of 0.99 and a debt-to-equity ratio of 1.84. The company’s 50-day simple moving average is $14.90 and its two-hundred day simple moving average is $13.34.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.88. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.43%. The business had revenue of $523.87 million for the quarter, compared to analysts’ expectations of $516.76 million. During the same quarter last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was down 11.2% compared to the same quarter last year. Research analysts anticipate that Sunrun will post -1.26 EPS for the current fiscal year.

Insider Activity at Sunrun

In related news, insider Jeanna Steele sold 2,299 shares of Sunrun stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $14.44, for a total value of $33,197.56. Following the completion of the transaction, the insider now directly owns 315,287 shares in the company, valued at approximately $4,552,744.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Sunrun news, insider Jeanna Steele sold 2,299 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $14.44, for a total value of $33,197.56. Following the completion of the transaction, the insider now directly owns 315,287 shares of the company’s stock, valued at approximately $4,552,744.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Edward Harris Fenster sold 9,248 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $15.00, for a total transaction of $138,720.00. Following the completion of the transaction, the director now directly owns 1,252,069 shares of the company’s stock, valued at $18,781,035. The disclosure for this sale can be found here. In the last ninety days, insiders sold 279,873 shares of company stock worth $4,171,119. Corporate insiders own 3.76% of the company’s stock.

Institutional Trading of Sunrun

Hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp lifted its holdings in shares of Sunrun by 76.9% during the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock worth $35,000 after acquiring an additional 764 shares during the last quarter. Duncker Streett & Co. Inc. bought a new stake in Sunrun in the second quarter worth $36,000. BNP Paribas bought a new stake in Sunrun in the first quarter worth $37,000. CWM LLC lifted its stake in Sunrun by 883.9% in the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after purchasing an additional 3,014 shares during the last quarter. Finally, 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 worth $45,000 after purchasing an additional 1,300 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

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.