Oppenheimer Issues Pessimistic Forecast for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its target price cut by equities research analysts at Oppenheimer from $22.00 to $20.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the energy company’s stock. Oppenheimer’s target price indicates a potential upside of 95.50% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Susquehanna lowered their target price on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Barclays lowered their price objective on Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Evercore ISI cut their target price on Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Guggenheim cut Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday. Finally, Glj Research reaffirmed a “sell” rating and set a $7.78 price objective on shares of Sunrun in a report on Thursday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.33.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $10.23 on Friday. The stock has a fifty day moving average price of $16.60 and a 200 day moving average price of $15.43. Sunrun has a 1-year low of $8.82 and a 1-year high of $22.26. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31. The company has a market cap of $2.29 billion, a PE ratio of -5.62 and a beta of 2.61.

Insider Activity at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00. Following the completion of the transaction, the director now owns 1,192,446 shares of the company’s stock, valued at approximately $24,087,409.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Danny Abajian sold 4,869 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.35, for a total transaction of $79,608.15. Following the sale, the chief financial officer now owns 269,393 shares in the company, valued at $4,404,575.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00. Following the completion of the sale, the director now directly owns 1,192,446 shares of the company’s stock, valued at approximately $24,087,409.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,840 shares of company stock valued at $2,755,487 over the last quarter. Insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several large investors have recently added to or reduced their stakes in RUN. International Assets Investment Management LLC raised its stake in Sunrun by 1,706.3% during the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after purchasing an additional 1,638 shares during the period. Blue Trust Inc. raised its position in shares of Sunrun by 385.5% in the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after buying an additional 1,465 shares during the period. Duncker Streett & Co. Inc. acquired a new position in Sunrun in the second quarter valued at $36,000. CWM LLC grew its position in Sunrun by 883.9% during the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after acquiring an additional 3,014 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Sunrun during the second quarter valued at about $45,000. 91.69% of the stock is currently owned by hedge funds and other 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.