The Goldman Sachs Group Has Lowered Expectations for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its price objective decreased by The Goldman Sachs Group from $19.00 to $17.00 in a report issued on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the energy company’s stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler cut 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. BNP Paribas cut Sunrun from an “outperform” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a report on Friday, November 8th. Roth Mkm cut their target price 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. Truist Financial reaffirmed a “hold” rating and set a $12.00 price target (down previously from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company dropped their price objective on shares of Sunrun from $20.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.21.

Sunrun Stock Performance

NASDAQ RUN opened at $9.13 on Tuesday. The business has a 50-day moving average price of $12.09 and a 200-day moving average price of $15.12. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -5.02 and a beta of 2.54. Sunrun has a twelve month low of $9.08 and a twelve month high of $22.26. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Insider Activity

In other Sunrun news, insider Jeanna Steele sold 2,624 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $42,902.40. Following the transaction, the insider now owns 305,636 shares of the company’s stock, valued at approximately $4,997,148.60. This trade represents a 0.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Paul S. Dickson sold 4,017 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $65,677.95. Following the completion of the sale, the executive now owns 423,866 shares of the company’s stock, valued at approximately $6,930,209.10. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 169,691 shares of company stock valued at $2,011,601. Corporate insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its position in Sunrun by 1,706.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,638 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Sunrun by 385.5% during the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,465 shares during the last quarter. Duncker Streett & Co. Inc. bought a new stake in Sunrun during the second quarter valued at about $36,000. CWM LLC grew its stake in Sunrun by 883.9% in the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after purchasing an additional 3,014 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Sunrun in the third quarter worth about $44,000. 91.69% of the stock is 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.