Sunrun (NASDAQ:RUN) PT Lowered to $38.00 at Evercore ISI

Sunrun (NASDAQ:RUN) had its price objective lowered by Evercore ISI from $42.00 to $38.00 in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has an outperform rating on the energy company’s stock.

Several other equities research analysts have also recently commented on the stock. Truist Financial reaffirmed a hold rating and issued a $18.00 target price (up from $12.00) on shares of Sunrun in a research report on Wednesday. BMO Capital Markets raised their target price on shares of Sunrun from $17.00 to $20.00 and gave the stock a market perform rating in a research report on Wednesday. Morgan Stanley increased their price target on shares of Sunrun from $24.00 to $29.00 and gave the stock an overweight rating in a research note on Friday, June 14th. Jefferies Financial Group decreased their price target on shares of Sunrun from $32.00 to $26.00 and set a buy rating for the company in a research note on Thursday, May 9th. Finally, Barclays increased their price target on shares of Sunrun from $16.00 to $19.00 and gave the stock an equal weight rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $22.69.

Sunrun Trading Down 5.0 %

RUN traded down $0.94 during trading on Wednesday, hitting $17.89. 12,009,536 shares of the stock traded hands, compared to its average volume of 14,786,885. The firm has a 50-day moving average of $14.90 and a 200 day moving average of $13.34. Sunrun has a 12-month low of $8.43 and a 12-month high of $20.68. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.31 and a quick ratio of 0.99. The firm has a market capitalization of $3.97 billion, a P/E ratio of -2.68 and a beta of 2.61.

Sunrun (NASDAQ:RUN) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, topping 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 firm had revenue of $523.87 million during the quarter, compared to analysts’ expectations of $516.76 million. During the same period last year, the company posted $0.25 EPS. The company’s quarterly revenue was down 11.2% compared to the same quarter last year. Equities research analysts anticipate that Sunrun will post -1.26 EPS for the current year.

Insider Activity

In other news, insider Jeanna Steele sold 2,299 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $14.44, for a total transaction 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 $4,552,744.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mary Powell sold 1,741 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $14.86, for a total transaction of $25,871.26. Following the completion of the sale, the chief executive officer now directly owns 589,927 shares in the company, valued at $8,766,315.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeanna Steele sold 2,299 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $14.44, for a total transaction of $33,197.56. Following the sale, the insider now owns 315,287 shares of the company’s stock, valued at $4,552,744.28. The disclosure for this sale can be found here. Insiders sold 279,873 shares of company stock valued at $4,171,119 over the last three months. Insiders own 3.76% of the company’s stock.

Institutional Trading of Sunrun

Several large investors have recently added to or reduced their stakes in RUN. Fifth Third Bancorp boosted its position in shares of Sunrun by 76.9% in the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock worth $35,000 after purchasing an additional 764 shares during the period. Duncker Streett & Co. Inc. bought a new position in shares of Sunrun in the second quarter worth approximately $36,000. BNP Paribas bought a new position in shares of Sunrun in the first quarter worth approximately $37,000. CWM LLC boosted its position in shares of 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 period. Finally, USCF Advisers LLC boosted its position in shares of 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 period. 91.69% of the stock is currently 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.