Sunrun (NASDAQ:RUN) Price Target Lowered to $14.00 at UBS Group

Sunrun (NASDAQ:RUN) had its price objective dropped by UBS Group from $18.00 to $14.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the energy company’s stock. UBS Group’s price objective suggests a potential upside of 27.27% from the company’s previous close.

A number of other research analysts have also recently commented on RUN. Deutsche Bank Aktiengesellschaft upped their target price on Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a research note on Thursday, August 8th. Guggenheim cut shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Oppenheimer decreased their price objective on shares of Sunrun from $22.00 to $20.00 and set an “outperform” 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, BNP Paribas downgraded 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Sunrun currently has an average rating of “Hold” and a consensus target price of $19.28.

Sunrun Trading Down 4.5 %

RUN traded down $0.52 during trading on Tuesday, reaching $11.00. The company had a trading volume of 2,018,587 shares, compared to its average volume of 11,946,122. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. Sunrun has a 52 week low of $9.23 and a 52 week high of $22.26. The stock has a market cap of $2.47 billion, a P/E ratio of -6.04 and a beta of 2.61. The business has a 50 day simple moving average of $14.72 and a 200-day simple moving average of $15.41.

Insider Activity at Sunrun

In other news, CFO Danny Abajian sold 9,694 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.75, for a total value of $191,456.50. Following the sale, the chief financial officer now owns 278,260 shares in the company, valued at $5,495,635. This represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mary Powell sold 2,148 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total transaction of $40,360.92. Following the transaction, the chief executive officer now owns 579,193 shares of the company’s stock, valued at $10,883,036.47. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 196,795 shares of company stock valued at $3,071,225 in the last three months. 3.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently modified their holdings of the stock. Erste Asset Management GmbH purchased a new stake in Sunrun during the third quarter worth $76,152,000. Sylebra Capital LLC purchased a new stake in shares of Sunrun during the 2nd quarter worth about $35,387,000. Vanguard Group Inc. grew its position in shares of Sunrun by 14.0% during 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 grew its position in shares of Sunrun by 20.5% during the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after acquiring an additional 2,000,000 shares during the period. Finally, FMR LLC increased its stake in shares of Sunrun by 83.6% in the 3rd quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock valued at $61,952,000 after purchasing an additional 1,562,163 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.