Wells Fargo & Company Lowers Sunrun (NASDAQ:RUN) Price Target to $15.00

Sunrun (NASDAQ:RUN) had its target price cut by research analysts at Wells Fargo & Company from $20.00 to $15.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 50.30% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Piper Sandler lifted their price objective on Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Susquehanna lowered their price objective on Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Guggenheim lowered Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday. Evercore ISI reduced their target price on Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $35.00 target price on shares of Sunrun in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Sunrun has a consensus rating of “Hold” and an average target price of $21.33.

Sunrun Stock Down 14.0 %

NASDAQ:RUN traded down $1.62 during trading hours on Friday, reaching $9.98. 16,595,598 shares of the company traded hands, compared to its average volume of 11,941,496. The business’s 50-day moving average price is $16.80 and its two-hundred day moving average price is $15.39. The stock has a market capitalization of $2.23 billion, a P/E ratio of -1.59 and a beta of 2.61. Sunrun has a 1 year low of $8.82 and a 1 year high of $22.26. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.88. The business had revenue of $523.87 million during the quarter, compared to analysts’ expectations of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share. Analysts predict that Sunrun will post -0.17 earnings per share for the current year.

Insider Buying and Selling at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 2,537 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $46,249.51. Following the completion of the sale, the executive now owns 427,883 shares of the company’s stock, valued at approximately $7,800,307.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Sunrun news, Director Gerald Alan Risk sold 9,045 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $20.04, for a total transaction of $181,261.80. Following the completion of the sale, the director now owns 334,761 shares of the company’s stock, valued at approximately $6,708,610.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Paul S. Dickson sold 2,537 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $46,249.51. Following the completion of the transaction, the executive now owns 427,883 shares in the company, valued at $7,800,307.09. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,840 shares of company stock valued at $2,755,487. Company insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several large investors have recently made changes to their positions in RUN. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Sunrun by 142.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,702 shares of the energy company’s stock valued at $3,199,000 after acquiring an additional 142,563 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Sunrun by 181.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,361 shares of the energy company’s stock valued at $84,000 after acquiring an additional 4,103 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Sunrun by 1.7% in the first quarter. Texas Permanent School Fund Corp now owns 190,321 shares of the energy company’s stock valued at $2,508,000 after acquiring an additional 3,133 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Sunrun in the first quarter valued at about $139,000. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Sunrun by 52.4% in the first quarter. Oppenheimer & Co. Inc. now owns 37,619 shares of the energy company’s stock valued at $496,000 after acquiring an additional 12,936 shares in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.