Sunrun (NASDAQ:RUN) PT Lowered to $26.00 at Jefferies Financial Group

Sunrun (NASDAQ:RUN) had its price objective cut by analysts at Jefferies Financial Group from $32.00 to $26.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. Jefferies Financial Group’s target price suggests a potential upside of 109.51% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Piper Sandler dropped their price objective on Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Royal Bank of Canada lowered their target price on Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. BMO Capital Markets upped their price target on shares of Sunrun from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Thursday, February 22nd. Mizuho dropped their target price on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Finally, Janney Montgomery Scott cut shares of Sunrun from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.21.

Sunrun Stock Performance

Shares of Sunrun stock traded up $0.90 on Thursday, reaching $12.41. 21,010,756 shares of the company were exchanged, compared to its average volume of 13,724,250. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -1.64 and a beta of 2.50. The company’s 50-day moving average is $11.35 and its two-hundred day moving average is $13.14. Sunrun has a 1-year low of $8.43 and a 1-year high of $23.85. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, May 8th. The energy company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. The business had revenue of $458.20 million for the quarter, compared to analysts’ expectations of $471.38 million. During the same period in the previous year, the firm posted ($1.12) EPS. The company’s quarterly revenue was down 22.3% on a year-over-year basis. As a group, research analysts expect that Sunrun will post -1.69 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In other Sunrun news, Director Edward Harris Fenster sold 172,920 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total value of $2,066,394.00. Following the transaction, the director now owns 1,261,317 shares of the company’s stock, valued at $15,072,738.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Sunrun news, Director Alan Ferber bought 10,000 shares of Sunrun stock in a transaction dated Thursday, March 14th. The stock was purchased at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $97,300. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edward Harris Fenster sold 172,920 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the sale, the director now owns 1,261,317 shares in the company, valued at $15,072,738.15. The disclosure for this sale can be found here. Insiders sold a total of 301,760 shares of company stock worth $3,615,990 in the last quarter. 3.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

A number of institutional investors and hedge funds have recently bought and sold shares of RUN. State Board of Administration of Florida Retirement System increased its holdings in shares of Sunrun by 2.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 244,694 shares of the energy company’s stock worth $3,225,000 after buying an additional 5,679 shares during the period. Entropy Technologies LP purchased a new stake in Sunrun in the first quarter worth about $1,642,000. Qsemble Capital Management LP purchased a new position in shares of Sunrun in the 1st quarter valued at approximately $431,000. QRG Capital Management Inc. bought a new stake in shares of Sunrun during the first quarter valued at approximately $349,000. Finally, Headlands Technologies LLC purchased a new stake in Sunrun in the first quarter worth $53,000. 91.69% of the stock is 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.