Sunrun (NASDAQ:RUN) Price Target Raised to $18.00

Sunrun (NASDAQ:RUN) had its price objective raised by UBS Group from $14.00 to $18.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the energy company’s stock.

Several other research firms have also weighed in on RUN. Truist Financial reissued a hold rating and set a $18.00 price target (up from $12.00) on shares of Sunrun in a research report on Wednesday. Morgan Stanley upped their price target on Sunrun from $24.00 to $29.00 and gave the company an overweight rating in a research report on Friday, June 14th. Susquehanna upped their price target on Sunrun from $23.00 to $24.00 and gave the company a positive rating in a research report on Monday, July 15th. BMO Capital Markets upped their price target on Sunrun from $17.00 to $20.00 and gave the company a market perform rating in a research report on Wednesday. Finally, Evercore ISI dropped their price target on Sunrun from $42.00 to $38.00 and set an outperform rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Sunrun presently has an average rating of Moderate Buy and an average price target of $22.69.

Sunrun Trading Down 5.0 %

Shares of NASDAQ RUN traded down $0.94 during mid-day trading on Wednesday, hitting $17.89. 12,009,536 shares of the company traded hands, compared to its average volume of 14,786,885. Sunrun has a 1 year low of $8.43 and a 1 year high of $20.68. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -2.68 and a beta of 2.61. The company has a quick ratio of 0.99, a current ratio of 1.31 and a debt-to-equity ratio of 1.84. The business has a 50 day moving average of $14.90 and a two-hundred day moving average of $13.34.

Sunrun (NASDAQ:RUN) last announced its earnings results on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, beating the consensus estimate of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.43% and a negative net margin of 66.36%. The business had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. During the same period in the prior year, the business posted $0.25 earnings per share. Sunrun’s revenue was down 11.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Sunrun will post -1.26 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mary Powell sold 1,741 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $14.86, for a total transaction of $25,871.26. Following the transaction, the chief executive officer now owns 589,927 shares of the company’s stock, valued at approximately $8,766,315.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Jeanna Steele sold 24,161 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $19.24, for a total transaction of $464,857.64. Following the completion of the sale, the insider now owns 310,617 shares in the company, valued at approximately $5,976,271.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mary Powell sold 1,741 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $14.86, for a total value of $25,871.26. Following the sale, the chief executive officer now owns 589,927 shares of the company’s stock, valued at approximately $8,766,315.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,873 shares of company stock valued at $4,171,119. Insiders own 3.76% of the company’s stock.

Institutional Trading of Sunrun

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in shares of Sunrun by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock worth $52,025,000 after acquiring an additional 729,633 shares during the period. Redwood Wealth Management Group LLC bought a new stake in shares of Sunrun in the 2nd quarter worth approximately $56,000. Diversify Wealth Management LLC bought a new stake in shares of Sunrun in the 2nd quarter worth approximately $2,521,000. American Century Companies Inc. lifted its position in shares of Sunrun by 27.2% in the 2nd quarter. American Century Companies Inc. now owns 228,990 shares of the energy company’s stock worth $2,716,000 after acquiring an additional 49,007 shares during the period. Finally, United Services Automobile Association lifted its position in shares of Sunrun by 6.3% in the 2nd quarter. United Services Automobile Association now owns 17,631 shares of the energy company’s stock worth $209,000 after acquiring an additional 1,042 shares during the period. Institutional investors 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.