JPMorgan Chase & Co. Has Lowered Expectations for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $22.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 109.91% from the company’s current price.

Other equities analysts have also issued research reports about the company. Guggenheim lowered Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Oppenheimer cut their price target on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Glj Research reiterated a “sell” rating and set a $7.78 price objective on shares of Sunrun in a report on Thursday, November 7th. Roth Mkm dropped their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Barclays lowered their price target on Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.11.

Sunrun Trading Up 1.4 %

Shares of NASDAQ:RUN traded up $0.12 during trading on Thursday, reaching $8.58. 3,793,183 shares of the company were exchanged, compared to its average volume of 10,095,172. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The firm has a market capitalization of $1.92 billion, a PE ratio of -4.71 and a beta of 2.58. The business’s fifty day simple moving average is $10.25 and its 200-day simple moving average is $14.60. Sunrun has a 12-month low of $8.22 and a 12-month high of $22.26.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Thursday, November 7th. The energy company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.21). The firm had revenue of $537.17 million for the quarter, compared to analysts’ expectations of $560.60 million. Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. During the same quarter in the prior year, the business posted $0.40 EPS. On average, research analysts anticipate that Sunrun will post -0.41 EPS for the current year.

Insider Buying and Selling at Sunrun

In other news, CEO Mary Powell sold 4,350 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $48,633.00. Following the completion of the transaction, the chief executive officer now owns 560,321 shares of the company’s stock, valued at approximately $6,264,388.78. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $9.94, for a total transaction of $497,000.00. Following the sale, the director now directly owns 1,092,446 shares in the company, valued at approximately $10,858,913.24. The trade was a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,830 shares of company stock worth $1,614,147 in the last three months. 3.77% of the stock is owned by corporate insiders.

Institutional Trading of Sunrun

Several hedge funds have recently modified their holdings of RUN. International Assets Investment Management LLC increased its holdings in Sunrun by 1,706.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after purchasing an additional 1,638 shares during the period. Blue Trust Inc. increased its position in shares of Sunrun by 385.5% in the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after purchasing an additional 1,465 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sunrun in the 3rd quarter valued at $44,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Sunrun during the 4th quarter worth $56,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Sunrun during the fourth quarter worth $94,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.