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

Sunrun (NASDAQ:RUN) had its target price reduced by equities research analysts at Wells Fargo & Company from $20.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 50.30% from the stock’s current price.

RUN has been the topic of a number of other reports. Oppenheimer decreased their target price on Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday. Guggenheim cut Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday. Piper Sandler boosted their price objective on Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Morgan Stanley reissued an “overweight” rating and set a $35.00 price objective on shares of Sunrun in a research note on Tuesday, September 24th. Finally, BNP Paribas cut Sunrun from an “outperform” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Sunrun currently has an average rating of “Hold” and a consensus target price of $21.33.

Sunrun Price Performance

Shares of NASDAQ:RUN traded down $1.62 during mid-day trading on Friday, reaching $9.98. The stock had a trading volume of 16,595,598 shares, compared to its average volume of 11,941,496. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84. The company has a market cap 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 business’s 50 day moving average price is $16.80 and its 200 day moving average price is $15.39.

Sunrun (NASDAQ:RUN) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. The company had revenue of $523.87 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. Research analysts expect that Sunrun will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Sunrun news, CEO Mary Powell sold 2,148 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.79, for a total transaction of $40,360.92. Following the completion of the sale, the chief executive officer now owns 579,193 shares in the company, valued at $10,883,036.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sunrun news, CEO Mary Powell sold 2,148 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.79, for a total transaction of $40,360.92. Following the completion of the sale, the chief executive officer now owns 579,193 shares in the company, valued at $10,883,036.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Alan Risk sold 9,045 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $20.04, for a total value of $181,261.80. Following the sale, the director now owns 334,761 shares of the company’s stock, valued at approximately $6,708,610.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,840 shares of company stock valued at $2,755,487 over the last quarter. 3.77% of the stock is owned by corporate insiders.

Institutional Trading of Sunrun

Hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its holdings in shares of 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 valued at $31,000 after purchasing an additional 1,638 shares during the last quarter. Blue Trust Inc. raised its stake in Sunrun by 385.5% in the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after acquiring an additional 1,465 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new position in Sunrun in the 2nd quarter worth $36,000. CWM LLC raised its stake in Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after acquiring an additional 3,014 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Sunrun in the 2nd quarter worth $45,000. Hedge funds and other 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.