Sunrun (NASDAQ:RUN) Price Target Cut to $20.00 by Analysts at Oppenheimer

Sunrun (NASDAQ:RUN) had its target price cut by equities researchers at Oppenheimer from $22.00 to $20.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the energy company’s stock. Oppenheimer’s price objective would indicate a potential upside of 95.69% from the stock’s current price.

RUN has been the topic of a number of other reports. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research note on Friday, September 27th. UBS Group increased their price objective on shares of Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Morgan Stanley reiterated an “overweight” rating and set a $35.00 price objective on shares of Sunrun in a research note on Tuesday, September 24th. Jefferies Financial Group reduced their price objective on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.19.

Sunrun Stock Down 11.9 %

Shares of RUN stock traded down $1.38 on Friday, hitting $10.22. The stock had a trading volume of 8,185,338 shares, compared to its average volume of 11,907,479. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -1.60 and a beta of 2.61. The stock’s 50 day moving average is $16.80 and its 200-day moving average is $15.39. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66. Sunrun has a 52-week low of $8.82 and a 52-week high of $22.26.

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

Insider Transactions at Sunrun

In other news, CRO Paul S. Dickson sold 2,537 shares of the stock in a transaction that occurred on 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 sale, the executive now directly owns 427,883 shares of the company’s stock, valued at $7,800,307.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CRO Paul S. Dickson sold 4,017 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $65,677.95. Following the transaction, the executive now owns 423,866 shares of the company’s stock, valued at approximately $6,930,209.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Paul S. Dickson sold 2,537 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $18.23, for a total transaction of $46,249.51. Following the transaction, the executive now directly owns 427,883 shares in the company, valued at approximately $7,800,307.09. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 155,840 shares of company stock valued at $2,755,487 over the last three months. 3.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. Mirae Asset Global Investments Co. Ltd. raised 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 purchasing an additional 142,563 shares during the period. Symmetry Investments LP bought a new position in shares of Sunrun in the second quarter valued at approximately $1,205,000. Axxcess Wealth Management LLC bought a new position in shares of Sunrun in the first quarter valued at approximately $171,000. Assenagon Asset Management S.A. raised its position in shares of Sunrun by 207.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock valued at $24,843,000 after purchasing an additional 927,947 shares during the period. Finally, Friedenthal Financial bought a new position in shares of Sunrun in the second quarter valued at approximately $702,000. 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.