Sunrun (NASDAQ:RUN) Price Target Cut to $13.00 by Analysts at Susquehanna

Sunrun (NASDAQ:RUN) had its price target reduced by research analysts at Susquehanna from $15.00 to $13.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “positive” rating on the energy company’s stock. Susquehanna’s price objective would suggest a potential upside of 66.88% from the company’s current price.

Several other equities analysts have also recently commented on the company. Wells Fargo & Company reduced their target price on Sunrun from $22.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, August 14th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $7.00 price target on shares of Sunrun in a report on Friday. The Goldman Sachs Group lowered their price target on Sunrun from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. Wall Street Zen downgraded Sunrun from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Citigroup dropped their price target on Sunrun from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Sunrun presently has a consensus rating of “Hold” and an average price target of $15.81.

Sunrun Stock Up 2.6%

RUN opened at $7.79 on Wednesday. The firm has a market capitalization of $1.88 billion, a P/E ratio of 5.26 and a beta of 2.44. Sunrun has a one year low of $7.26 and a one year high of $22.44. The company has a fifty day moving average price of $8.73 and a 200-day moving average price of $11.45. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%. The company had revenue of $869.99 million for the quarter, compared to the consensus estimate of $746.87 million. During the same quarter last year, the business posted $1.07 earnings per share. The firm’s revenue was up 52.8% compared to the same quarter last year. Equities research analysts expect that Sunrun will post 1.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeanna Steele sold 10,042 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total value of $77,925.92. Following the transaction, the insider owned 451,673 shares of the company’s stock, valued at $3,504,982.48. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul Dickson sold 15,837 shares of the stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total value of $122,895.12. Following the completion of the transaction, the executive directly owned 823,702 shares in the company, valued at approximately $6,391,927.52. This represents a 1.89% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 118,719 shares of company stock valued at $1,031,277 in the last three months. 3.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

Institutional investors have recently modified their holdings of the company. Leonteq Securities AG increased its stake in Sunrun by 26.8% in the 1st quarter. Leonteq Securities AG now owns 6,281 shares of the energy company’s stock worth $85,000 after acquiring an additional 1,327 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Sunrun during the 4th quarter valued at approximately $27,000. Van ECK Associates Corp boosted its position in shares of Sunrun by 3.7% during the 2nd quarter. Van ECK Associates Corp now owns 42,838 shares of the energy company’s stock valued at $573,000 after acquiring an additional 1,528 shares during the last quarter. Allworth Financial LP bought a new position in shares of Sunrun during the 2nd quarter valued at approximately $25,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Sunrun by 6.0% in the first quarter. Pictet Asset Management Holding SA now owns 37,646 shares of the energy company’s stock valued at $510,000 after purchasing an additional 2,137 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

Sunrun Company Profile

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.