The Goldman Sachs Group Cuts Sunrun (NASDAQ:RUN) Price Target to $17.00

Sunrun (NASDAQ:RUN) had its target price trimmed by The Goldman Sachs Group from $19.00 to $17.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

Several other brokerages have also commented on RUN. Roth Mkm cut their price objective on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 8th. Guggenheim lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company dropped their price objective on shares of Sunrun from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Glj Research reissued a “sell” rating and issued a $7.78 target price on shares of Sunrun in a research note on Thursday, November 7th. Finally, Oppenheimer dropped their price target on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.21.

Sunrun Price Performance

Sunrun stock opened at $9.13 on Tuesday. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -5.02 and a beta of 2.54. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The business has a 50-day simple moving average of $12.09 and a 200 day simple moving average of $15.12. Sunrun has a 52 week low of $9.08 and a 52 week high of $22.26.

Insider Activity at Sunrun

In other Sunrun news, CEO Mary Powell sold 6,415 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.34, for a total value of $104,821.10. Following the completion of the transaction, the chief executive officer now owns 569,368 shares in the company, valued at approximately $9,303,473.12. This represents a 1.11 % 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. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the transaction, the director now directly owns 1,041,753 shares of the company’s stock, valued at approximately $9,813,313.26. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 169,691 shares of company stock worth $2,011,601 in the last 90 days. Company insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several institutional investors and hedge funds have recently made changes to their positions in the company. Erste Asset Management GmbH bought a new position in shares of Sunrun in the 3rd quarter worth approximately $76,152,000. Sylebra Capital LLC purchased a new stake in Sunrun during the second quarter valued at approximately $35,387,000. Greenvale Capital LLP raised its position in Sunrun by 20.5% in the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after acquiring an additional 2,000,000 shares during the period. FMR LLC boosted its stake in shares of Sunrun by 83.6% during the 3rd quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock worth $61,952,000 after acquiring an additional 1,562,163 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Sunrun by 113.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock valued at $45,426,000 after acquiring an additional 1,337,302 shares during the period. Institutional investors own 91.69% of the company’s stock.

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.