Jefferies Financial Group Cuts Sunrun (NASDAQ:RUN) Price Target to $17.00

Sunrun (NASDAQ:RUN) had its price target cut by Jefferies Financial Group from $19.00 to $17.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the energy company’s stock.

RUN has been the subject of a number of other reports. UBS Group raised Sunrun from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $17.00 in a research report on Friday, January 10th. Susquehanna reduced their price objective on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research report on Wednesday, October 16th. TD Cowen initiated coverage on Sunrun in a research note on Thursday, December 19th. They issued a “buy” rating and a $21.00 target price on the stock. Roth Mkm reduced their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Truist Financial reiterated a “hold” rating and set a $12.00 price target (down from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. Two 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.36.

Sunrun Price Performance

RUN stock opened at $9.42 on Tuesday. Sunrun has a 1 year low of $8.22 and a 1 year high of $22.26. The stock has a market capitalization of $2.11 billion, a PE ratio of -5.18 and a beta of 2.58. The company’s 50-day moving average is $10.19 and its 200-day moving average is $14.39. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

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

Insider Buying and Selling at Sunrun

In other news, CEO Mary Powell sold 4,350 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the completion of the transaction, the chief executive officer now directly owns 560,321 shares in the company, valued at $6,264,388.78. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $9.42, for a total value of $471,000.00. Following the completion of the sale, the director now owns 1,041,753 shares in the company, valued at $9,813,313.26. This trade represents a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,830 shares of company stock valued at $1,614,147 in the last quarter. 3.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Greenvale Capital LLP lifted its position in Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after purchasing an additional 2,000,000 shares during the last quarter. State Street Corp lifted its holdings in shares of Sunrun by 0.6% during the 3rd quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock worth $165,424,000 after acquiring an additional 54,329 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Sunrun by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock worth $96,019,000 after acquiring an additional 30,549 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Sunrun in the third quarter worth $76,152,000. Finally, FMR LLC increased its stake in Sunrun by 83.6% in the third quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock valued at $61,952,000 after acquiring an additional 1,562,163 shares during the last quarter. Hedge funds and other 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.