UBS Group Cuts Sunrun (NASDAQ:RUN) Price Target to $15.00

Sunrun (NASDAQ:RUN) had its price target lowered by UBS Group from $17.00 to $15.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Oppenheimer lowered their price target on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, November 8th. StockNews.com raised shares of Sunrun to a “sell” rating in a report on Friday, December 20th. Truist Financial reaffirmed a “hold” rating and set a $9.00 price target (down from $12.00) on shares of Sunrun in a report on Monday. Finally, The Goldman Sachs Group lowered their price target on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Sunrun presently has a consensus rating of “Moderate Buy” and an average price target of $17.51.

Sunrun Price Performance

RUN opened at $6.87 on Tuesday. The company has a fifty day simple moving average of $9.07 and a 200 day simple moving average of $12.81. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -3.77 and a beta of 2.59. Sunrun has a twelve month low of $5.93 and a twelve month high of $22.26. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Insider Transactions at Sunrun

In related news, CRO Paul S. Dickson sold 2,968 shares of Sunrun stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $33,182.24. Following the sale, the executive now directly owns 418,492 shares in the company, valued at $4,678,740.56. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward Harris Fenster acquired 150,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now owns 1,358,182 shares in the company, valued at $9,235,637.60. The trade was a 12.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 163,064 shares of company stock worth $1,551,556. 3.77% of the stock is currently owned by insiders.

Institutional Trading of Sunrun

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Sunrun by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company’s stock worth $219,679,000 after buying an additional 343,448 shares in the last quarter. Greenvale Capital LLP raised its position in shares of Sunrun by 50.3% during the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock worth $124,875,000 after buying an additional 4,516,793 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of Sunrun by 593.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock worth $111,263,000 after buying an additional 10,294,947 shares in the last quarter. State Street Corp raised its position 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 buying an additional 54,329 shares in the last quarter. Finally, Sylebra Capital LLC raised its position in shares of Sunrun by 124.0% during the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock worth $61,819,000 after buying an additional 3,699,405 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

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.