The Goldman Sachs Group Lowers Sunrun (NASDAQ:RUN) Price Target to $15.00

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

Several other equities analysts have also commented on the stock. Roth Mkm decreased their price objective on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 8th. TD Cowen decreased their price objective on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, February 28th. UBS Group upgraded shares of Sunrun from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $17.00 in a report on Friday, January 10th. Guggenheim lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Finally, Piper Sandler lowered shares of Sunrun from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $11.00 in a report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Sunrun has a consensus rating of “Moderate Buy” and an average target price of $17.51.

Sunrun Stock Performance

Shares of RUN stock opened at $6.90 on Monday. The firm’s 50 day moving average price is $9.13 and its 200-day moving average price is $12.85. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. Sunrun has a one year low of $5.93 and a one year high of $22.26. The firm has a market cap of $1.55 billion, a P/E ratio of -3.79 and a beta of 2.59.

Insider Activity

In related news, Director Edward Harris Fenster bought 150,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $6.80 per share, with a total value of $1,020,000.00. Following the transaction, the director now directly owns 1,358,182 shares of the company’s stock, valued at approximately $9,235,637.60. This represents a 12.42 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Paul S. Dickson sold 2,968 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $33,182.24. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale 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 corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Sunrun by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company’s stock valued at $219,679,000 after buying an additional 343,448 shares during the last quarter. Greenvale Capital LLP grew its position in 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 purchasing an additional 4,516,793 shares during the last quarter. Alyeska Investment Group L.P. grew its position in 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 purchasing an additional 10,294,947 shares during the last quarter. State Street Corp grew its position in 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 purchasing an additional 54,329 shares during the last quarter. Finally, Sylebra Capital LLC grew its position in 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 purchasing an additional 3,699,405 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.