UBS Group Has Lowered Expectations for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its price objective dropped by equities research analysts at UBS Group from $18.00 to $14.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the energy company’s stock. UBS Group’s target price points to a potential upside of 21.21% from the stock’s previous close.

Several other research firms have also commented on RUN. Morgan Stanley reduced their price target on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Susquehanna cut their price objective on Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Wells Fargo & Company cut their price objective on Sunrun from $20.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Glj Research reiterated a “sell” rating and set a $7.78 price objective on shares of Sunrun in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $20.00 price objective on shares of Sunrun in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Sunrun has a consensus rating of “Hold” and a consensus price target of $19.28.

Sunrun Price Performance

NASDAQ RUN opened at $11.55 on Tuesday. Sunrun has a 52 week low of $9.23 and a 52 week high of $22.26. The firm has a market capitalization of $2.59 billion, a P/E ratio of -6.47 and a beta of 2.61. 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 company has a 50-day moving average price of $14.54 and a 200-day moving average price of $15.41.

Insider Activity at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $20.20, for a total value of $1,010,000.00. Following the completion of the sale, the director now directly owns 1,192,446 shares in the company, valued at $24,087,409.20. This trade represents a 4.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Danny Abajian sold 9,694 shares of Sunrun stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total value of $191,456.50. Following the sale, the chief financial officer now owns 278,260 shares of the company’s stock, valued at approximately $5,495,635. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 196,795 shares of company stock valued at $3,071,225. 3.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in Sunrun by 33.7% during the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock worth $26,385,000 after acquiring an additional 367,835 shares during the period. Symmetry Investments LP purchased a new position in Sunrun during the second quarter valued at approximately $1,205,000. Aigen Investment Management LP acquired a new stake in shares of Sunrun during the 3rd quarter valued at about $955,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Sunrun by 113.5% in 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 purchasing an additional 1,337,302 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Sunrun by 207.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock worth $24,843,000 after purchasing an additional 927,947 shares in 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.