Wells Fargo & Company Cuts Sunrun (NASDAQ:RUN) Price Target to $12.00

Sunrun (NASDAQ:RUN) had its target price cut by Wells Fargo & Company from $15.00 to $12.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

RUN has been the topic of a number of other reports. The Goldman Sachs Group dropped their target price on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Susquehanna cut their target price on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Glj Research reaffirmed a “sell” rating and set a $7.78 target price on shares of Sunrun in a report on Thursday, November 7th. Morgan Stanley cut their price target on Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Finally, Oppenheimer lowered their price objective 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, seven have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.31.

Sunrun Trading Down 6.6 %

NASDAQ:RUN opened at $10.04 on Wednesday. The company has a market cap of $2.25 billion, a PE ratio of -5.52 and a beta of 2.58. The business’s 50 day moving average is $10.78 and its two-hundred day moving average is $14.76. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. Sunrun has a 52 week low of $9.01 and a 52 week high of $22.26.

Insider Activity at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun 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 transaction, the director now directly owns 1,041,753 shares in the company, valued at $9,813,313.26. The trade was a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mary Powell sold 4,350 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $48,633.00. Following the sale, the chief executive officer now directly owns 560,321 shares of the company’s stock, valued at approximately $6,264,388.78. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,830 shares of company stock valued at $1,864,647 over the last 90 days. 3.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Sunrun by 1.5% during the second quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock valued at $538,000 after buying an additional 691 shares during the period. Creative Planning increased its holdings in shares of Sunrun by 0.3% in the 3rd quarter. Creative Planning now owns 290,259 shares of the energy company’s stock valued at $5,242,000 after purchasing an additional 784 shares during the period. Van ECK Associates Corp lifted its position in shares of Sunrun by 1.8% in the third quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock worth $905,000 after purchasing an additional 886 shares in the last quarter. United Services Automobile Association lifted its position in shares of Sunrun by 6.3% in the second quarter. United Services Automobile Association now owns 17,631 shares of the energy company’s stock worth $209,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after purchasing an additional 1,465 shares in 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.