JPMorgan Chase & Co. Has Lowered Expectations for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its target price dropped by JPMorgan Chase & Co. from $22.00 to $18.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 75.95% from the stock’s current price.

Several other equities research analysts have also recently commented on RUN. BMO Capital Markets dropped their target price on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday, November 11th. Truist Financial reiterated a “hold” rating and set a $12.00 target price (down previously from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. The Goldman Sachs Group lowered their target price on Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Susquehanna lowered their price objective on Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research report on Wednesday, October 16th. Finally, BNP Paribas upgraded shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target for the company in a research note on Tuesday, January 7th. 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. According to MarketBeat, Sunrun presently has an average rating of “Moderate Buy” and a consensus target price of $19.11.

Sunrun Stock Performance

Sunrun stock opened at $10.23 on Thursday. Sunrun has a 1-year low of $8.22 and a 1-year high of $22.26. The firm has a market cap of $2.29 billion, a P/E ratio of -5.62 and a beta of 2.58. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm has a 50-day moving average of $10.23 and a 200-day moving average of $14.54.

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

Insider Buying and Selling

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $9.94, for a total transaction of $497,000.00. Following the completion of the sale, the director now directly owns 1,092,446 shares in the company, valued at approximately $10,858,913.24. The trade was a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the chief executive officer now directly owns 560,321 shares of the company’s stock, valued at approximately $6,264,388.78. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,830 shares of company stock worth $1,614,147. 3.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings in Sunrun by 1,706.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,638 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,465 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Sunrun during the 3rd quarter valued at $44,000. Union Bancaire Privee UBP SA purchased a new position in shares of Sunrun during the 4th quarter valued at $56,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Sunrun in the 4th quarter worth $94,000. Institutional investors own 91.69% of the company’s stock.

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.