Susquehanna Trims Sunrun (NASDAQ:RUN) Target Price to $23.00

Sunrun (NASDAQ:RUN) had its price target reduced by Susquehanna from $24.00 to $23.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a positive rating on the energy company’s stock.

RUN has been the subject of several other research reports. Oppenheimer raised their price objective on shares of Sunrun from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Barclays raised their price target on shares of Sunrun from $16.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. BMO Capital Markets upped their price objective on Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Piper Sandler lifted their target price on Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI dropped their target price on Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.64.

Sunrun Stock Performance

Shares of NASDAQ:RUN opened at $14.61 on Wednesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31. The business’s fifty day moving average price is $18.38 and its two-hundred day moving average price is $15.16. Sunrun has a fifty-two week low of $8.43 and a fifty-two week high of $22.26. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of -2.29 and a beta of 2.58.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.88. The firm had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The firm’s quarterly revenue was down 11.2% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. As a group, analysts predict that Sunrun will post -0.17 EPS for the current fiscal year.

Insider Transactions at Sunrun

In other news, insider Jeanna Steele sold 24,161 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $19.24, for a total transaction of $464,857.64. Following the completion of the transaction, the insider now directly owns 310,617 shares of the company’s stock, valued at $5,976,271.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jeanna Steele sold 24,161 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $19.24, for a total value of $464,857.64. Following the completion of the transaction, the insider now directly owns 310,617 shares of the company’s stock, valued at approximately $5,976,271.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynn Michelle Jurich sold 1,937 shares of Sunrun stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $18.23, for a total value of $35,311.51. Following the transaction, the director now owns 1,242,446 shares of the company’s stock, valued at $22,649,790.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 180,001 shares of company stock valued at $3,220,345 over the last three months. Company insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RUN. EP Wealth Advisors LLC lifted its holdings in shares of Sunrun by 20.4% during the fourth quarter. EP Wealth Advisors LLC now owns 21,364 shares of the energy company’s stock worth $419,000 after purchasing an additional 3,624 shares during the period. Wellington Management Group LLP acquired a new position in Sunrun during the 4th quarter worth about $15,935,000. Vanguard Group Inc. grew its position in shares of Sunrun by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 19,581,958 shares of the energy company’s stock valued at $384,394,000 after buying an additional 176,861 shares during the last quarter. Perpetual Ltd increased its stake in shares of Sunrun by 31.1% in the first quarter. Perpetual Ltd now owns 59,028 shares of the energy company’s stock valued at $773,000 after buying an additional 14,000 shares during the period. Finally, Register Financial Advisors LLC bought a new position in shares of Sunrun during the first quarter worth about $92,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.