Sunrun (NASDAQ:RUN) Price Target Cut to $4.63 by Analysts at Glj Research

Sunrun (NASDAQ:RUN) had its price target decreased by stock analysts at Glj Research from $6.73 to $4.63 in a report released on Thursday,Benzinga reports. The firm currently has a “sell” rating on the energy company’s stock. Glj Research’s price target indicates a potential downside of 62.62% from the stock’s previous close.

Several other brokerages have also recently commented on RUN. Oppenheimer boosted their price target on Sunrun from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. The Goldman Sachs Group raised their price objective on shares of Sunrun from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Sunrun in a research note on Wednesday, December 17th. Weiss Ratings raised shares of Sunrun from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Finally, Jefferies Financial Group downgraded shares of Sunrun from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.58.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $12.39 on Thursday. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 7.24 and a beta of 2.43. Sunrun has a 1 year low of $5.38 and a 1 year high of $22.44. The company has a current ratio of 1.66, a quick ratio of 1.27 and a debt-to-equity ratio of 3.38. The business has a fifty day simple moving average of $16.61 and a 200 day simple moving average of $17.93.

Sunrun (NASDAQ:RUN) last issued its earnings results on Thursday, February 26th. The energy company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.46. Sunrun had a return on equity of 11.72% and a net margin of 15.22%.The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $610.29 million. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business’s quarterly revenue was up 123.5% compared to the same quarter last year. As a group, sell-side analysts predict that Sunrun will post -0.43 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In other news, CAO Maria Barak sold 1,630 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $18.55, for a total value of $30,236.50. Following the completion of the sale, the chief accounting officer directly owned 85,643 shares in the company, valued at approximately $1,588,677.65. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lynn Michelle Jurich sold 55,507 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $12.68, for a total transaction of $703,828.76. Following the sale, the director directly owned 608,397 shares of the company’s stock, valued at approximately $7,714,473.96. This represents a 8.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 366,432 shares of company stock worth $6,605,895. 3.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Salomon & Ludwin LLC grew its position in shares of Sunrun by 49.2% in the fourth quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company’s stock valued at $31,000 after purchasing an additional 558 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Sunrun by 59.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after purchasing an additional 564 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Sunrun by 3.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 17,481 shares of the energy company’s stock worth $322,000 after purchasing an additional 565 shares during the last quarter. Sage Rhino Capital LLC boosted its stake in Sunrun by 5.2% during the 4th quarter. Sage Rhino Capital LLC now owns 11,468 shares of the energy company’s stock valued at $211,000 after purchasing an additional 572 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Sunrun by 3.5% during the 3rd quarter. GAMMA Investing LLC now owns 17,971 shares of the energy company’s stock valued at $311,000 after purchasing an additional 607 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.