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

Sunrun (NASDAQ:RUN) had its target price decreased by Barclays from $18.00 to $15.00 in a report issued on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the energy company’s stock.

Other research analysts have also issued reports about the stock. UBS Group upgraded shares of Sunrun from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $17.00 in a research report on Friday, January 10th. Morgan Stanley dropped their target price on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. BNP Paribas raised Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target for the company in a research report on Tuesday, January 7th. Susquehanna decreased their target price on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research report on Wednesday, October 16th. Finally, Truist Financial restated a “hold” rating and set a $12.00 price target (down previously from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.36.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $9.26 on Tuesday. The firm’s 50 day moving average price is $10.22 and its 200-day moving average price is $14.46. 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 stock has a market capitalization of $2.08 billion, a PE ratio of -5.09 and a beta of 2.58. Sunrun has a twelve month low of $8.22 and a twelve month high of $22.26.

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

Insider Buying and Selling at Sunrun

In other news, CEO Mary Powell sold 4,350 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 560,321 shares of the company’s stock, valued at $6,264,388.78. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Danny Abajian sold 3,734 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 value of $41,746.12. Following the completion of the transaction, the chief financial officer now owns 257,969 shares of the company’s stock, valued at $2,884,093.42. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 164,830 shares of company stock worth $1,614,147. 3.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

A number of large investors have recently modified their holdings of RUN. Greenvale Capital LLP grew its stake in Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after buying an additional 2,000,000 shares during the period. State Street Corp lifted its holdings in shares of Sunrun by 0.6% during the 3rd quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock valued at $165,424,000 after acquiring an additional 54,329 shares in the last quarter. Geode Capital Management LLC boosted its position in Sunrun by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock worth $96,019,000 after purchasing an additional 30,549 shares during the period. Erste Asset Management GmbH acquired a new stake in Sunrun in the 3rd quarter valued at $76,152,000. Finally, FMR LLC raised its position in Sunrun by 83.6% in the third quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock valued at $61,952,000 after purchasing an additional 1,562,163 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.