The Goldman Sachs Group Lowers Sunrun (NASDAQ:RUN) Price Target to $17.00

Sunrun (NASDAQ:RUN) had its price objective reduced by equities research analysts at The Goldman Sachs Group from $19.00 to $17.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 70.17% from the stock’s current price.

Other analysts have also issued research reports about the stock. Wells Fargo & Company lowered their price objective on shares of Sunrun from $20.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Barclays lowered their price objective on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Guggenheim lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Jefferies Financial Group lowered their price objective on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, Roth Mkm reduced their target price on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.12.

Sunrun Stock Down 1.3 %

RUN opened at $9.99 on Tuesday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The company’s 50-day moving average is $12.50 and its 200 day moving average is $15.24. Sunrun has a fifty-two week low of $9.23 and a fifty-two week high of $22.26. The firm has a market capitalization of $2.24 billion, a P/E ratio of -5.49 and a beta of 2.54.

Insider Buying and Selling at Sunrun

In related news, insider Jeanna Steele sold 2,624 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $42,902.40. Following the completion of the sale, the insider now directly owns 305,636 shares in the company, valued at $4,997,148.60. This represents a 0.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the sale, the director now owns 1,192,446 shares of the company’s stock, valued at $24,087,409.20. This represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 169,691 shares of company stock worth $2,550,601 over the last three months. 3.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RUN. Greenvale Capital LLP grew its position in shares of Sunrun by 20.5% in the 2nd 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 grew its position in shares of Sunrun by 0.6% in the 3rd quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock worth $165,424,000 after buying an additional 54,329 shares during the period. Geode Capital Management LLC grew its position in shares of Sunrun by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock worth $96,019,000 after buying an additional 30,549 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Sunrun by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock worth $52,025,000 after buying an additional 729,633 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in shares of Sunrun in the 3rd quarter worth about $76,152,000. 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.