Sunrun (NASDAQ:RUN) PT Lowered to $36.00

Sunrun (NASDAQ:RUNGet Rating) had its target price dropped by equities research analysts at The Goldman Sachs Group from $40.00 to $36.00 in a report released on Monday, The Fly reports. The Goldman Sachs Group’s target price would suggest a potential upside of 51.07% from the stock’s current price.

A number of other research analysts have also weighed in on RUN. Morgan Stanley cut their price target on shares of Sunrun from $89.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, June 13th. Piper Sandler cut their price objective on shares of Sunrun from $41.00 to $39.00 in a research report on Thursday, April 21st. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, Sunrun currently has a consensus rating of “Buy” and a consensus price target of $55.08.

Sunrun stock traded up $2.70 during midday trading on Monday, hitting $23.83. 521,088 shares of the stock were exchanged, compared to its average volume of 7,426,242. The company has a fifty day simple moving average of $23.33 and a two-hundred day simple moving average of $27.60. Sunrun has a 52 week low of $16.80 and a 52 week high of $60.60. The stock has a market capitalization of $5.01 billion, a PE ratio of -34.04 and a beta of 2.22. The company has a quick ratio of 1.08, a current ratio of 1.60 and a debt-to-equity ratio of 1.03.

Sunrun (NASDAQ:RUNGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The energy company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.35). Sunrun had a negative return on equity of 1.64% and a negative net margin of 8.10%. The firm had revenue of $495.78 million for the quarter, compared to the consensus estimate of $401.60 million. During the same period in the previous year, the business earned ($0.11) EPS. The firm’s revenue was up 48.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Sunrun will post -1.11 EPS for the current fiscal year.

In related news, insider Edward Harris Fenster sold 21,753 shares of the company’s stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $31.10, for a total transaction of $676,518.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas Arthur Vonreichbauer sold 5,089 shares of the company’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $22.91, for a total transaction of $116,588.99. Following the sale, the chief financial officer now directly owns 231,502 shares of the company’s stock, valued at approximately $5,303,710.82. The disclosure for this sale can be found here. In the last three months, insiders sold 181,142 shares of company stock valued at $4,825,472. 4.29% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. CWM LLC lifted its holdings in shares of Sunrun by 512.3% in the first quarter. CWM LLC now owns 845 shares of the energy company’s stock worth $26,000 after acquiring an additional 707 shares during the last quarter. Clearstead Advisors LLC increased its stake in shares of Sunrun by 743.6% in the first quarter. Clearstead Advisors LLC now owns 928 shares of the energy company’s stock valued at $28,000 after buying an additional 818 shares during the period. Fifth Third Bancorp increased its stake in shares of Sunrun by 120.6% in the first quarter. Fifth Third Bancorp now owns 1,006 shares of the energy company’s stock valued at $31,000 after buying an additional 550 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Sunrun in the first quarter valued at approximately $32,000. Finally, Verity Asset Management Inc. acquired a new position in shares of Sunrun in the first quarter valued at approximately $35,000. 90.54% of the stock is owned by hedge funds and other institutional investors.

Sunrun Company Profile (Get Rating)

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.

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