Sunrun (NASDAQ:RUN) Price Target Cut to $6.00 by Analysts at Jefferies Financial Group

Sunrun (NASDAQ:RUN) had its price objective reduced by equities research analysts at Jefferies Financial Group from $7.00 to $6.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the energy company’s stock. Jefferies Financial Group’s price target indicates a potential downside of 16.55% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. BNP Paribas Exane cut Sunrun from an “outperform” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research report on Thursday, May 22nd. Susquehanna cut their price objective on Sunrun from $13.00 to $10.00 and set a “positive” rating for the company in a report on Monday, April 14th. Royal Bank of Canada cut their price objective on Sunrun from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Roth Capital set a $20.00 price objective on Sunrun in a report on Friday, February 28th. Finally, BMO Capital Markets lowered Sunrun from a “hold” rating to a “strong sell” rating and cut their price objective for the stock from $9.00 to $4.00 in a report on Thursday, May 22nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.38.

Sunrun Trading Up 4.5%

Shares of RUN opened at $7.19 on Wednesday. The business’s 50-day moving average price is $7.58 and its 200-day moving average price is $8.69. Sunrun has a twelve month low of $5.45 and a twelve month high of $22.26. The stock has a market cap of $1.64 billion, a PE ratio of -3.95 and a beta of 2.66. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.42. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The firm had revenue of $504.27 million for the quarter, compared to analysts’ expectations of $487.29 million. During the same period in the prior year, the business posted ($0.40) earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. On average, equities analysts forecast that Sunrun will post -0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeanna Steele sold 9,942 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $67,009.08. Following the completion of the sale, the insider now owns 291,238 shares of the company’s stock, valued at approximately $1,962,944.12. This represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward Harris Fenster acquired 150,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $6.80 per share, with a total value of $1,020,000.00. Following the purchase, the director now owns 1,358,182 shares of the company’s stock, valued at approximately $9,235,637.60. This trade represents a 12.42% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 88,540 shares of company stock valued at $595,944 over the last quarter. 3.37% of the stock is owned by corporate insiders.

Institutional Trading of Sunrun

A number of institutional investors have recently made changes to their positions in RUN. Alyeska Investment Group L.P. boosted its stake in shares of Sunrun by 593.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock valued at $111,263,000 after purchasing an additional 10,294,947 shares during the period. Greenvale Capital LLP raised its holdings in shares of Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock valued at $124,875,000 after acquiring an additional 4,516,793 shares in the last quarter. Sylebra Capital LLC raised its holdings in shares of Sunrun by 124.0% during the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock valued at $61,819,000 after acquiring an additional 3,699,405 shares in the last quarter. Norges Bank bought a new position in shares of Sunrun during the fourth quarter valued at approximately $31,022,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Sunrun during the fourth quarter valued at approximately $18,500,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.