Sunrun (NASDAQ:RUN) Given New $12.00 Price Target at JPMorgan Chase & Co.

Sunrun (NASDAQ:RUN) had its target price cut by equities researchers at JPMorgan Chase & Co. from $14.00 to $12.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the energy company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 74.17% from the company’s current price.

Other research analysts also recently issued reports about the company. Susquehanna reduced their target price on Sunrun from $15.00 to $13.00 and set a “positive” rating on the stock in a report on Wednesday, October 14th. Barclays decreased their price target on Sunrun from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, October 9th. Citigroup dropped their price target on Sunrun from $16.00 to $14.00 and set a “buy” rating for the company in a report on Friday, October 9th. Weiss Ratings upgraded Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. Finally, Roth Capital reissued a “buy” rating on shares of Sunrun in a research note on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.39.

Sunrun Price Performance

Shares of Sunrun stock traded down $0.41 during mid-day trading on Monday, reaching $6.89. 8,287,719 shares of the stock were exchanged, compared to its average volume of 9,258,108. Sunrun has a fifty-two week low of $6.87 and a fifty-two week high of $21.95. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 4.66 and a beta of 2.44. The firm has a 50-day simple moving average of $8.57 and a 200 day simple moving average of $11.35. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. The firm had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The company’s revenue for the quarter was up 52.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 earnings per share. On average, sell-side analysts predict that Sunrun will post 1.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mary Powell sold 24,335 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total value of $188,839.60. Following the transaction, the chief executive officer owned 1,087,200 shares in the company, valued at $8,436,672. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul S. Dickson sold 15,837 shares of Sunrun stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total value of $122,895.12. Following the completion of the sale, the executive owned 823,702 shares of the company’s stock, valued at approximately $6,391,927.52. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 118,719 shares of company stock worth $1,031,277. 3.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sunrun in the 4th quarter valued at $27,000. Allworth Financial LP bought a new stake in shares of Sunrun in the 2nd quarter valued at $25,000. Summit Securities Group LLC acquired a new stake in Sunrun during the 1st quarter worth $36,000. Nykredit A S acquired a new stake in Sunrun during the 2nd quarter worth $78,000. Finally, Leonteq Securities AG raised its stake in Sunrun by 26.8% during the 1st quarter. Leonteq Securities AG now owns 6,281 shares of the energy company’s stock worth $85,000 after buying an additional 1,327 shares during the period. 91.69% of the stock is currently owned by institutional investors.

About Sunrun

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.