Truist Financial reiterated their hold rating on shares of Sunrun (NASDAQ:RUN – Free Report) in a research report released on Wednesday morning, Benzinga reports. Truist Financial currently has a $18.00 price objective on the energy company’s stock, up from their prior price objective of $12.00.
Other research analysts also recently issued research reports about the stock. Jefferies Financial Group cut their target price on shares of Sunrun from $32.00 to $26.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Piper Sandler boosted their price objective on shares of Sunrun from $20.00 to $23.00 and gave the stock an overweight rating in a research note on Wednesday. Morgan Stanley increased their target price on Sunrun from $24.00 to $29.00 and gave the company an overweight rating in a research report on Friday, June 14th. Susquehanna boosted their price target on Sunrun from $23.00 to $24.00 and gave the stock a positive rating in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. raised their price objective on Sunrun from $14.00 to $19.00 and gave the company an overweight rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $22.69.
Get Our Latest Stock Analysis on Sunrun
Sunrun Stock Performance
NASDAQ:RUN opened at $17.89 on Wednesday. The firm has a market capitalization of $3.97 billion, a PE ratio of -2.68 and a beta of 2.61. The stock’s fifty day moving average is $14.90 and its 200 day moving average is $13.34. Sunrun has a fifty-two week low of $8.43 and a fifty-two week high of $20.68. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.99 and a current ratio of 1.31.
Sunrun (NASDAQ:RUN – Get Free Report) last released its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. The business had revenue of $523.87 million for the quarter, compared to analyst estimates of $516.76 million. Sunrun had a negative return on equity of 2.43% and a negative net margin of 66.36%. The business’s revenue was down 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. On average, sell-side analysts anticipate that Sunrun will post -1.26 earnings per share for the current year.
Insiders Place Their Bets
In related news, insider Jeanna Steele sold 24,161 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $19.24, for a total value of $464,857.64. Following the transaction, the insider now directly owns 310,617 shares of the company’s stock, valued at approximately $5,976,271.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Jeanna Steele sold 24,161 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $19.24, for a total value of $464,857.64. Following the transaction, the insider now owns 310,617 shares in the company, valued at approximately $5,976,271.08. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Paul S. Dickson sold 2,486 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $14.43, for a total transaction of $35,872.98. Following the completion of the sale, the executive now owns 447,184 shares in the company, valued at approximately $6,452,865.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 279,873 shares of company stock valued at $4,171,119. Insiders own 3.76% of the company’s stock.
Institutional Trading of Sunrun
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Sunrun by 14.0% in the first quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock valued at $294,245,000 after acquiring an additional 2,743,148 shares during the period. Norges Bank purchased a new position in shares of Sunrun during the 4th quarter valued at approximately $23,186,000. Greenvale Capital LLP grew its position in Sunrun by 15.3% during the fourth quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock valued at $162,929,000 after buying an additional 1,100,000 shares during the period. Masters Capital Management LLC purchased a new position in Sunrun in the fourth quarter valued at $19,630,000. Finally, Robeco Schweiz AG raised its position in shares of Sunrun by 23.5% in the first quarter. Robeco Schweiz AG now owns 4,611,300 shares of the energy company’s stock worth $60,777,000 after acquiring an additional 876,000 shares during the period. 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.
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Source: defenseworld.net
