Sunrun (NASDAQ:RUN) Price Target Cut to $14.00 by Analysts at UBS Group

Sunrun (NASDAQ:RUN) had its price objective trimmed by UBS Group from $18.00 to $14.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the energy company’s stock.

RUN has been the subject of a number of other reports. The Goldman Sachs Group reissued a “buy” rating and issued a $20.00 price target on shares of Sunrun in a report on Wednesday, September 25th. Oppenheimer cut their price target on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price target on shares of Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Truist Financial reissued a “hold” rating and issued a $12.00 price target (down from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. Finally, Susquehanna cut their price target on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.28.

Sunrun Stock Performance

RUN stock opened at $11.49 on Tuesday. The company has a market capitalization of $2.58 billion, a P/E ratio of -6.31 and a beta of 2.61. The company has a 50-day simple moving average of $14.72 and a 200 day simple moving average of $15.41. Sunrun has a fifty-two week low of $9.23 and a fifty-two week high of $22.26. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Insider Activity

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $9.94, for a total value of $497,000.00. Following the transaction, the director now owns 1,092,446 shares in the company, valued at approximately $10,858,913.24. This represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Danny Abajian sold 9,694 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total value of $191,456.50. Following the completion of the transaction, the chief financial officer now owns 278,260 shares in the company, valued at $5,495,635. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 196,795 shares of company stock worth $3,071,225 in the last 90 days. Company insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Sunrun in the third quarter worth approximately $44,000. Virtu Financial LLC bought a new stake in Sunrun during the third quarter worth approximately $482,000. TCW Group Inc. bought a new stake in Sunrun during the third quarter worth approximately $218,000. Geode Capital Management LLC boosted its position in Sunrun by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock worth $96,019,000 after purchasing an additional 30,549 shares during the period. Finally, MML Investors Services LLC boosted its position in Sunrun by 9.3% during the third quarter. MML Investors Services LLC now owns 43,313 shares of the energy company’s stock worth $782,000 after purchasing an additional 3,689 shares during the period. Institutional investors and hedge funds 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.