JPMorgan Chase & Co. Cuts Sunrun (NASDAQ:RUN) Price Target to $18.00

Sunrun (NASDAQ:RUN) had its target price lowered by JPMorgan Chase & Co. from $22.00 to $18.00 in a report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the energy company’s stock.

RUN has been the topic of several other research reports. Susquehanna dropped their target price on Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research report on Wednesday, October 16th. BNP Paribas upgraded shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group cut their price objective on Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. Truist Financial reissued a “hold” rating and issued a $12.00 price target (down previously from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. Finally, BMO Capital Markets reduced their target price on Sunrun from $20.00 to $11.00 and set a “market perform” rating on the stock in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.11.

Sunrun Stock Performance

Shares of RUN opened at $10.23 on Thursday. The stock has a 50 day moving average of $10.23 and a 200 day moving average of $14.55. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. Sunrun has a 12 month low of $8.22 and a 12 month high of $22.26. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -5.62 and a beta of 2.58.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Thursday, November 7th. The energy company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.21). The firm had revenue of $537.17 million during the quarter, compared to analysts’ expectations of $560.60 million. Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. During the same quarter in the previous year, the company posted $0.40 EPS. As a group, sell-side analysts forecast that Sunrun will post -0.41 earnings per share for the current year.

Insider Activity at Sunrun

In related news, CEO Mary Powell sold 4,350 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $48,633.00. Following the transaction, the chief executive officer now directly owns 560,321 shares of the company’s stock, valued at approximately $6,264,388.78. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $9.59, for a total value of $479,500.00. Following the completion of the transaction, the director now directly owns 991,753 shares of the company’s stock, valued at approximately $9,510,911.27. This represents a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,830 shares of company stock worth $1,614,147 over the last three months. Company insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several hedge funds and other institutional investors have recently bought and sold shares of RUN. Jennison Associates LLC raised its position in shares of Sunrun by 36.7% during the 4th quarter. Jennison Associates LLC now owns 61,498 shares of the energy company’s stock valued at $569,000 after buying an additional 16,497 shares during the period. Alterna Wealth Management Inc. acquired a new stake in shares of Sunrun during the fourth quarter valued at about $96,000. Swedbank AB lifted its holdings in shares of Sunrun by 12.8% in the 4th quarter. Swedbank AB now owns 218,911 shares of the energy company’s stock worth $2,025,000 after acquiring an additional 24,792 shares during the last quarter. Pacific Capital Wealth Advisors Inc. boosted its position in shares of Sunrun by 102.9% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 80,732 shares of the energy company’s stock worth $747,000 after purchasing an additional 40,942 shares during the period. Finally, Ridgecrest Wealth Partners LLC raised its position in Sunrun by 11.0% in the fourth quarter. Ridgecrest Wealth Partners LLC now owns 80,000 shares of the energy company’s stock valued at $740,000 after purchasing an additional 7,929 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.