The Goldman Sachs Group Has Lowered Expectations for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its price objective dropped by The Goldman Sachs Group from $17.00 to $15.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the energy company’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 114.04% from the stock’s previous close.

RUN has been the topic of a number of other reports. Truist Financial reaffirmed a “hold” rating and issued a $12.00 target price (down from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. Glj Research reaffirmed a “sell” rating and set a $7.78 price objective on shares of Sunrun in a report on Thursday, November 7th. Wells Fargo & Company reduced their target price on Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Guggenheim lowered Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley reduced their price objective on Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, six have issued 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 $17.81.

Sunrun Price Performance

NASDAQ RUN traded down $0.24 during trading on Monday, reaching $7.01. The company’s stock had a trading volume of 1,257,391 shares, compared to its average volume of 10,038,242. The stock has a market capitalization of $1.57 billion, a PE ratio of -3.85 and a beta of 2.59. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The firm has a fifty day moving average of $9.28 and a 200 day moving average of $13.04. Sunrun has a one year low of $6.99 and a one year high of $22.26.

Insider Buying and Selling at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 2,968 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $33,182.24. Following the completion of the transaction, the executive now directly owns 418,492 shares in the company, valued at approximately $4,678,740.56. This represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the sale, the director now directly owns 1,041,753 shares in the company, valued at $9,813,313.26. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,064 shares of company stock worth $1,551,556. 3.77% of the stock is currently owned by company insiders.

Institutional Trading of Sunrun

Several large investors have recently bought and sold shares of RUN. Van ECK Associates Corp raised its position in shares of Sunrun by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock worth $905,000 after acquiring an additional 886 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Sunrun by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company’s stock worth $229,000 after purchasing an additional 1,360 shares in the last quarter. International Assets Investment Management LLC lifted its position in Sunrun by 1,706.3% during the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after buying an additional 1,638 shares during the period. Guggenheim Capital LLC boosted its holdings in shares of Sunrun by 6.8% during the 4th quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company’s stock valued at $253,000 after buying an additional 1,749 shares in the last quarter. Finally, Drive Wealth Management LLC boosted its holdings in shares of Sunrun by 4.5% during the 3rd quarter. Drive Wealth Management LLC now owns 43,327 shares of the energy company’s stock valued at $782,000 after buying an additional 1,884 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

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.