The Goldman Sachs Group Lowers Sunrun (NASDAQ:RUN) Price Target to $17.00

Sunrun (NASDAQ:RUN) had its price target cut by stock analysts at The Goldman Sachs Group from $19.00 to $17.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 85.79% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Truist Financial reaffirmed a “hold” rating and issued a $12.00 price target (down from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. Oppenheimer dropped their target price on Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group dropped their target price on Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company dropped their target price on Sunrun from $20.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Barclays dropped their target price on Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.12.

Sunrun Stock Performance

Shares of NASDAQ RUN opened at $9.15 on Tuesday. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -5.03 and a beta of 2.54. 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 1-year low of $9.13 and a 1-year high of $22.26. The stock’s 50-day moving average is $12.22 and its 200 day moving average is $15.16.

Insider Transactions at Sunrun

In other Sunrun news, CFO Danny Abajian sold 4,869 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.35, for a total transaction of $79,608.15. Following the transaction, the chief financial officer now directly owns 269,393 shares in the company, valued at $4,404,575.55. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeanna Steele sold 2,624 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.35, for a total value of $42,902.40. Following the transaction, the insider now owns 305,636 shares in the company, valued at $4,997,148.60. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,691 shares of company stock worth $1,540,601. 3.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. Victory Capital Management Inc. raised its position in Sunrun by 1.5% during the second quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock valued at $538,000 after acquiring an additional 691 shares in the last quarter. Creative Planning raised its position in Sunrun by 0.3% during the third quarter. Creative Planning now owns 290,259 shares of the energy company’s stock valued at $5,242,000 after acquiring an additional 784 shares in the last quarter. Van ECK Associates Corp raised its position in Sunrun by 1.8% during the third quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock valued at $905,000 after acquiring an additional 886 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Sunrun by 6.0% in the second quarter. Crossmark Global Holdings Inc. now owns 15,690 shares of the energy company’s stock valued at $186,000 after purchasing an additional 895 shares during the period. Finally, &PARTNERS grew its holdings in Sunrun by 1.6% in the second quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock valued at $698,000 after purchasing an additional 1,019 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

About Sunrun

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.