Wells Fargo & Company Lowers Sunrun (NASDAQ:RUN) Price Target to $12.00

Sunrun (NASDAQ:RUN) had its price target cut by research analysts at Wells Fargo & Company from $15.00 to $12.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 13.53% from the company’s current price.

RUN has been the topic of several other reports. Susquehanna reduced their price objective on Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. UBS Group reduced their price target on shares of Sunrun from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Barclays lowered their price objective on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Roth Mkm cut their target price on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, 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 report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.16.

Sunrun Price Performance

Shares of NASDAQ RUN traded down $0.80 during midday trading on Wednesday, reaching $10.57. The company’s stock had a trading volume of 1,814,147 shares, compared to its average volume of 7,138,684. The company has a market cap of $2.37 billion, a P/E ratio of -5.81 and a beta of 2.58. Sunrun has a fifty-two week low of $9.01 and a fifty-two week high of $22.26. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The business’s 50 day moving average price is $10.92 and its two-hundred day moving average price is $14.81.

Insiders Place Their Bets

In related news, CRO Paul S. Dickson sold 2,968 shares of the business’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 $33,182.24. Following the transaction, the executive now directly owns 418,492 shares of the company’s stock, valued at approximately $4,678,740.56. The trade was a 0.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Danny Abajian sold 3,734 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $41,746.12. Following the completion of the transaction, the chief financial officer now owns 257,969 shares in the company, valued at approximately $2,884,093.42. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,830 shares of company stock valued at $1,864,647. Corporate insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Greenvale Capital LLP lifted its position in shares of Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after acquiring an additional 2,000,000 shares in the last quarter. State Street Corp raised its stake in shares of Sunrun by 0.6% during the 3rd quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock valued at $165,424,000 after purchasing an additional 54,329 shares during the period. Geode Capital Management LLC lifted its holdings in Sunrun by 0.6% during the 3rd 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in Sunrun by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock valued at $52,025,000 after buying an additional 729,633 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Sunrun during the third quarter valued at about $76,152,000. 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.