Sunrun (NASDAQ:RUN – Get Free Report) had its target price hoisted by equities researchers at Guggenheim from $35.00 to $36.00 in a research report issued on Thursday, MarketBeat reports. The brokerage presently has a “buy” rating on the energy company’s stock. Guggenheim’s price objective would indicate a potential upside of 179.29% from the company’s current price.
A number of other equities analysts have also issued reports on the stock. KeyCorp lowered their target price on shares of Sunrun from $27.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, August 17th. Janney Montgomery Scott upgraded shares of Sunrun from a “neutral” rating to a “buy” rating in a research report on Thursday, August 3rd. Citigroup upgraded shares of Sunrun from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $25.00 to $21.00 in a research report on Wednesday, August 30th. Piper Sandler raised their target price on shares of Sunrun from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, August 3rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Sunrun from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, September 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.70.
Get Our Latest Research Report on RUN
Sunrun Stock Down 4.6 %
Sunrun (NASDAQ:RUN – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The energy company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.59. Sunrun had a net margin of 3.66% and a return on equity of 1.18%. The company had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $627.73 million. During the same quarter last year, the company earned ($0.06) earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts predict that Sunrun will post -0.88 earnings per share for the current fiscal year.
Insider Activity at Sunrun
In related news, Director Lynn Michelle Jurich sold 4,178 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $14.37, for a total value of $60,037.86. Following the completion of the transaction, the director now owns 1,401,182 shares of the company’s stock, valued at approximately $20,134,985.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sunrun news, Director Lynn Michelle Jurich sold 4,178 shares of Sunrun stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $14.37, for a total value of $60,037.86. Following the completion of the sale, the director now owns 1,401,182 shares in the company, valued at approximately $20,134,985.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mary Powell sold 1,744 shares of Sunrun stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $15.79, for a total value of $27,537.76. Following the completion of the sale, the chief executive officer now owns 410,900 shares of the company’s stock, valued at approximately $6,488,111. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,042 shares of company stock valued at $881,731. 3.76% of the stock is owned by insiders.
Institutional Trading of Sunrun
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RFP Financial Group LLC grew its holdings in shares of Sunrun by 153.8% during the 2nd quarter. RFP Financial Group LLC now owns 1,650 shares of the energy company’s stock worth $29,000 after purchasing an additional 1,000 shares during the period. Hartree Partners LP purchased a new position in Sunrun in the 2nd quarter worth approximately $32,000. Belpointe Asset Management LLC boosted its holdings in Sunrun by 735.2% in the 1st quarter. Belpointe Asset Management LLC now owns 2,113 shares of the energy company’s stock worth $43,000 after acquiring an additional 1,860 shares during the period. Salem Investment Counselors Inc. boosted its holdings in Sunrun by 3,750.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock worth $47,000 after acquiring an additional 1,500 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in Sunrun by 40.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,075 shares of the energy company’s stock worth $62,000 after acquiring an additional 879 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.
About Sunrun
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.
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