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

Sunrun (NASDAQ:RUN) had its price target cut by The Goldman Sachs Group from $19.00 to $17.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the energy company’s stock.

Several other brokerages have also issued reports on RUN. Morgan Stanley cut their target price on Sunrun from $39.00 to $26.00 and set an overweight rating for the company in a research note on Tuesday, October 17th. Susquehanna cut their target price on Sunrun from $26.00 to $21.00 and set a positive rating for the company in a research note on Thursday, November 2nd. Northland Securities lowered Sunrun from an outperform rating to a market perform rating and set a $12.00 target price for the company. in a research note on Thursday, November 2nd. Janney Montgomery Scott raised Sunrun from a neutral rating to a buy rating in a research note on Thursday, August 3rd. Finally, Guggenheim upped their target price on Sunrun from $35.00 to $36.00 and gave the stock a buy rating in a research note on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Sunrun currently has a consensus rating of Moderate Buy and an average target price of $25.27.

Sunrun Stock Down 5.1 %

Shares of NASDAQ RUN opened at $10.29 on Friday. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -1.87 and a beta of 2.45. The business has a 50-day moving average of $12.31 and a 200-day moving average of $16.02. The company has a current ratio of 1.36, a quick ratio of 0.91 and a debt-to-equity ratio of 1.57. Sunrun has a 12 month low of $8.43 and a 12 month high of $33.33.

Insider Activity at Sunrun

In related news, Director Lynn Michelle Jurich sold 4,178 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $14.37, for a total transaction of $60,037.86. Following the completion of the transaction, the director now owns 1,401,182 shares in the company, valued at $20,134,985.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Sunrun news, Director Lynn Michelle Jurich sold 4,178 shares of the stock in a transaction on 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 transaction, the director now owns 1,401,182 shares in the company, valued at $20,134,985.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Paul S. Dickson sold 2,476 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $15.15, for a total value of $37,511.40. Following the completion of the transaction, the executive now owns 310,185 shares of the company’s stock, valued at approximately $4,699,302.75. The disclosure for this sale can be found here. Insiders sold a total of 19,457 shares of company stock worth $287,987 over the last quarter. 3.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

Institutional investors have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. increased its holdings in shares of Sunrun by 3,750.0% during the first quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock valued at $47,000 after acquiring an additional 1,500 shares in the last quarter. RFP Financial Group LLC increased its holdings in shares of Sunrun by 153.8% during the second quarter. RFP Financial Group LLC now owns 1,650 shares of the energy company’s stock valued at $29,000 after acquiring an additional 1,000 shares in the last quarter. Hartree Partners LP bought a new position in shares of Sunrun during the second quarter valued at $32,000. International Assets Investment Management LLC bought a new position in shares of Sunrun during the third quarter valued at $26,000. Finally, Belpointe Asset Management LLC increased its holdings in shares of Sunrun by 735.2% during the first quarter. Belpointe Asset Management LLC now owns 2,113 shares of the energy company’s stock valued at $43,000 after acquiring an additional 1,860 shares in the last quarter. 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.