Sunrun (NASDAQ:RUN) Price Target Cut to $22.00 by Analysts at JPMorgan Chase & Co.

Sunrun (NASDAQ:RUN) had its target price trimmed by JPMorgan Chase & Co. from $25.00 to $22.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the energy company’s stock.

A number of other research analysts also recently weighed in on RUN. Deutsche Bank Aktiengesellschaft reduced their target price on Sunrun from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, April 9th. Mizuho cut their price target on Sunrun from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, March 2nd. Loop Capital set a $12.00 price target on Sunrun in a research note on Tuesday, March 3rd. Glj Research cut their price target on Sunrun from $6.73 to $4.63 and set a “sell” rating on the stock in a research note on Thursday, March 26th. Finally, UBS Group cut their price target on Sunrun from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Twelve research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Sunrun currently has an average rating of “Moderate Buy” and a consensus target price of $19.19.

Sunrun Price Performance

RUN stock opened at $12.10 on Thursday. Sunrun has a fifty-two week low of $5.38 and a fifty-two week high of $22.44. The business’s 50 day moving average price is $14.79 and its two-hundred day moving average price is $17.57. The company has a debt-to-equity ratio of 3.38, a quick ratio of 1.27 and a current ratio of 1.66. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 7.08 and a beta of 2.37.

Sunrun (NASDAQ:RUN) last posted its earnings results on Thursday, February 26th. The energy company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.46. Sunrun had a return on equity of 11.72% and a net margin of 15.22%.The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $610.29 million. During the same quarter in the prior year, the business earned $1.41 EPS. The business’s revenue for the quarter was up 123.5% on a year-over-year basis. As a group, analysts forecast that Sunrun will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 127,673 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $13.25, for a total transaction of $1,691,667.25. Following the sale, the executive directly owned 707,126 shares in the company, valued at approximately $9,369,419.50. This trade represents a 15.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mary Powell sold 193,002 shares of the stock in a transaction on Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $2,557,276.50. Following the sale, the chief executive officer owned 934,282 shares in the company, valued at approximately $12,379,236.50. This represents a 17.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 879,894 shares of company stock worth $13,017,496. Insiders own 3.37% of the company’s stock.

Institutional Trading of Sunrun

Several institutional investors have recently added to or reduced their stakes in RUN. Contour Asset Management LLC purchased a new stake in Sunrun during the 4th quarter valued at $98,010,000. Norges Bank purchased a new stake in Sunrun during the 4th quarter valued at $62,169,000. Voloridge Investment Management LLC purchased a new stake in Sunrun during the 3rd quarter valued at $40,193,000. Robeco Schweiz AG purchased a new stake in Sunrun during the 3rd quarter valued at $36,969,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Sunrun by 132.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,821,106 shares of the energy company’s stock valued at $48,777,000 after purchasing an additional 1,609,803 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.