Sunrun (NASDAQ:RUN) Price Target Lowered to $18.00 at Susquehanna

Sunrun (NASDAQ:RUN) had its target price lowered by Susquehanna from $19.00 to $18.00 in a research report report published on Friday morning, Marketbeat reports. Susquehanna currently has a positive rating on the energy company’s stock.

A number of other brokerages also recently issued reports on RUN. TD Cowen lowered their price target on shares of Sunrun from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Glj Research reaffirmed a “sell” rating on shares of Sunrun in a research note on Wednesday, June 24th. UBS Group decreased their target price on shares of Sunrun from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Jefferies Financial Group lowered their target price on shares of Sunrun from $22.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, April 7th. Finally, Zacks Research downgraded shares of Sunrun from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Sunrun has an average rating of “Hold” and an average price target of $18.81.

Sunrun Stock Performance

NASDAQ RUN opened at $12.47 on Friday. The company’s 50 day moving average is $13.66 and its 200-day moving average is $15.26. Sunrun has a 12-month low of $9.01 and a 12-month high of $22.44. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44. The firm has a market cap of $2.97 billion, a P/E ratio of 5.85 and a beta of 2.32.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The business had revenue of $722.23 million for the quarter, compared to analysts’ expectations of $688.50 million. During the same quarter in the prior year, the firm posted $0.20 EPS. The firm’s quarterly revenue was up 43.2% on a year-over-year basis. Sell-side analysts predict that Sunrun will post 1.09 earnings per share for the current year.

Insider Activity

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $15.92, for a total value of $796,000.00. Following the completion of the sale, the director directly owned 459,091 shares in the company, valued at approximately $7,308,728.72. The trade was a 9.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Danny Abajian sold 16,495 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $217,569.05. Following the completion of the sale, the chief financial officer directly owned 420,318 shares of the company’s stock, valued at $5,543,994.42. This trade represents a 3.78% decrease in their position. 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 three months, insiders sold 223,045 shares of company stock valued at $3,081,335. Insiders own 3.55% of the company’s stock.

Institutional Trading of Sunrun

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Sunrun by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock valued at $88,375,000 after buying an additional 165,196 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Sunrun by 26.6% in the 4th quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock valued at $107,975,000 after acquiring an additional 1,231,628 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Sunrun by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock valued at $104,220,000 after acquiring an additional 205,627 shares during the period. Contour Asset Management LLC purchased a new stake in Sunrun during the 4th quarter valued at about $98,010,000. Finally, Voloridge Investment Management LLC grew its position in Sunrun by 47.3% during the 4th quarter. Voloridge Investment Management LLC now owns 3,425,297 shares of the energy company’s stock worth $63,025,000 after acquiring an additional 1,100,666 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Sunrun

Here are the key news stories impacting Sunrun this week:

• Positive Sentiment: Sunrun launched a distributed AI data center pilot that could let homeowners’ solar and battery systems support edge computing, creating a new business line beyond its core residential solar model. Article Title
• Positive Sentiment: Trading activity showed unusually heavy call option buying, suggesting some investors are betting the AI-related announcement could drive more upside in RUN. Article Title
• Positive Sentiment: Susquehanna trimmed its price target to $18 from $19 but kept a positive rating, which still implies meaningful upside from current levels. Article Title
• Neutral Sentiment: Media coverage around the AI data-center pilot has kept Sunrun in the spotlight, but some reports noted the news has not yet translated into a full stock re-rating. Article Title
• Negative Sentiment: Chief accounting officer Maria Barak sold 3,278 shares in a pre-arranged 10b5-1 transaction, adding to recent insider selling that may weigh on sentiment. Article Title
• Negative Sentiment: Glj Research reaffirmed a sell rating and set a $4.63 target, a sharply bearish call that signals substantial downside risk in the eyes of that firm. Article Title

Sunrun Company Profile

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.