Jefferies Financial Group Cuts Sunrun (NASDAQ:RUN) Price Target to $6.00

Sunrun (NASDAQ:RUN) had its price target lowered by Jefferies Financial Group from $7.00 to $6.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the energy company’s stock.

A number of other research analysts also recently issued reports on RUN. Wall Street Zen upgraded Sunrun to a “sell” rating in a report on Thursday, May 8th. TD Cowen decreased their price objective on Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, February 28th. Barclays decreased their price objective on Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Citigroup reiterated a “neutral” rating and set a $7.00 price objective on shares of Sunrun in a report on Thursday, April 17th. Finally, BNP Paribas downgraded Sunrun from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.15.

Sunrun Stock Up 7.2%

Shares of Sunrun stock opened at $7.34 on Wednesday. Sunrun has a 1 year low of $5.45 and a 1 year high of $22.26. The business has a 50-day moving average of $7.61 and a two-hundred day moving average of $8.64. The company has a market capitalization of $1.68 billion, a P/E ratio of -4.03 and a beta of 2.66. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.42. The company had revenue of $504.27 million during the quarter, compared to the consensus estimate of $487.29 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.40) earnings per share. As a group, equities analysts predict that Sunrun will post -0.43 EPS for the current year.

Insider Activity

In related news, CRO Paul S. Dickson sold 19,343 shares of Sunrun stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $130,371.82. Following the completion of the sale, the executive now directly owns 399,729 shares of the company’s stock, valued at approximately $2,694,173.46. This trade represents a 4.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Edward Harris Fenster purchased 150,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $6.80 per share, with a total value of $1,020,000.00. Following the completion of the acquisition, the director now owns 1,358,182 shares in the company, valued at $9,235,637.60. The trade was a 12.42% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 88,540 shares of company stock valued at $595,944 over the last three months. Insiders own 3.37% of the company’s stock.

Institutional Trading of Sunrun

Several hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its holdings in Sunrun by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company’s stock worth $229,000 after purchasing an additional 1,360 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Sunrun by 14.7% during the 1st quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company’s stock worth $72,000 after purchasing an additional 1,571 shares during the last quarter. Alterna Wealth Management Inc. lifted its holdings in Sunrun by 16.6% during the 1st quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company’s stock worth $71,000 after purchasing an additional 1,720 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in Sunrun by 6.8% during the 4th quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company’s stock worth $253,000 after purchasing an additional 1,749 shares during the last quarter. Finally, Xponance Inc. lifted its holdings in Sunrun by 13.2% during the 4th quarter. Xponance Inc. now owns 16,265 shares of the energy company’s stock worth $150,000 after purchasing an additional 1,895 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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.