Sunrun (NASDAQ:RUN) PT Raised to $67.00

Sunrun (NASDAQ:RUNGet Rating) had its price objective raised by stock analysts at Evercore ISI from $64.00 to $67.00 in a research report issued on Thursday, The Fly reports. Evercore ISI’s price target would suggest a potential upside of 101.56% from the stock’s previous close.

A number of other equities analysts have also recently commented on RUN. Wells Fargo & Company initiated coverage on Sunrun in a report on Wednesday, June 29th. They issued an “equal weight” rating and a $27.00 target price for the company. Roth Capital dropped their target price on Sunrun from $42.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. JPMorgan Chase & Co. lifted their target price on Sunrun from $50.00 to $52.00 in a report on Wednesday, July 20th. Morgan Stanley dropped their target price on Sunrun from $89.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, June 13th. Finally, Piper Sandler lowered Sunrun from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $35.00 to $29.00 in a research note on Tuesday, July 19th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.00.

Sunrun Trading Up 4.5 %

NASDAQ RUN opened at $33.24 on Thursday. The business has a 50 day simple moving average of $25.70 and a two-hundred day simple moving average of $25.54. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.08 and a current ratio of 1.73. Sunrun has a 1-year low of $16.80 and a 1-year high of $60.60.

Sunrun (NASDAQ:RUNGet Rating) last announced its earnings results on Wednesday, May 4th. The energy company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.35). The company had revenue of $495.78 million during the quarter, compared to analysts’ expectations of $401.60 million. Sunrun had a negative return on equity of 1.39% and a negative net margin of 5.86%. Sunrun’s revenue for the quarter was up 48.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.11) EPS. On average, sell-side analysts anticipate that Sunrun will post -1.11 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Lynn Michelle Jurich sold 150,000 shares of Sunrun stock in a transaction on Friday, June 10th. The stock was sold at an average price of $26.19, for a total value of $3,928,500.00. Following the transaction, the insider now directly owns 1,467,335 shares in the company, valued at approximately $38,429,503.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Lynn Michelle Jurich sold 150,000 shares of Sunrun stock in a transaction on Friday, June 10th. The stock was sold at an average price of $26.19, for a total value of $3,928,500.00. Following the transaction, the insider now directly owns 1,467,335 shares in the company, valued at approximately $38,429,503.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeanna Steele sold 1,458 shares of the business’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $22.62, for a total value of $32,979.96. Following the transaction, the insider now owns 159,095 shares in the company, valued at $3,598,728.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 253,973 shares of company stock worth $6,546,339. 4.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in shares of Sunrun by 512.3% in the 1st quarter. CWM LLC now owns 845 shares of the energy company’s stock valued at $26,000 after buying an additional 707 shares during the period. Clearstead Advisors LLC lifted its holdings in shares of Sunrun by 743.6% in the 1st quarter. Clearstead Advisors LLC now owns 928 shares of the energy company’s stock valued at $28,000 after buying an additional 818 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Sunrun by 120.6% in the 1st quarter. Fifth Third Bancorp now owns 1,006 shares of the energy company’s stock valued at $31,000 after buying an additional 550 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Sunrun in the 1st quarter valued at about $32,000. Finally, Verity Asset Management Inc. acquired a new position in shares of Sunrun in the 1st quarter valued at about $35,000. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

About Sunrun

(Get Rating)

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.

Further Reading

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