Sunrun (NASDAQ:RUN) Given New $12.00 Price Target at Wells Fargo & Company

Sunrun (NASDAQ:RUN) had its price target decreased by Wells Fargo & Company from $15.00 to $12.00 in a research report report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company’s stock.

Several other equities analysts have also weighed in on the company. The Goldman Sachs Group cut their target price on Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Truist Financial reiterated a “hold” rating and issued a $12.00 price objective (down from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. BNP Paribas upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective on the stock in a research note on Tuesday. Jefferies Financial Group dropped their price objective on Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Finally, Morgan Stanley dropped their price objective on Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.16.

Sunrun Price Performance

NASDAQ RUN opened at $10.75 on Wednesday. Sunrun has a fifty-two week low of $9.01 and a fifty-two week high of $22.26. The stock’s 50-day moving average is $10.86 and its two-hundred day moving average is $14.78. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The firm has a market cap of $2.41 billion, a P/E ratio of -5.91 and a beta of 2.58.

Insider Buying and Selling at Sunrun

In related news, CRO Paul S. Dickson sold 2,968 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $33,182.24. Following the completion of the transaction, the executive now owns 418,492 shares in the company, valued at $4,678,740.56. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $9.94, for a total value of $497,000.00. Following the completion of the transaction, the director now owns 1,092,446 shares in the company, valued at $10,858,913.24. The trade was a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,830 shares of company stock valued at $1,864,647. 3.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Sunrun by 33.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock valued at $26,385,000 after purchasing an additional 367,835 shares during the period. Franklin Resources Inc. acquired a new position in shares of Sunrun in the 3rd quarter valued at $896,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Sunrun in the 3rd quarter valued at $44,000. Virtu Financial LLC acquired a new position in shares of Sunrun in the 3rd quarter valued at $482,000. Finally, TCW Group Inc. acquired a new position in shares of Sunrun in the 3rd quarter valued at $218,000. 91.69% of the stock is currently owned by institutional investors.

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.