Wells Fargo & Company Has Lowered Expectations for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its price objective reduced by Wells Fargo & Company from $15.00 to $12.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 13.53% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group cut their price target on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. TD Cowen initiated coverage on shares of Sunrun in a research note on Thursday, December 19th. They issued a “buy” rating and a $21.00 price target for the company. Guggenheim lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Barclays decreased their target price on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Finally, Oppenheimer dropped their price target on Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Sunrun presently has an average rating of “Hold” and a consensus target price of $19.16.

Sunrun Trading Down 7.0 %

Shares of NASDAQ:RUN traded down $0.80 during trading on Wednesday, reaching $10.57. 1,814,147 shares of the company traded hands, compared to its average volume of 7,138,684. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. Sunrun has a 52-week low of $9.01 and a 52-week high of $22.26. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -5.81 and a beta of 2.58. The business’s fifty day moving average is $10.92 and its 200-day moving average is $14.81.

Insiders Place Their Bets

In other news, CEO Mary Powell sold 4,350 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $48,633.00. Following the sale, the chief executive officer now directly owns 560,321 shares in the company, valued at $6,264,388.78. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $9.42, for a total value of $471,000.00. Following the completion of the sale, the director now directly owns 1,041,753 shares of the company’s stock, valued at $9,813,313.26. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,830 shares of company stock valued at $1,864,647. Insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. raised its holdings in shares of Sunrun by 1.5% in the second quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock valued at $538,000 after acquiring an additional 691 shares in the last quarter. Creative Planning increased its position in Sunrun by 0.3% during the 3rd quarter. Creative Planning now owns 290,259 shares of the energy company’s stock valued at $5,242,000 after purchasing an additional 784 shares during the period. Van ECK Associates Corp lifted its position in shares of Sunrun by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock worth $905,000 after purchasing an additional 886 shares during the period. United Services Automobile Association boosted its stake in shares of Sunrun by 6.3% during the second quarter. United Services Automobile Association now owns 17,631 shares of the energy company’s stock valued at $209,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after buying an additional 1,465 shares during the period. Institutional investors own 91.69% of the company’s stock.

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.