The Goldman Sachs Group Trims Sunrun (NASDAQ:RUN) Target Price to $36.00

Sunrun (NASDAQ:RUNGet Rating) had its target price decreased by The Goldman Sachs Group from $40.00 to $36.00 in a report released on Monday morning, The Fly reports. The Goldman Sachs Group currently has a buy rating on the energy company’s stock.

RUN has been the subject of a number of other research reports. Piper Sandler decreased their target price on shares of Sunrun from $41.00 to $39.00 in a research note on Thursday, April 21st. Morgan Stanley reduced their price objective on shares of Sunrun from $89.00 to $70.00 and set an overweight rating for the company in a research note on Monday, June 13th. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of Buy and an average target price of $55.08.

Shares of NASDAQ:RUN opened at $23.44 on Monday. The firm has a fifty day moving average of $23.23 and a two-hundred day moving average of $27.54. The firm has a market capitalization of $4.93 billion, a P/E ratio of -33.49 and a beta of 2.22. Sunrun has a 12-month low of $16.80 and a 12-month high of $60.60. The company has a quick ratio of 1.08, a current ratio of 1.60 and a debt-to-equity ratio of 1.03.

Sunrun (NASDAQ:RUNGet Rating) last issued its earnings results on Wednesday, May 4th. The energy company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.35). The company had revenue of $495.78 million for the quarter, compared to analyst estimates of $401.60 million. Sunrun had a negative net margin of 8.10% and a negative return on equity of 1.64%. The company’s quarterly revenue was up 48.1% on a year-over-year basis. During the same period last year, the business earned ($0.11) EPS. Equities research analysts expect that Sunrun will post -1.11 earnings per share for the current fiscal year.

In related news, insider Jeanna Steele sold 1,458 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $22.62, for a total value of $32,979.96. Following the sale, the insider now owns 159,095 shares of the company’s stock, valued at $3,598,728.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lynn Michelle Jurich sold 150,000 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $26.19, for a total transaction of $3,928,500.00. Following the completion of the sale, the insider now directly owns 1,467,335 shares in the company, valued at approximately $38,429,503.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,389 shares of company stock worth $4,148,953. Insiders own 4.29% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in RUN. Dark Forest Capital Management LP acquired a new position in Sunrun in the third quarter valued at about $84,000. Royal Bank of Canada boosted its position in Sunrun by 34.1% in the third quarter. Royal Bank of Canada now owns 474,090 shares of the energy company’s stock valued at $20,859,000 after buying an additional 120,617 shares in the last quarter. Man Group plc boosted its position in Sunrun by 241.6% in the third quarter. Man Group plc now owns 95,938 shares of the energy company’s stock valued at $4,222,000 after buying an additional 67,854 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Sunrun by 122.8% in the third quarter. Cubist Systematic Strategies LLC now owns 71,461 shares of the energy company’s stock valued at $3,144,000 after buying an additional 39,394 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its position in Sunrun by 7.3% in the third quarter. Metropolitan Life Insurance Co NY now owns 33,504 shares of the energy company’s stock valued at $1,474,000 after buying an additional 2,271 shares in the last quarter. Hedge funds and other institutional investors own 90.54% of the company’s stock.

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.

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