JPMorgan Chase & Co. Boosts Sunrun (NASDAQ:RUN) Price Target to $22.00

Sunrun (NASDAQ:RUN) had its target price raised by JPMorgan Chase & Co. from $19.00 to $22.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the energy company’s stock.

Other research analysts have also recently issued research reports about the company. Susquehanna increased their price objective on Sunrun from $23.00 to $24.00 and gave the stock a positive rating in a research note on Monday, July 15th. Mizuho dropped their price objective on Sunrun from $28.00 to $23.00 and set a buy rating on the stock in a research note on Friday, April 19th. Oppenheimer increased their price objective on Sunrun from $19.00 to $22.00 and gave the stock an outperform rating in a research note on Wednesday. Piper Sandler increased their price objective on Sunrun from $20.00 to $23.00 and gave the stock an overweight rating in a research note on Wednesday. Finally, Evercore ISI dropped their price objective on Sunrun from $42.00 to $38.00 and set an outperform rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sunrun presently has an average rating of Moderate Buy and an average target price of $22.69.

Sunrun Trading Down 5.0 %

Shares of NASDAQ RUN traded down $0.94 during midday trading on Wednesday, hitting $17.89. The company’s stock had a trading volume of 12,009,536 shares, compared to its average volume of 14,786,885. The company has a current ratio of 1.31, a quick ratio of 0.99 and a debt-to-equity ratio of 1.84. The business’s 50 day moving average is $14.90 and its two-hundred day moving average is $13.34. Sunrun has a 12-month low of $8.43 and a 12-month high of $20.68. The firm has a market cap of $3.97 billion, a P/E ratio of -2.68 and a beta of 2.61.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.43% and a negative net margin of 66.36%. The firm had revenue of $523.87 million for the quarter, compared to the consensus estimate of $516.76 million. During the same period in the prior year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was down 11.2% on a year-over-year basis. As a group, equities research analysts expect that Sunrun will post -1.26 EPS for the current year.

Insider Activity

In other news, CEO Mary Powell sold 1,741 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $14.86, for a total transaction of $25,871.26. Following the completion of the sale, the chief executive officer now owns 589,927 shares in the company, valued at approximately $8,766,315.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Mary Powell sold 1,741 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $14.86, for a total transaction of $25,871.26. Following the completion of the sale, the chief executive officer now owns 589,927 shares in the company, valued at approximately $8,766,315.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Edward Harris Fenster sold 9,248 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $15.00, for a total value of $138,720.00. Following the sale, the director now owns 1,252,069 shares of the company’s stock, valued at approximately $18,781,035. The disclosure for this sale can be found here. In the last quarter, insiders sold 279,873 shares of company stock worth $4,171,119. Insiders own 3.76% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in Sunrun by 76.9% in the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock worth $35,000 after acquiring an additional 764 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new position in Sunrun in the 2nd quarter worth $36,000. BNP Paribas purchased a new position in Sunrun in the 1st quarter worth $37,000. CWM LLC raised its stake in Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after acquiring an additional 3,014 shares during the last quarter. Finally, USCF Advisers LLC raised its stake in Sunrun by 130.0% in the 4th quarter. USCF Advisers LLC now owns 2,300 shares of the energy company’s stock worth $45,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

About Sunrun

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.