Sunrun Inc. (NASDAQ:RUN) Receives $16.81 Consensus Price Target from Analysts

Shares of Sunrun Inc. (NASDAQ:RUN) have received a consensus rating of “Hold” from the twenty-two analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $16.8128.

Several equities analysts recently issued reports on RUN shares. Citigroup dropped their price target on Sunrun from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Royal Bank Of Canada dropped their target price on Sunrun from $18.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. UBS Group cut their price target on Sunrun from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Oppenheimer reaffirmed an “outperform” rating and set a $20.00 price target on shares of Sunrun in a report on Thursday, August 6th. Finally, Glj Research reiterated a “sell” rating and issued a $4.63 price objective on shares of Sunrun in a research report on Monday, August 17th.

Sunrun Stock Performance

Shares of RUN opened at $8.93 on Tuesday. The company’s 50 day simple moving average is $10.68 and its 200-day simple moving average is $12.75. The firm has a market cap of $2.15 billion, a PE ratio of 6.03 and a beta of 2.37. Sunrun has a 12-month low of $8.22 and a 12-month high of $22.44. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The firm had revenue of $869.99 million during the quarter, compared to the consensus estimate of $746.87 million. During the same quarter in the prior year, the firm earned $1.07 EPS. Sunrun’s revenue for the quarter was up 52.8% on a year-over-year basis. As a group, equities analysts predict that Sunrun will post 1.18 EPS for the current year.

Insider Activity at Sunrun

In other news, Director Lynn Jurich sold 50,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $9.96, for a total transaction of $498,000.00. Following the transaction, the director directly owned 367,405 shares in the company, valued at $3,659,353.80. The trade was a 11.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mary Powell sold 23,985 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $316,362.15. Following the transaction, the chief executive officer directly owned 1,111,535 shares of the company’s stock, valued at $14,661,146.65. This represents a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 173,045 shares of company stock worth $2,138,835 in the last 90 days. Corporate insiders own 3.55% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently added to or reduced their stakes in RUN. Contour Asset Management LLC acquired a new stake in shares of Sunrun in the 4th quarter valued at approximately $98,010,000. California State Teachers Retirement System grew its holdings in Sunrun by 1,275.2% during the second quarter. California State Teachers Retirement System now owns 3,674,041 shares of the energy company’s stock worth $49,159,000 after acquiring an additional 3,406,879 shares during the period. Norges Bank acquired a new position in Sunrun during the fourth quarter worth $62,169,000. Voloridge Investment Management LLC purchased a new position in Sunrun in the third quarter worth $40,193,000. Finally, Bank of America Corp DE purchased a new position in Sunrun in the second quarter worth $29,953,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

More Sunrun News

Here are the key news stories impacting Sunrun this week:

• Positive Sentiment: PG&E VPP partnership expands Sunrun’s distributed-energy opportunity. PG&E launched a Bay Area virtual power plant that will aggregate energy resources such as home batteries and heat pumps. Sunrun is participating alongside Google, Tesla, Carrier, Renew Home and other technology providers. The program could strengthen Sunrun’s role in managing residential energy assets and create longer-term opportunities for grid-services revenue, although the announcements did not disclose a material near-term financial impact. PG&E launches VPP program tapping into home batteries and heat pumps PG&E teams up with Google, Tesla, Sunrun on Bay Area virtual power plant
• Positive Sentiment: Call-option activity points to speculative bullish interest. Investors purchased 78,935 Sunrun call options on September 2, approximately 184% above typical daily call volume. Heavy call buying can indicate expectations for a rebound or increased volatility, but it does not guarantee buying in the underlying shares. Most Active Options Report: DELL, CRDO, GTLB, RUN, ALLY
• Neutral Sentiment: A comparison of Fervo Energy and Sunrun provides industry and company context but does not identify a new catalyst, earnings change or specific price target for Sunrun. Comparing Fervo Energy and Sunrun
• Negative Sentiment: High short interest remains an overhang. Sunrun was included in a screen of the most-short-interest industrial stocks with market capitalizations above $2 billion. Elevated short positioning can pressure the stock and increase volatility, though it also leaves room for a potential short squeeze if positive news attracts buyers. Most and least shorted industrial stocks with market caps above $2 billion

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.