Sunrun (NASDAQ:RUN) Given New $14.00 Price Target at Wells Fargo & Company

Sunrun (NASDAQ:RUN) had its price target reduced by Wells Fargo & Company from $17.00 to $14.00 in a research report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the energy company’s stock.

A number of other research analysts have also commented on RUN. Wall Street Zen upgraded Sunrun from a “sell” rating to a “hold” rating in a research report on Sunday, October 18th. Royal Bank Of Canada reduced their target price on shares of Sunrun from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, November 6th. Glj Research restated a “sell” rating and set a $4.63 target price on shares of Sunrun in a report on Monday, August 17th. TD Cowen reduced their target price on Sunrun from $21.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Barclays lowered their price objective on shares of Sunrun from $14.00 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, October 9th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.04.

Sunrun Trading Up 1.3%

Shares of NASDAQ:RUN opened at $8.63 on Friday. The company has a market cap of $2.09 billion, a PE ratio of 4.36 and a beta of 2.35. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 3.22. Sunrun has a fifty-two week low of $6.78 and a fifty-two week high of $21.95. The company’s 50-day moving average price is $8.15 and its 200 day moving average price is $11.99.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, November 4th. The energy company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.16 by $0.40. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $757.53 million. Sunrun had a return on equity of 12.31% and a net margin of 14.01%. Sunrun’s revenue was up 51.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share. Sell-side analysts anticipate that Sunrun will post 1.76 earnings per share for the current year.

Insider Transactions at Sunrun

In related news, CAO Maria Barak sold 3,256 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $9.35, for a total value of $30,443.60. Following the transaction, the chief accounting officer owned 85,006 shares in the company, valued at approximately $794,806.10. This represents a 3.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mary Powell sold 24,335 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $188,839.60. Following the completion of the sale, the chief executive officer directly owned 1,087,200 shares in the company, valued at $8,436,672. This trade represents a 2.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 71,975 shares of company stock valued at $563,721. 3.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RUN. Bank of America Corp DE acquired a new stake in Sunrun in the second quarter valued at approximately $29,953,000. Bank of New York Mellon Corp acquired a new position in shares of Sunrun during the second quarter worth $18,120,000. Robeco Schweiz AG lifted its stake in shares of Sunrun by 28.5% in the 3rd quarter. Robeco Schweiz AG now owns 5,478,228 shares of the energy company’s stock valued at $42,566,000 after acquiring an additional 1,214,548 shares during the last quarter. Amundi lifted its stake in shares of Sunrun by 56.3% in the 1st quarter. Amundi now owns 3,300,626 shares of the energy company’s stock valued at $44,798,000 after acquiring an additional 1,188,564 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Sunrun during the 2nd quarter valued at $12,483,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

About Sunrun

Sunrun Inc. provides residential solar energy systems and battery storage in the United States. Its offerings include system design and installation, energy storage, and ongoing monitoring and maintenance for homeowners. Customers can purchase systems or use arrangements such as leases and power purchase agreements, which allow them to use solar-generated electricity without buying the equipment outright. Sunrun also offers battery storage that can provide backup power and support the use of solar energy when panels are not generating electricity.