Sunrun (NASDAQ:RUN) Stock Rating Reaffirmed by The Goldman Sachs Group

Sunrun (NASDAQ:RUN)‘s stock had its “buy” rating restated by stock analysts at The Goldman Sachs Group in a report released on Wednesday, Benzinga reports. They currently have a $20.00 price target on the energy company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 7.76% from the company’s current price.

RUN has been the subject of several other reports. Barclays increased their price target on Sunrun from $16.00 to $19.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Piper Sandler lifted their target price on shares of Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Morgan Stanley reissued an “overweight” rating and set a $35.00 price target on shares of Sunrun in a report on Tuesday. Evercore ISI reduced their price objective on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Oppenheimer boosted their target price on Sunrun from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.33.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $18.56 on Wednesday. The stock has a market cap of $4.11 billion, a P/E ratio of -2.78 and a beta of 2.59. Sunrun has a twelve month low of $8.43 and a twelve month high of $22.26. The stock has a 50 day moving average of $18.70 and a two-hundred day moving average of $14.58. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The firm had revenue of $523.87 million for the quarter, compared to analysts’ expectations of $516.76 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. On average, research analysts forecast that Sunrun will post -0.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jeanna Steele sold 2,513 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.61, for a total transaction of $31,688.93. Following the completion of the transaction, the insider now directly owns 312,774 shares of the company’s stock, valued at approximately $3,944,080.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Jeanna Steele sold 2,513 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.61, for a total transaction of $31,688.93. Following the transaction, the insider now owns 312,774 shares of the company’s stock, valued at $3,944,080.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the completion of the sale, the director now directly owns 1,192,446 shares of the company’s stock, valued at $24,087,409.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,675 shares of company stock worth $3,253,289. Insiders own 3.76% of the company’s stock.

Institutional Trading of Sunrun

A number of hedge funds have recently added to or reduced their stakes in RUN. Duncker Streett & Co. Inc. acquired a new position in shares of Sunrun in the 2nd quarter valued at $36,000. BNP Paribas purchased a new position in shares of Sunrun in the 1st quarter worth $37,000. CWM LLC boosted its holdings in Sunrun by 883.9% in the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after acquiring an additional 3,014 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Sunrun during the second quarter valued at about $45,000. Finally, Headlands Technologies LLC acquired a new stake in Sunrun during the first quarter worth about $53,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.