Susquehanna Issues Pessimistic Forecast for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its price objective cut by investment analysts at Susquehanna from $15.00 to $13.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “positive” rating on the energy company’s stock. Susquehanna’s target price indicates a potential upside of 66.88% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Wall Street Zen cut Sunrun from a “hold” rating to a “sell” rating in a research note on Saturday. Barclays lowered their target price on Sunrun from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday. Weiss Ratings upgraded Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. Citigroup decreased their price target on shares of Sunrun from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Finally, Roth Capital restated a “buy” rating on shares of Sunrun in a research note on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Sunrun presently has an average rating of “Hold” and a consensus price target of $15.81.

Sunrun Price Performance

RUN stock opened at $7.79 on Wednesday. The stock has a market capitalization of $1.88 billion, a PE ratio of 5.26 and a beta of 2.44. The company’s 50-day moving average is $8.73 and its 200-day moving average is $11.45. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. Sunrun has a 1 year low of $7.26 and a 1 year high of $22.44.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%. The business had revenue of $869.99 million during the quarter, compared to analyst estimates of $746.87 million. During the same period in the previous year, the company posted $1.07 EPS. The firm’s revenue was up 52.8% compared to the same quarter last year. Equities research analysts expect that Sunrun will post 1.16 EPS for the current fiscal year.

Insider Activity

In other news, CEO Mary Powell sold 24,335 shares of Sunrun stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total value of $188,839.60. Following the completion of the transaction, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $9.96, for a total transaction of $498,000.00. Following the completion of the sale, the director directly owned 367,405 shares in the company, valued at approximately $3,659,353.80. This trade represents a 11.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 118,719 shares of company stock valued at $1,031,277. 3.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RUN. Amundi grew its holdings in Sunrun by 56.3% during the 1st quarter. Amundi now owns 3,300,626 shares of the energy company’s stock valued at $44,798,000 after buying an additional 1,188,564 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Sunrun during the second quarter valued at about $18,120,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Sunrun during the second quarter valued at about $4,210,000. EP Wealth Advisors LLC purchased a new stake in shares of Sunrun in the second quarter worth about $1,960,000. Finally, Diversify Advisory Services LLC bought a new position in shares of Sunrun in the second quarter valued at approximately $8,254,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

About Sunrun

Sunrun Inc is a residential solar energy company that designs, installs, owns and maintains solar energy systems for homeowners. The company typically provides electricity through long-term agreements, including solar leases and power purchase agreements, allowing customers to use electricity generated by rooftop solar systems without purchasing the equipment outright.

Sunrun also offers energy storage solutions, including its BrightBox battery system, which can store electricity for use during outages, periods of high demand or when solar generation is unavailable.