The Goldman Sachs Group Issues Pessimistic Forecast for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN - Get Free Report) had its price target dropped by equities researchers at The Goldman Sachs Group from $19.00 to $17.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the energy company's stock. The Goldman Sachs Group's price objective would indicate a potential upside of 68.99% from the stock's previous close.

Several other research firms also recently weighed in on RUN. UBS Group dropped their price target on Sunrun from $18.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, November 26th. Guggenheim cut shares of Sunrun from a "buy" rating to a "neutral" rating in a research report on Thursday, November 7th. Truist Financial reissued a "hold" rating and issued a $12.00 target price (down previously from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. Roth Mkm decreased their price objective on shares of Sunrun from $35.00 to $30.00 and set a "buy" rating for the company in a report on Friday, November 8th. Finally, Susquehanna decreased their price target on shares of Sunrun from $24.00 to $23.00 and set a "positive" rating for the company in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $19.12.

Sunrun Stock Performance

RUN traded up $0.07 during trading on Tuesday, hitting $10.06. 7,842,496 shares of the stock were exchanged, compared to its average volume of 11,682,630. Sunrun has a 1-year low of $9.23 and a 1-year high of $22.26. The firm has a market capitalization of $2.26 billion, a P/E ratio of -5.53 and a beta of 2.54. The stock has a fifty day moving average price of $12.50 and a two-hundred day moving average price of $15.24. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Insider Buying and Selling at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the firm's 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 transaction, the director now directly owns 1,192,446 shares in the company, valued at $24,087,409.20. This trade represents a 4.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Danny Abajian sold 4,869 shares of Sunrun stock in a transaction on Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $79,608.15. Following the completion of the sale, the chief financial officer now owns 269,393 shares in the company, valued at approximately $4,404,575.55. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 169,691 shares of company stock worth $2,550,601 over the last ninety days. 3.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunrun

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC lifted its position in Sunrun by 1,706.3% during the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company's stock worth $31,000 after buying an additional 1,638 shares in the last quarter. Blue Trust Inc. raised its holdings in Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company's stock worth $33,000 after purchasing an additional 1,465 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new position in Sunrun during the second quarter worth about $36,000. CWM LLC raised its position in shares of Sunrun by 883.9% during the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company's stock worth $40,000 after purchasing an additional 3,014 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Sunrun in the third quarter valued at $44,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.