Wells Fargo & Company Issues Pessimistic Forecast for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN - Get Free Report) had its target price decreased by equities research analysts at Wells Fargo & Company from $20.00 to $15.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the energy company's stock. Wells Fargo & Company's price objective suggests a potential upside of 46.63% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Oppenheimer dropped their target price on shares of Sunrun from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Sunrun from $19.00 to $22.00 and gave the company an "overweight" rating in a research report on Wednesday, August 7th. Barclays decreased their price target on Sunrun from $19.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 16th. Evercore ISI dropped their price objective on Sunrun from $42.00 to $38.00 and set an "outperform" rating for the company in a research report on Wednesday, August 7th. Finally, Glj Research reiterated a "sell" rating and issued a $7.78 target price on shares of Sunrun in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $21.33.

Sunrun Price Performance

Shares of RUN stock traded down $1.37 during trading on Friday, hitting $10.23. The company had a trading volume of 29,553,820 shares, compared to its average volume of 12,005,911. The stock's 50-day moving average price is $16.80 and its 200 day moving average price is $15.39. Sunrun has a one year low of $8.82 and a one year high of $22.26. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66. The firm has a market capitalization of $2.29 billion, a P/E ratio of -1.59 and a beta of 2.61.

Sunrun (NASDAQ:RUN - Get Free Report) last released its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.88. The company had revenue of $523.87 million for the quarter, compared to analyst estimates of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. Sunrun's quarterly revenue was down 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. Equities analysts expect that Sunrun will post -0.17 EPS for the current fiscal year.

Insider Activity at Sunrun

In related news, 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 value of $1,010,000.00. Following the transaction, the director now directly owns 1,192,446 shares of the company's stock, valued at $24,087,409.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jeanna Steele sold 2,357 shares of the business's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $18.23, for a total value of $42,968.11. Following the transaction, the insider now directly owns 308,260 shares of the company's stock, valued at $5,619,579.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00. Following the sale, the director now owns 1,192,446 shares in the company, valued at approximately $24,087,409.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 155,840 shares of company stock worth $2,755,487 over the last three months. Company insiders own 3.77% of the company's stock.

Hedge Funds Weigh In On Sunrun

Several institutional investors have recently added to or reduced their stakes in RUN. International Assets Investment Management LLC boosted its position in shares of Sunrun by 1,706.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company's stock worth $31,000 after purchasing an additional 1,638 shares in the last quarter. Blue Trust Inc. grew its stake in Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company's stock valued at $33,000 after acquiring an additional 1,465 shares during the period. Duncker Streett & Co. Inc. bought a new stake in shares of Sunrun during the second quarter valued at approximately $36,000. CWM LLC increased its holdings in shares of Sunrun by 883.9% during 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 in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Sunrun during the second quarter worth approximately $45,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.