Sunrun (NASDAQ:RUN) Given New $16.00 Price Target at JPMorgan Chase & Co.

Sunrun (NASDAQ:RUN - Get Free Report) had its price objective upped by JPMorgan Chase & Co. from $13.00 to $16.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the energy company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 60.64% from the company's current price.

Several other analysts also recently issued reports on RUN. BNP Paribas Exane upgraded Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 price target for the company in a research note on Monday, July 7th. Susquehanna decreased their price objective on Sunrun from $13.00 to $10.00 and set a "positive" rating on the stock in a report on Monday, April 14th. UBS Group cut their target price on Sunrun from $17.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 30th. BMO Capital Markets downgraded shares of Sunrun from a "hold" rating to a "strong sell" rating and decreased their price target for the stock from $9.00 to $4.00 in a research note on Thursday, May 22nd. Finally, Truist Financial reissued a "hold" rating and issued a $6.00 target price (down previously from $9.00) on shares of Sunrun in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $14.22.

Sunrun Stock Down 3.7%

Sunrun stock traded down $0.38 during mid-day trading on Tuesday, hitting $9.96. The company's stock had a trading volume of 12,043,069 shares, compared to its average volume of 13,494,773. Sunrun has a 52-week low of $5.38 and a 52-week high of $22.26. The company has a market cap of $2.28 billion, a PE ratio of -0.82 and a beta of 2.60. The company has a debt-to-equity ratio of 3.89, a current ratio of 1.32 and a quick ratio of 0.99. The firm's 50 day moving average is $8.95 and its 200 day moving average is $8.23.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.42. The firm had revenue of $504.27 million for the quarter, compared to analyst estimates of $487.29 million. Sunrun had a negative net margin of 129.97% and a positive return on equity of 9.42%. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.40) EPS. On average, analysts anticipate that Sunrun will post -0.43 earnings per share for the current year.

Insider Buying and Selling at Sunrun

In related news, CFO Danny Abajian sold 8,909 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $10.80, for a total transaction of $96,217.20. Following the transaction, the chief financial officer directly owned 446,797 shares of the company's stock, valued at approximately $4,825,407.60. The trade was a 1.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward Harris Fenster purchased 50,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $10.87 per share, for a total transaction of $543,500.00. Following the purchase, the director owned 1,408,182 shares in the company, valued at $15,306,938.34. This trade represents a 3.68% increase in their position. The disclosure for this purchase can be found here. Insiders sold 41,939 shares of company stock valued at $430,264 in the last 90 days. Company insiders own 3.37% of the company's stock.

Hedge Funds Weigh In On Sunrun

Large investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd bought a new position in Sunrun in the 4th quarter valued at about $29,000. Summit Securities Group LLC bought a new position in Sunrun in the fourth quarter valued at approximately $53,000. Apollon Wealth Management LLC acquired a new position in Sunrun during the first quarter valued at approximately $60,000. US Bancorp DE boosted its holdings in shares of Sunrun by 107.6% in the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock valued at $60,000 after purchasing an additional 5,342 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in shares of Sunrun by 807.5% in the 4th quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company's stock valued at $64,000 after purchasing an additional 6,129 shares during the last quarter. 91.69% of the stock is owned by institutional investors.

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.