Sunrun (NASDAQ:RUN) Given New $8.00 Price Target at Wells Fargo & Company

Sunrun (NASDAQ:RUN - Get Free Report) had its price objective reduced by investment analysts at Wells Fargo & Company from $10.00 to $8.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the energy company's stock. Wells Fargo & Company's price objective would indicate a potential upside of 11.23% from the company's previous close.

Several other equities research analysts have also recently commented on RUN. TD Cowen cut their price target on Sunrun from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Friday, February 28th. UBS Group cut their price objective on shares of Sunrun from $17.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Citigroup restated a "neutral" rating and issued a $7.00 target price on shares of Sunrun in a research note on Thursday, April 17th. Wall Street Zen downgraded shares of Sunrun from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $11.00 target price on shares of Sunrun in a research note on Wednesday, April 23rd. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $13.26.

Sunrun Stock Performance

RUN stock traded down $0.01 on Wednesday, hitting $7.19. The company's stock had a trading volume of 2,971,814 shares, compared to its average volume of 12,993,031. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -0.58 and a beta of 2.61. The firm has a 50 day moving average of $8.10 and a two-hundred day moving average of $8.27. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 3.89. Sunrun has a 1 year low of $5.38 and a 1 year high of $22.26.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 positive return on equity of 9.42% and a negative net margin of 129.97%. The business's revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.40) earnings per share. Equities analysts predict that Sunrun will post -0.43 EPS for the current fiscal year.

Insider Transactions at Sunrun

In other news, CEO Mary Powell sold 31,197 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $210,267.78. Following the completion of the transaction, the chief executive officer now directly owns 534,615 shares of the company's stock, valued at $3,603,305.10. The trade was a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edward Harris Fenster acquired 50,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average cost of $10.87 per share, for a total transaction of $543,500.00. Following the purchase, the director now owns 1,408,182 shares of the company's stock, valued at approximately $15,306,938.34. The trade was a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 88,993 shares of company stock valued at $612,979 in the last ninety days. Corporate insiders own 3.37% of the company's stock.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently modified their holdings of the company. Focus Partners Wealth grew its stake in Sunrun by 21.2% in the 1st quarter. Focus Partners Wealth now owns 12,702 shares of the energy company's stock worth $74,000 after acquiring an additional 2,226 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Sunrun by 14.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 760,758 shares of the energy company's stock worth $4,458,000 after purchasing an additional 98,547 shares during the last quarter. United Services Automobile Association acquired a new stake in Sunrun in the 1st quarter worth about $87,000. Caxton Associates LLP acquired a new position in shares of Sunrun during the 1st quarter valued at about $2,045,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Sunrun by 45.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company's stock worth $13,518,000 after acquiring an additional 718,955 shares during the period. Hedge funds and other institutional investors own 91.69% of the company's stock.

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.

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