Sunrun (NASDAQ:RUN) Price Target Lowered to $6.00 at Jefferies Financial Group

Sunrun (NASDAQ:RUN - Get Free Report) had its price objective dropped by stock analysts at Jefferies Financial Group from $7.00 to $6.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the energy company's stock. Jefferies Financial Group's target price points to a potential downside of 18.26% from the stock's previous close.

Several other brokerages have also recently issued reports on RUN. Morgan Stanley reissued an "equal weight" rating and issued a $11.00 price objective on shares of Sunrun in a report on Wednesday, April 23rd. TD Cowen decreased their price objective on Sunrun from $18.00 to $14.00 and set a "buy" rating for the company in a report on Friday, February 28th. Barclays reduced their price target on Sunrun from $18.00 to $15.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. BMO Capital Markets cut Sunrun from a "hold" rating to a "strong sell" rating and reduced their price target for the stock from $9.00 to $4.00 in a report on Thursday, May 22nd. Finally, UBS Group reaffirmed a "buy" rating and issued a $17.00 price target on shares of Sunrun in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Sunrun presently has a consensus rating of "Hold" and a consensus price target of $14.15.

Sunrun Stock Performance

RUN traded up $0.49 on Wednesday, reaching $7.34. 25,367,211 shares of the stock were exchanged, compared to its average volume of 11,764,472. The company's 50-day moving average price is $7.60 and its 200 day moving average price is $8.66. Sunrun has a fifty-two week low of $5.45 and a fifty-two week high of $22.26. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The firm has a market capitalization of $1.68 billion, a PE ratio of -4.03 and a beta of 2.66.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.42. The company had revenue of $504.27 million during the quarter, compared to analysts' expectations of $487.29 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The firm's revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.40) EPS. As a group, sell-side analysts forecast that Sunrun will post -0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Edward Harris Fenster purchased 150,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now directly owns 1,358,182 shares of the company's stock, valued at approximately $9,235,637.60. This trade represents a 12.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeanna Steele sold 9,942 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $67,009.08. Following the completion of the sale, the insider now owns 291,238 shares of the company's stock, valued at $1,962,944.12. This trade represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 88,540 shares of company stock worth $595,944. Corporate insiders own 3.37% of the company's stock.

Institutional Investors Weigh In On Sunrun

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Sunrun by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company's stock valued at $219,679,000 after acquiring an additional 343,448 shares during the last quarter. Greenvale Capital LLP lifted its holdings in Sunrun by 50.3% in the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock valued at $124,875,000 after acquiring an additional 4,516,793 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in Sunrun by 593.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock valued at $111,263,000 after acquiring an additional 10,294,947 shares during the last quarter. Sylebra Capital LLC lifted its holdings in Sunrun by 23.8% in the first quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company's stock valued at $48,482,000 after acquiring an additional 1,590,169 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Sunrun by 27.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,621,303 shares of the energy company's stock valued at $61,252,000 after acquiring an additional 1,427,858 shares during the last quarter. 91.69% of the stock is currently 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.