Wells Fargo & Company Cuts Sunrun (NASDAQ:RUN) Price Target to $12.00

Sunrun (NASDAQ:RUN) had its price target trimmed by Wells Fargo & Company from $15.00 to $12.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

Several other analysts also recently commented on RUN. Truist Financial reissued a “hold” rating and issued a $12.00 target price (down from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. Susquehanna decreased their price objective 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. Glj Research reissued a “sell” rating and set a $7.78 target price on shares of Sunrun in a research report on Thursday, November 7th. Morgan Stanley reduced their price target on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Finally, Barclays decreased their price target on Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Sunrun has a consensus rating of “Moderate Buy” and an average price target of $19.31.

Sunrun Stock Down 6.6 %

Shares of Sunrun stock opened at $10.04 on Wednesday. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -5.52 and a beta of 2.58. The stock has a 50-day simple moving average of $10.78 and a 200-day simple moving average of $14.76. Sunrun has a 52-week low of $9.01 and a 52-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.

Insider Activity

In other news, CEO Mary Powell sold 4,350 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $48,633.00. Following the completion of the transaction, the chief executive officer now owns 560,321 shares in the company, valued at approximately $6,264,388.78. This represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Danny Abajian sold 3,734 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $41,746.12. Following the completion of the transaction, the chief financial officer now directly owns 257,969 shares of the company’s stock, valued at $2,884,093.42. This trade represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,830 shares of company stock valued at $1,864,647. Insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several large investors have recently made changes to their positions in RUN. Principal Financial Group Inc. boosted its stake in Sunrun by 33.7% in the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock worth $26,385,000 after purchasing an additional 367,835 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of Sunrun in the third quarter valued at about $76,152,000. Symmetry Investments LP acquired a new position in Sunrun during the 2nd quarter worth about $1,205,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Sunrun by 113.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock worth $45,426,000 after acquiring an additional 1,337,302 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Sunrun in the 3rd quarter valued at about $955,000. 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.