Wells Fargo & Company Has Lowered Expectations for Sunrun (NASDAQ:RUN) Stock Price

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

Other analysts also recently issued research reports about the company. Guggenheim downgraded Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. The Goldman Sachs Group dropped their price objective on Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. BMO Capital Markets lowered their target price on Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a report on Monday, November 11th. TD Cowen started coverage on Sunrun in a report on Thursday, December 19th. They set a “buy” rating and a $21.00 target price for the company. Finally, Roth Mkm lowered their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.16.

Sunrun Stock Performance

Shares of Sunrun stock opened at $10.75 on Wednesday. The company has a market capitalization of $2.41 billion, a PE ratio of -5.91 and a beta of 2.58. Sunrun has a 12 month low of $9.01 and a 12 month high of $22.26. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The stock’s fifty day simple moving average is $10.86 and its 200 day simple moving average is $14.78.

Insider Buying and Selling

In related news, CEO Mary Powell sold 4,350 shares of Sunrun stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction 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 trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $14.60, for a total value of $730,000.00. Following the transaction, the director now owns 1,142,446 shares of the company’s stock, valued at $16,679,711.60. The trade was a 4.19 % 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 worth $1,864,647. Company insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its position in shares of Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after buying an additional 1,638 shares in the last quarter. Blue Trust Inc. raised its position in shares of 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 buying an additional 1,465 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sunrun in the third quarter valued at approximately $44,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Sunrun in the second quarter valued at approximately $56,000. Finally, Waldron Private Wealth LLC acquired a new stake in shares of Sunrun in the third quarter valued at approximately $135,000. 91.69% of the stock is currently 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.