BMO Capital Markets Cuts Sunrun (NASDAQ:RUN) Price Target to $9.00

Sunrun (NASDAQ:RUN) had its target price reduced by BMO Capital Markets from $11.00 to $9.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a market perform rating on the energy company’s stock.

Several other research firms have also weighed in on RUN. TD Cowen cut their target price on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, February 28th. Morgan Stanley dropped their price target on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Wells Fargo & Company dropped their price target on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group dropped their price target on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Finally, Roth Mkm dropped their price target on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Sunrun has a consensus rating of “Moderate Buy” and a consensus price target of $17.51.

Sunrun Price Performance

NASDAQ:RUN opened at $6.90 on Monday. 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 cap of $1.55 billion, a price-to-earnings ratio of -3.79 and a beta of 2.59. The company has a 50 day moving average price of $9.13 and a 200-day moving average price of $12.85. Sunrun has a 1-year low of $5.93 and a 1-year high of $22.26.

Insider Activity

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $9.42, for a total value of $471,000.00. Following the sale, the director now directly owns 1,041,753 shares in the company, valued at approximately $9,813,313.26. The trade was a 4.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Paul S. Dickson sold 2,968 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $33,182.24. Following the completion of the sale, the executive now owns 418,492 shares in the company, valued at approximately $4,678,740.56. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,064 shares of company stock valued at $1,551,556. 3.77% of the stock is currently owned by insiders.

Institutional Trading of Sunrun

Several institutional investors and hedge funds have recently bought and sold shares of RUN. Sylebra Capital LLC increased its stake in Sunrun by 124.0% during the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock worth $61,819,000 after purchasing an additional 3,699,405 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Sunrun by 8.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 662,211 shares of the energy company’s stock worth $6,125,000 after purchasing an additional 52,176 shares during the period. Vident Advisory LLC increased its stake in Sunrun by 76.9% during the fourth quarter. Vident Advisory LLC now owns 20,219 shares of the energy company’s stock worth $187,000 after purchasing an additional 8,792 shares during the period. Teza Capital Management LLC increased its stake in Sunrun by 12.9% during the fourth quarter. Teza Capital Management LLC now owns 44,677 shares of the energy company’s stock worth $413,000 after purchasing an additional 5,121 shares during the period. Finally, Raiffeisen Bank International AG purchased a new stake in Sunrun during the fourth quarter worth about $2,363,000. 91.69% of the stock is currently owned by hedge funds and other 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.