Sunrun (NASDAQ:RUN) Price Target Lowered to $14.00 at Royal Bank of Canada

Sunrun (NASDAQ:RUN) had its price objective reduced by Royal Bank of Canada from $17.00 to $14.00 in a report issued on Monday,Benzinga reports. They currently have an outperform rating on the energy company’s stock.

A number of other analysts have also recently commented on RUN. Piper Sandler cut shares of Sunrun from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $11.00 in a report on Friday, November 22nd. Guggenheim cut shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Barclays dropped their target price on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Jefferies Financial Group dropped their target price on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Truist Financial restated a “hold” rating and set a $9.00 target price (down previously from $12.00) on shares of Sunrun in a report on Monday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and an average target price of $17.51.

Sunrun Stock Performance

Shares of RUN stock opened at $6.90 on Monday. Sunrun has a 12 month low of $5.93 and a 12 month high of $22.26. The stock has a market cap of $1.55 billion, a PE ratio of -3.79 and a beta of 2.59. 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 company’s fifty day moving average price is $9.13 and its 200-day moving average price is $12.85.

Insiders Place Their Bets

In other Sunrun news, Director Edward Harris Fenster purchased 150,000 shares of Sunrun stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the transaction, the director now directly owns 1,358,182 shares of the company’s stock, valued at $9,235,637.60. This trade represents a 12.42 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the sale, the director now directly owns 1,041,753 shares of the company’s stock, valued at $9,813,313.26. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,064 shares of company stock valued at $1,551,556. 3.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Sunrun

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. International Assets Investment Management LLC increased its holdings in Sunrun by 1,706.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,638 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in Sunrun by 21.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,612 shares of the energy company’s stock worth $372,000 after acquiring an additional 3,676 shares in the last quarter. Pinnacle Associates Ltd. purchased a new stake in Sunrun in the 3rd quarter worth approximately $255,000. Van ECK Associates Corp increased its holdings in Sunrun by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock worth $905,000 after acquiring an additional 886 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Sunrun by 8.3% in the 3rd quarter. QRG Capital Management Inc. now owns 30,135 shares of the energy company’s stock worth $544,000 after purchasing an additional 2,317 shares during the period. 91.69% of the stock is 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.