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

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

A number of other equities research analysts also recently commented on RUN. Wells Fargo & Company reduced their price objective on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Piper Sandler cut Sunrun from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $11.00 in a report on Friday, November 22nd. Roth Mkm dropped their price objective on Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Oppenheimer reduced their target price on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, Barclays lowered their price target on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.61.

Sunrun Stock Performance

Shares of RUN opened at $6.17 on Monday. The stock has a market capitalization of $1.38 billion, a P/E ratio of -3.39 and a beta of 2.59. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. Sunrun has a 1 year low of $6.00 and a 1 year high of $22.26. The company’s fifty day moving average is $9.20 and its two-hundred day moving average is $12.94.

Insiders Place Their Bets

In other news, CRO Paul S. Dickson sold 2,968 shares of the 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 transaction, the executive now directly owns 418,492 shares in the company, valued at $4,678,740.56. This represents a 0.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Danny Abajian sold 3,734 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $41,746.12. Following the completion of the sale, the chief financial officer now owns 257,969 shares of the company’s stock, valued at approximately $2,884,093.42. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,064 shares of company stock valued at $1,551,556 in the last ninety days. Insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of 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 valued at $31,000 after purchasing an additional 1,638 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Sunrun in the third quarter valued at approximately $44,000. Aster Capital Management DIFC Ltd acquired a new position in Sunrun during the fourth quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. grew its stake in Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after buying an additional 2,000 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of Sunrun in the fourth quarter worth $53,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.