TD Cowen Lowers Sunrun (NASDAQ:RUN) Price Target to $14.00

Sunrun (NASDAQ:RUN) had its price objective cut by investment analysts at TD Cowen from $18.00 to $14.00 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the energy company’s stock. TD Cowen’s target price would indicate a potential upside of 93.10% from the stock’s previous close.

Several other brokerages have also recently weighed in on RUN. Piper Sandler cut 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. Jefferies Financial Group dropped their target price on Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Barclays dropped their target price on Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, StockNews.com upgraded Sunrun to a “sell” rating in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.01.

Sunrun Trading Down 8.3 %

Shares of RUN stock opened at $7.25 on Friday. The stock has a market capitalization of $1.63 billion, a PE ratio of -3.98 and a beta of 2.59. Sunrun has a 1-year low of $6.99 and a 1-year high of $22.26. The business has a 50-day moving average of $9.28 and a 200 day moving average of $13.08. 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 Transactions at Sunrun

In related news, CFO Danny Abajian sold 3,734 shares of the firm’s stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.10, for a total value of $455,000.00. Following the transaction, the director now directly owns 941,753 shares of the company’s stock, valued at approximately $8,569,952.30. This trade represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,830 shares of company stock valued at $1,572,147. Corporate insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. boosted its stake in Sunrun by 593.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock valued at $111,263,000 after purchasing an additional 10,294,947 shares during the last quarter. Greenvale Capital LLP boosted its stake in Sunrun by 50.3% during the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock valued at $124,875,000 after purchasing an additional 4,516,793 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Sunrun during the 3rd quarter valued at $76,152,000. Sylebra Capital LLC boosted its stake in Sunrun by 124.0% during the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock valued at $61,819,000 after purchasing an additional 3,699,405 shares during the last quarter. Finally, Norges Bank purchased a new stake in Sunrun during the 4th quarter valued at $31,022,000. 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.