Mizuho Lowers Sunrun (NASDAQ:RUN) Price Target to $23.00

Sunrun (NASDAQ:RUN) had its target price reduced by Mizuho from $28.00 to $23.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the energy company’s stock. Mizuho’s target price indicates a potential upside of 124.39% from the company’s previous close.

RUN has been the subject of several other reports. Janney Montgomery Scott downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th. BMO Capital Markets raised their target price on shares of Sunrun from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, February 22nd. Truist Financial restated a “hold” rating and issued a $14.00 target price (down from $15.00) on shares of Sunrun in a research note on Monday, February 26th. Royal Bank of Canada lowered their target price on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. Finally, Piper Sandler lowered their target price on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Sunrun presently has a consensus rating of “Moderate Buy” and an average price target of $21.26.

Sunrun Price Performance

NASDAQ RUN opened at $10.25 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26. The firm’s 50 day moving average price is $12.36 and its 200-day moving average price is $13.18. Sunrun has a 52-week low of $8.43 and a 52-week high of $23.85. The company has a market cap of $2.25 billion, a PE ratio of -1.39 and a beta of 2.46.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. The business had revenue of $516.59 million for the quarter, compared to the consensus estimate of $499.74 million. Sell-side analysts forecast that Sunrun will post -1.74 EPS for the current fiscal year.

Insider Transactions at Sunrun

In related news, Director Alan Ferber bought 10,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $9.73 per share, for a total transaction of $97,300.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $97,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Lynn Michelle Jurich sold 2,836 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.01, for a total transaction of $28,388.36. Following the completion of the sale, the director now directly owns 1,399,810 shares of the company’s stock, valued at approximately $14,012,098.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Ferber bought 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $9.73 per share, with a total value of $97,300.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $97,300. The disclosure for this purchase can be found here. Insiders have sold a total of 301,760 shares of company stock worth $3,615,990 in the last ninety days. Insiders own 3.76% of the company’s stock.

Institutional Investors Weigh In On Sunrun

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Salem Investment Counselors Inc. grew its stake in shares of Sunrun by 3,750.0% in the first quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock worth $47,000 after acquiring an additional 1,500 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Sunrun by 76.9% in the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after purchasing an additional 764 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Sunrun by 149.7% in the 4th quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock valued at $37,000 after purchasing an additional 1,127 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Sunrun in the 3rd quarter valued at $26,000. Finally, Belpointe Asset Management LLC raised its holdings in shares of Sunrun by 735.2% in the 1st quarter. Belpointe Asset Management LLC now owns 2,113 shares of the energy company’s stock valued at $43,000 after purchasing an additional 1,860 shares in the last quarter. 91.69% of the stock is 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.