Sunrun (NASDAQ:RUN) Price Target Cut to $10.00 by Analysts at Susquehanna

Sunrun (NASDAQ:RUN) had its price objective reduced by Susquehanna from $13.00 to $10.00 in a report issued on Monday,Benzinga reports. Susquehanna currently has a positive rating on the energy company’s stock.

A number of other research firms also recently issued reports on RUN. JPMorgan Chase & Co. cut their price target on Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Truist Financial reaffirmed a “hold” rating and set a $9.00 target price (down previously from $12.00) on shares of Sunrun in a research report on Monday, March 3rd. BNP Paribas raised Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target for the company in a research report on Tuesday, January 7th. Roth Capital set a $20.00 price objective on shares of Sunrun in a report on Friday, February 28th. Finally, StockNews.com upgraded shares of Sunrun to a “sell” rating in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sunrun presently has an average rating of “Moderate Buy” and a consensus price target of $16.58.

Sunrun Stock Up 8.4 %

Sunrun stock opened at $6.82 on Monday. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -3.75 and a beta of 2.74. The firm’s fifty day moving average price is $7.14 and its two-hundred day moving average price is $10.10. Sunrun has a 1-year low of $5.45 and a 1-year high of $22.26. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Insider Buying and Selling

In related news, insider Jeanna Steele sold 9,942 shares of Sunrun stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $67,009.08. Following the completion of the transaction, the insider now directly owns 291,238 shares in the company, valued at approximately $1,962,944.12. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mary Powell sold 31,197 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $210,267.78. Following the sale, the chief executive officer now directly owns 534,615 shares in the company, valued at $3,603,305.10. The trade was a 5.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,540 shares of company stock valued at $1,530,444. 3.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RUN. Alyeska Investment Group L.P. increased its holdings 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 worth $111,263,000 after acquiring an additional 10,294,947 shares during the period. Greenvale Capital LLP grew its position in shares of 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 in the last quarter. Sylebra Capital LLC increased its holdings in shares of Sunrun by 124.0% in 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. Norges Bank purchased a new stake in shares of Sunrun in the fourth quarter worth $31,022,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new stake in Sunrun during the fourth quarter valued at $18,500,000. Hedge funds and other 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.