Sunrun (NASDAQ:RUN) Given New $13.00 Price Target at Mizuho

Sunrun (NASDAQ:RUN) had its price objective lowered by Mizuho from $16.00 to $13.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the energy company’s stock.

A number of other equities research analysts have also recently commented on RUN. Morgan Stanley reiterated an “equal weight” rating and issued a $11.00 price target on shares of Sunrun in a research note on Wednesday, April 23rd. Roth Capital set a $20.00 price objective on Sunrun in a research note on Friday, February 28th. Citigroup restated a “neutral” rating and issued a $7.00 price objective on shares of Sunrun in a research note on Thursday, April 17th. BNP Paribas Exane cut Sunrun from an “outperform” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research note on Thursday, May 22nd. Finally, BMO Capital Markets cut Sunrun from a “hold” rating to a “strong sell” rating and reduced their price objective for the stock from $9.00 to $4.00 in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Sunrun has a consensus rating of “Hold” and a consensus target price of $14.10.

Sunrun Trading Down 4.7%

Shares of NASDAQ RUN opened at $7.14 on Monday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The stock has a market capitalization of $1.63 billion, a P/E ratio of -3.92 and a beta of 2.66. Sunrun has a 1-year low of $5.45 and a 1-year high of $22.26. The business has a fifty day moving average price of $7.63 and a 200 day moving average price of $8.59.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.42. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The company had revenue of $504.27 million during the quarter, compared to analysts’ expectations of $487.29 million. During the same period last year, the business posted ($0.40) earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Equities research analysts expect that Sunrun will post -0.43 EPS for the current fiscal year.

Insider Transactions at Sunrun

In related news, CFO Danny Abajian sold 16,927 shares of Sunrun stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $114,087.98. Following the transaction, the chief financial officer now owns 231,279 shares in the company, valued at approximately $1,558,820.46. This trade represents a 6.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Paul S. Dickson sold 19,343 shares of Sunrun stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $130,371.82. Following the transaction, the executive now owns 399,729 shares in the company, valued at approximately $2,694,173.46. The trade was a 4.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,540 shares of company stock valued at $595,944 over the last ninety days. Insiders own 3.37% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Institutional investors have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. raised its position in Sunrun by 593.9% in the fourth 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 period. Greenvale Capital LLP raised its position in Sunrun by 50.3% in the fourth 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 period. Sylebra Capital LLC raised its position in Sunrun by 124.0% in the fourth 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 period. Norges Bank purchased a new stake in Sunrun in the fourth quarter valued at $31,022,000. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in Sunrun in the fourth quarter valued at $18,500,000. Hedge funds and other institutional investors 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.