Sunrun (NASDAQ:RUN) Price Target Cut to $14.00 by Analysts at TD Cowen

Sunrun (NASDAQ:RUN) had its target price reduced by investment analysts at TD Cowen from $18.00 to $14.00 in a research note issued on Friday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the energy company’s stock. TD Cowen’s target price would indicate a potential upside of 76.99% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. StockNews.com raised Sunrun to a “sell” rating in a research note on Friday, December 20th. Glj Research reiterated a “sell” rating and issued a $7.78 target price on shares of Sunrun in a report on Thursday, November 7th. BMO Capital Markets decreased their price target on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research note on Monday, November 11th. Oppenheimer lowered their price objective on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Sunrun presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.01.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $7.91 on Friday. The firm has a market capitalization of $1.77 billion, a P/E ratio of -4.35 and a beta of 2.59. The firm’s 50-day moving average price is $9.33 and its 200-day moving average price is $13.19. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. Sunrun has a 1-year low of $7.87 and a 1-year high of $22.26.

Insider Transactions at Sunrun

In other news, 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 transaction of $455,000.00. Following the completion of the sale, the director now owns 941,753 shares in the company, valued at $8,569,952.30. This trade represents a 5.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Danny Abajian sold 3,734 shares of Sunrun 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 sale, the chief financial officer now directly owns 257,969 shares in the company, valued at $2,884,093.42. This trade represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,830 shares of company stock worth $1,572,147 in the last ninety days. Company insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in Sunrun by 1,706.3% during the third 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 during the last quarter. Blue Trust Inc. lifted its stake in shares of Sunrun by 385.5% during the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after buying an additional 1,465 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Sunrun in the 3rd quarter worth approximately $44,000. Aster Capital Management DIFC Ltd purchased a new position in Sunrun in the 4th quarter valued at approximately $29,000. Finally, Newbridge Financial Services Group Inc. grew its stake in Sunrun by 133.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after buying an additional 2,000 shares in the last quarter. 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.