Sunrun (NASDAQ:RUN) Price Target Cut to $27.00 by Analysts at Piper Sandler

Sunrun (NASDAQ:RUN – Get Rating) had its price objective cut by Piper Sandler from $30.00 to $27.00 in a report released on Monday morning, The Fly reports.

Other analysts have also issued reports about the stock. Oppenheimer decreased their price target on shares of Sunrun from $70.00 to $49.00 and set an outperform rating for the company in a research report on Thursday, February 23rd. StockNews.com upgraded shares of Sunrun to a sell rating in a report on Tuesday, April 25th. Capital One Financial reaffirmed an overweight rating and set a $32.00 price objective on shares of Sunrun in a research note on Friday, April 14th. Bank of America raised their price objective on shares of Sunrun from $40.00 to $46.00 and gave the stock a buy rating in a research note on Thursday, February 23rd. Finally, Wells Fargo & Company dropped their price objective on shares of Sunrun from $32.00 to $31.00 and set an overweight rating on the stock in a research note on Friday, February 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Sunrun currently has an average rating of Moderate Buy and a consensus target price of $36.81.

Sunrun Trading Up 0.9 %

RUN stock opened at $16.66 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.81 and a debt-to-equity ratio of 1.20. Sunrun has a twelve month low of $14.55 and a twelve month high of $39.13. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 238.03 and a beta of 2.34. The firm’s fifty day simple moving average is $18.49 and its two-hundred day simple moving average is $23.64.

Sunrun (NASDAQ:RUN – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The energy company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($1.08). Sunrun had a return on equity of 0.28% and a net margin of 0.86%. The business had revenue of $589.85 million during the quarter, compared to analysts’ expectations of $517.78 million. During the same period last year, the company earned ($0.42) earnings per share. The firm’s revenue was up 19.0% compared to the same quarter last year. As a group, analysts anticipate that Sunrun will post -1.37 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Edward Harris Fenster sold 25,000 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $16.34, for a total value of $408,500.00. Following the completion of the sale, the director now directly owns 1,267,994 shares of the company’s stock, valued at $20,719,021.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Edward Harris Fenster sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $16.34, for a total transaction of $408,500.00. Following the completion of the sale, the director now owns 1,267,994 shares in the company, valued at $20,719,021.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michelle Philpot sold 1,512 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $25.51, for a total value of $38,571.12. Following the completion of the transaction, the chief accounting officer now owns 35,418 shares of the company’s stock, valued at approximately $903,513.18. The disclosure for this sale can be found here. Insiders sold a total of 203,012 shares of company stock worth $4,464,534 over the last 90 days. 4.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its stake in shares of Sunrun by 64.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,149 shares of the energy company’s stock valued at $28,000 after acquiring an additional 449 shares during the last quarter. RFP Financial Group LLC purchased a new position in shares of Sunrun in the 4th quarter worth about $40,000. 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 worth $43,000 after purchasing an additional 1,860 shares during the period. Salem Investment Counselors Inc. raised its holdings in shares of Sunrun by 3,750.0% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock worth $47,000 after purchasing an additional 1,500 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Sunrun by 40.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,075 shares of the energy company’s stock worth $62,000 after purchasing an additional 879 shares during the period. Hedge funds and other institutional investors own 86.21% of the company’s stock.

Sunrun Company Profile

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Sunrun, Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems. It sells solar service offerings and installs solar energy systems for homeowners. Customers can access its products through three channels: direct-to-consumer, solar partnerships, and strategic partnerships.