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

Sunrun (NASDAQ:RUN) had its price objective cut by Mizuho from $28.00 to $23.00 in a research note published on Friday morning, Benzinga reports. They currently have a buy rating on the energy company’s stock.

RUN has been the subject of a number of other research reports. Royal Bank of Canada lowered their price target on Sunrun from $17.00 to $15.00 and set an outperform rating for the company in a research report on Friday, March 15th. Oppenheimer restated an outperform rating and set a $19.00 price objective on shares of Sunrun in a research note on Thursday, February 22nd. Susquehanna restated a positive rating and set a $25.00 price objective on shares of Sunrun in a research note on Friday, April 5th. Piper Sandler reduced their price objective on Sunrun from $31.00 to $27.00 and set an overweight rating on the stock in a research note on Thursday, February 22nd. Finally, Truist Financial restated a hold rating and set a $14.00 price objective (down previously from $15.00) on shares of Sunrun in a research note on Monday, February 26th. One research analyst has 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. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $21.26.

Sunrun Price Performance

Sunrun stock opened at $10.25 on Friday. Sunrun has a 12 month low of $8.43 and a 12 month high of $23.85. The business has a 50 day simple moving average of $12.36 and a 200-day simple moving average of $13.16. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26.

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

Insider Activity

In other Sunrun news, Director Lynn Michelle Jurich sold 4,830 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $12.12, for a total transaction of $58,539.60. Following the completion of the transaction, the director now directly owns 1,403,915 shares of the company’s stock, valued at approximately $17,015,449.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Lynn Michelle Jurich sold 4,830 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $12.12, for a total value of $58,539.60. Following the sale, the director now directly owns 1,403,915 shares in the company, valued at approximately $17,015,449.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alan Ferber bought 10,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $9.73 per share, for a total transaction of $97,300.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $97,300. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 301,760 shares of company stock valued at $3,615,990. 3.76% of the stock is currently owned by company insiders.

Institutional Trading of Sunrun

Hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. raised its stake in shares of Sunrun by 24.2% in the 1st quarter. American Century Companies Inc. now owns 13,754 shares of the energy company’s stock worth $417,000 after buying an additional 2,679 shares in the last quarter. US Bancorp DE lifted its holdings in Sunrun by 123.5% in the 1st quarter. US Bancorp DE now owns 6,534 shares of the energy company’s stock valued at $198,000 after acquiring an additional 3,611 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Sunrun by 37.1% in the 1st quarter. Private Advisor Group LLC now owns 19,786 shares of the energy company’s stock worth $601,000 after purchasing an additional 5,349 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Sunrun by 58.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,836 shares of the energy company’s stock worth $329,000 after purchasing an additional 4,010 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Sunrun by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 75,865 shares of the energy company’s stock worth $2,304,000 after buying an additional 7,233 shares in the last quarter. 91.69% of the stock is currently owned by 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.