TD Cowen Issues Pessimistic Forecast for Sunrun (NASDAQ:RUN) Stock Price

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

Other research analysts also recently issued reports about the stock. Jefferies Financial Group cut their price target on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Glj Research reissued a “sell” rating and set a $7.78 price objective on shares of Sunrun in a research note on Thursday, November 7th. Roth Mkm reduced their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Truist Financial reissued a “hold” rating and issued a $12.00 price target (down previously from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. Finally, Piper Sandler downgraded Sunrun from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $11.00 in a research report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.01.

Sunrun Trading Down 5.7 %

Shares of Sunrun stock opened at $7.91 on Friday. The company’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 12-month low of $7.87 and a 12-month high of $22.26. The company has a market cap of $1.77 billion, a price-to-earnings ratio of -4.35 and a beta of 2.59.

Insider Transactions at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the sale, the director now owns 1,041,753 shares of the company’s stock, valued at $9,813,313.26. The trade was a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Paul S. Dickson sold 2,968 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $33,182.24. Following the transaction, the executive now directly owns 418,492 shares of the company’s stock, valued at $4,678,740.56. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,830 shares of company stock worth $1,572,147. 3.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RUN. Blue Trust Inc. raised its position in shares of Sunrun by 385.5% in the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,465 shares during the last quarter. International Assets Investment Management LLC lifted its position 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 period. First Trust Direct Indexing L.P. boosted its holdings in Sunrun by 21.7% in the third quarter. First Trust Direct Indexing L.P. now owns 20,612 shares of the energy company’s stock worth $372,000 after purchasing an additional 3,676 shares during the last quarter. Pinnacle Associates Ltd. bought a new stake in shares of Sunrun in the third quarter worth $255,000. Finally, Van ECK Associates Corp grew its stake in shares of Sunrun by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock valued at $905,000 after purchasing an additional 886 shares during the period. 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.