Susquehanna Trims Sunrun (NASDAQ:RUN) Target Price to $23.00

Sunrun (NASDAQ:RUN) had its price target dropped by Susquehanna from $25.00 to $23.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “positive” rating on the energy company’s stock. Susquehanna’s target price points to a potential upside of 99.83% from the stock’s current price.

A number of other research firms have also issued reports on RUN. Piper Sandler decreased their target price on Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Truist Financial restated a “hold” rating and issued a $14.00 price objective (down previously from $15.00) on shares of Sunrun in a research note on Monday, February 26th. BMO Capital Markets increased their price target on shares of Sunrun from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Thursday, February 22nd. Janney Montgomery Scott cut Sunrun from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th. Finally, Mizuho cut their target price on Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.16.

Sunrun Trading Down 2.3 %

RUN opened at $11.51 on Thursday. The stock has a market capitalization of $2.55 billion, a PE ratio of -1.56 and a beta of 2.50. Sunrun has a one year low of $8.43 and a one year high of $23.85. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26. The business’s 50 day moving average price is $11.35 and its 200 day moving average price is $13.14.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). The company 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%. As a group, equities research analysts expect that Sunrun will post -1.69 EPS for the current year.

Insider Transactions at Sunrun

In other Sunrun news, Director Alan Ferber purchased 10,000 shares of the stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $97,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Edward Harris Fenster sold 172,920 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total value of $2,066,394.00. Following the completion of the sale, the director now directly owns 1,261,317 shares in the company, valued at approximately $15,072,738.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alan Ferber acquired 10,000 shares of Sunrun stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $97,300. The disclosure for this purchase can be found here. Insiders sold a total of 301,760 shares of company stock worth $3,615,990 over the last ninety days. 3.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Sunrun by 35.9% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 14,182,106 shares of the energy company’s stock valued at $178,127,000 after buying an additional 3,748,696 shares during the period. Norges Bank bought a new position in shares of Sunrun in the fourth quarter valued at $23,186,000. Deutsche Bank AG increased its stake in Sunrun by 112.9% in the 3rd quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock worth $27,969,000 after purchasing an additional 1,180,823 shares in the last quarter. Greenvale Capital LLP lifted its position in shares of Sunrun by 15.3% in the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock valued at $162,929,000 after acquiring an additional 1,100,000 shares in the last quarter. Finally, Masters Capital Management LLC acquired a new stake in shares of Sunrun in the fourth quarter worth $19,630,000. Hedge funds and other 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.