Royal Bank of Canada Issues Pessimistic Forecast for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its target price decreased by stock analysts at Royal Bank of Canada from $17.00 to $14.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the energy company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 108.18% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. Jefferies Financial Group decreased 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, January 28th. Morgan Stanley decreased their price target on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Guggenheim lowered Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their price objective on Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Finally, Piper Sandler lowered Sunrun from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $11.00 in a report on Friday, November 22nd. Two equities 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 company’s stock. According to data from MarketBeat.com, Sunrun has a consensus rating of “Moderate Buy” and a consensus price target of $17.61.

Sunrun Stock Down 7.2 %

Shares of Sunrun stock traded down $0.53 on Monday, hitting $6.73. 5,411,966 shares of the company traded hands, compared to its average volume of 10,122,640. The company has a market cap of $1.51 billion, a PE ratio of -3.71 and a beta of 2.59. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. Sunrun has a 12-month low of $6.80 and a 12-month high of $22.26. The company has a 50-day moving average price of $9.28 and a 200 day moving average price of $13.04.

Insider Buying and Selling at Sunrun

In related news, CEO Mary Powell sold 4,350 shares of the business’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 $48,633.00. Following the completion of the transaction, the chief executive officer now owns 560,321 shares in the company, valued at approximately $6,264,388.78. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $8,569,952.30. This represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 163,064 shares of company stock valued at $1,551,556. 3.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunrun

Several institutional investors have recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Sunrun in the fourth quarter worth $18,500,000. Principal Financial Group Inc. increased its position in shares of Sunrun by 33.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock worth $26,385,000 after purchasing an additional 367,835 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Sunrun during the 3rd quarter worth approximately $76,152,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Sunrun by 113.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock worth $45,426,000 after purchasing an additional 1,337,302 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Sunrun in the 3rd quarter valued at approximately $955,000. Institutional investors own 91.69% of the company’s stock.

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.