BMO Capital Markets Has Lowered Expectations for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its price target lowered by BMO Capital Markets from $20.00 to $11.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a market perform rating on the energy company’s stock.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. UBS Group lifted their price objective on Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. BNP Paribas lowered shares of Sunrun from an “outperform” rating to a “neutral” rating and set a $14.00 price target on the stock. in a report on Friday, November 8th. Jefferies Financial Group decreased their price objective on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $35.00 price objective on shares of Sunrun in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.54.

Sunrun Stock Performance

NASDAQ RUN opened at $10.91 on Monday. The company has a 50-day moving average of $15.86 and a 200-day moving average of $15.40. 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 $9.23 and a 12 month high of $22.26.

Insider Buying and Selling at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $14.60, for a total transaction of $730,000.00. Following the sale, the director now owns 1,142,446 shares in the company, valued at $16,679,711.60. This represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Paul S. Dickson sold 2,537 shares of Sunrun stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $18.23, for a total value of $46,249.51. Following the completion of the transaction, the executive now owns 427,883 shares of the company’s stock, valued at approximately $7,800,307.09. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,840 shares of company stock valued at $2,755,487 in the last three months. Corporate insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Centiva Capital LP grew its holdings in shares of Sunrun by 212.1% during the third quarter. Centiva Capital LP now owns 56,025 shares of the energy company’s stock valued at $1,012,000 after purchasing an additional 106,025 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Sunrun during the third quarter valued at $391,000. Erste Asset Management GmbH bought a new stake in shares of Sunrun during the 3rd quarter worth about $76,152,000. Edgestream Partners L.P. raised its holdings in Sunrun by 771.4% during the third quarter. Edgestream Partners L.P. now owns 88,968 shares of the energy company’s stock worth $1,607,000 after purchasing an additional 78,758 shares in the last quarter. Finally, Point72 Europe London LLP raised its stake in shares of Sunrun by 49.8% in the 3rd quarter. Point72 Europe London LLP now owns 401,084 shares of the energy company’s stock worth $7,244,000 after buying an additional 133,252 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

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.