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

Sunrun (NASDAQ:RUN) had its target price cut by stock analysts at BMO Capital Markets from $11.00 to $9.00 in a report issued on Monday,Benzinga reports. The firm presently has a “market perform” rating on the energy company’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 25.79% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. BNP Paribas upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective on the stock in a report on Tuesday, January 7th. Oppenheimer reduced their target price on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Glj Research restated a “sell” rating and issued a $7.78 price target on shares of Sunrun in a research note on Thursday, November 7th. Finally, TD Cowen reduced their price objective on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.91.

Sunrun Trading Down 1.3 %

NASDAQ RUN opened at $7.16 on Monday. The stock has a market cap of $1.61 billion, a P/E ratio of -3.94 and a beta of 2.59. The company’s fifty day simple moving average is $9.28 and its 200-day simple moving average is $13.04. 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 52 week low of $6.99 and a 52 week high of $22.26.

Insider Activity at Sunrun

In other news, CEO Mary Powell sold 4,350 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $48,633.00. Following the completion of the sale, the chief executive officer now directly owns 560,321 shares of the company’s stock, valued at $6,264,388.78. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.10, for a total value of $455,000.00. Following the completion of the transaction, the director now directly owns 941,753 shares in the company, valued at $8,569,952.30. This represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,064 shares of company stock valued at $1,551,556 over the last 90 days. 3.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Sunrun by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company’s stock worth $219,679,000 after purchasing an additional 343,448 shares during the period. Greenvale Capital LLP lifted its holdings in shares of Sunrun by 50.3% in the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock valued at $124,875,000 after purchasing an additional 4,516,793 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in shares of Sunrun by 593.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock worth $111,263,000 after buying an additional 10,294,947 shares during the period. State Street Corp grew its holdings in shares of Sunrun by 0.6% during the third quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock valued at $165,424,000 after buying an additional 54,329 shares in the last quarter. Finally, Sylebra Capital LLC raised its position in Sunrun by 124.0% during the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock valued at $61,819,000 after buying an additional 3,699,405 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.