Royal Bank of Canada Cuts Sunrun (NASDAQ:RUN) Price Target to $14.00

Sunrun (NASDAQ:RUN) had its price target cut by Royal Bank of Canada from $17.00 to $14.00 in a research note released on Monday,Benzinga reports. They currently have an outperform rating on the energy company’s stock.

RUN has been the topic of several other reports. BNP Paribas raised shares of 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. StockNews.com raised shares of Sunrun to a “sell” rating in a report on Friday, December 20th. Guggenheim downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. The Goldman Sachs Group dropped their price objective on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Monday. Finally, Jefferies Financial Group dropped their price objective on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.51.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $6.90 on Monday. The company’s 50-day moving average is $9.13 and its 200 day moving average is $12.85. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The company has a market capitalization of $1.55 billion, a P/E ratio of -3.79 and a beta of 2.59. Sunrun has a fifty-two week low of $5.93 and a fifty-two week high of $22.26.

Insider Buying and Selling

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the transaction, the director now directly owns 1,041,753 shares of the company’s stock, valued at approximately $9,813,313.26. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Paul S. Dickson sold 2,968 shares of Sunrun stock in a transaction that occurred on Monday, January 6th. The stock was 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 in the company, valued at $4,678,740.56. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,064 shares of company stock worth $1,551,556. Insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in Sunrun by 1.8% in the third quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock valued at $905,000 after acquiring an additional 886 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Sunrun by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company’s stock valued at $229,000 after acquiring an additional 1,360 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,638 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in Sunrun by 6.8% in the fourth quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company’s stock valued at $253,000 after acquiring an additional 1,749 shares in the last quarter. Finally, Drive Wealth Management LLC boosted its holdings in Sunrun by 4.5% in the third quarter. Drive Wealth Management LLC now owns 43,327 shares of the energy company’s stock valued at $782,000 after acquiring an additional 1,884 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other 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.