Sunrun (NASDAQ:RUN) Coverage Initiated by Analysts at TD Cowen

Investment analysts at TD Cowen initiated coverage on shares of Sunrun (NASDAQ:RUN) in a note issued to investors on Thursday, Marketbeat reports. The firm set a “buy” rating and a $21.00 price target on the energy company’s stock. TD Cowen’s price objective would indicate a potential upside of 129.51% from the company’s previous close.

RUN has been the subject of several other research reports. Guggenheim cut shares of Sunrun from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Piper Sandler lowered Sunrun from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $11.00 in a report on Friday, November 22nd. Roth Mkm cut their price target on Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 8th. BMO Capital Markets reduced their price target on Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday, November 11th. Finally, Oppenheimer dropped their price objective on Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.21.

Sunrun Stock Performance

RUN stock opened at $9.15 on Thursday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. Sunrun has a 1-year low of $9.13 and a 1-year high of $22.26. The business has a 50-day moving average price of $12.22 and a 200 day moving average price of $15.16. The company has a market capitalization of $2.05 billion, a P/E ratio of -5.03 and a beta of 2.54.

Insider Buying and Selling at Sunrun

In other Sunrun news, CEO Mary Powell sold 6,415 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $16.34, for a total value of $104,821.10. Following the transaction, the chief executive officer now owns 569,368 shares of the company’s stock, valued at $9,303,473.12. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeanna Steele sold 2,624 shares of Sunrun stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $42,902.40. Following the sale, the insider now owns 305,636 shares of the company’s stock, valued at approximately $4,997,148.60. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,691 shares of company stock valued at $1,540,601 over the last ninety days. Corporate insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

A number of institutional investors have recently modified their holdings of RUN. Greenvale Capital LLP grew its position in Sunrun by 20.5% in the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after acquiring an additional 2,000,000 shares in the last quarter. State Street Corp increased its stake in Sunrun by 0.6% in the third quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock valued at $165,424,000 after purchasing an additional 54,329 shares during the last quarter. Geode Capital Management LLC lifted its position in Sunrun by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after acquiring an additional 30,549 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Sunrun by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock worth $52,025,000 after buying an additional 729,633 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in Sunrun during the third quarter worth approximately $76,152,000. 91.69% of the stock is owned by institutional investors and hedge funds.

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.