TD Cowen Initiates Coverage on Sunrun (NASDAQ:RUN)

TD Cowen began coverage on shares of Sunrun (NASDAQ:RUN) in a research note released on Thursday, MarketBeat.com reports. The firm issued a buy rating and a $21.00 price objective on the energy company’s stock.

A number of other equities research analysts have also issued reports on the company. UBS Group dropped their target price on Sunrun from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Truist Financial reissued a “hold” rating and issued a $12.00 target price (down previously from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. Oppenheimer decreased their price target on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Barclays decreased their price target on Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Finally, Morgan Stanley decreased their price target on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.21.

Sunrun Stock Up 2.7 %

Shares of NASDAQ RUN traded up $0.25 during mid-day trading on Thursday, reaching $9.38. 1,989,589 shares of the company’s stock were exchanged, compared to its average volume of 11,646,547. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -5.15 and a beta of 2.54. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The business has a fifty day simple moving average of $12.09 and a 200 day simple moving average of $15.12. Sunrun has a twelve month low of $9.01 and a twelve month high of $22.26.

Insider Activity at Sunrun

In other Sunrun news, CEO Mary Powell sold 6,415 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.34, for a total value of $104,821.10. Following the completion of the sale, the chief executive officer now directly owns 569,368 shares of the company’s stock, valued at $9,303,473.12. This trade 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 the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.35, for a total value of $42,902.40. Following the completion of the sale, the insider now directly owns 305,636 shares of the company’s stock, valued at $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 169,691 shares of company stock worth $2,011,601 in the last 90 days. Corporate insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in Sunrun by 33.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock valued at $26,385,000 after purchasing an additional 367,835 shares during the last quarter. Erste Asset Management GmbH bought a new position in Sunrun during the 3rd quarter valued at approximately $76,152,000. Symmetry Investments LP bought a new position in Sunrun during the 2nd quarter valued at approximately $1,205,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in 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 valued at $45,426,000 after purchasing an additional 1,337,302 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of Sunrun during the 3rd quarter worth 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.