Piper Sandler Boosts Sunrun (NASDAQ:RUN) Price Target to $20.00

Sunrun (NASDAQ:RUN) had its price target upped by Piper Sandler from $15.00 to $20.00 in a research note issued to investors on Monday, Benzinga reports. Piper Sandler currently has an overweight rating on the energy company’s stock.

A number of other equities analysts have also issued reports on RUN. Morgan Stanley raised their price target on shares of Sunrun from $24.00 to $29.00 and gave the stock an overweight rating in a research report on Friday, June 14th. Jefferies Financial Group reduced their price target on shares of Sunrun from $32.00 to $26.00 and set a buy rating for the company in a research report on Thursday, May 9th. Susquehanna lifted their target price on shares of Sunrun from $23.00 to $24.00 and gave the company a positive rating in a report on Monday, July 15th. JPMorgan Chase & Co. lifted their target price on shares of Sunrun from $14.00 to $19.00 and gave the company an overweight rating in a report on Tuesday, July 16th. Finally, Mizuho cut their target price on shares of Sunrun from $28.00 to $23.00 and set a buy rating for the company in a report on Friday, April 19th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Sunrun has a consensus rating of Moderate Buy and an average target price of $21.42.

Sunrun Stock Performance

RUN opened at $17.48 on Monday. Sunrun has a 12-month low of $8.43 and a 12-month high of $22.16. The company has a current ratio of 1.31, a quick ratio of 0.99 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $3.87 billion, a PE ratio of -2.62 and a beta of 2.61. The firm has a 50 day moving average of $13.94 and a two-hundred day moving average of $13.15.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, May 8th. The energy company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The company had revenue of $458.20 million during the quarter, compared to analyst estimates of $471.38 million. During the same period last year, the firm posted ($1.12) EPS. Sunrun’s revenue for the quarter was down 22.3% compared to the same quarter last year. On average, analysts anticipate that Sunrun will post -1.25 EPS for the current year.

Insider Buying and Selling

In related news, CFO Danny Abajian sold 2,092 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $14.43, for a total value of $30,187.56. Following the completion of the sale, the chief financial officer now owns 288,448 shares of the company’s stock, valued at approximately $4,162,304.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Sunrun news, CFO Danny Abajian sold 2,092 shares of Sunrun stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $14.43, for a total transaction of $30,187.56. Following the sale, the chief financial officer now owns 288,448 shares of the company’s stock, valued at approximately $4,162,304.64. The sale was disclosed in a filing 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 on Thursday, June 20th. The stock was sold at an average price of $12.11, for a total transaction of $605,500.00. Following the sale, the director now directly owns 1,344,383 shares in the company, valued at approximately $16,280,478.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 255,712 shares of company stock valued at $3,706,261. 3.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Fifth Third Bancorp grew its holdings in shares of Sunrun by 76.9% in the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after purchasing an additional 764 shares during the period. BNP Paribas purchased a new stake in shares of Sunrun in the first quarter valued at about $37,000. CWM LLC grew its holdings in shares of Sunrun by 883.9% in the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after purchasing an additional 3,014 shares during the period. USCF Advisers LLC grew its holdings in shares of Sunrun by 130.0% in the fourth quarter. USCF Advisers LLC now owns 2,300 shares of the energy company’s stock valued at $45,000 after purchasing an additional 1,300 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Sunrun in the first quarter valued at about $53,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.