Mizuho Trims Sunrun (NASDAQ:RUN) Target Price to $23.00

Sunrun (NASDAQ:RUN) had its price objective lowered by Mizuho from $28.00 to $23.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the energy company’s stock.

Several other research firms have also recently issued reports on RUN. Royal Bank of Canada cut their price objective on Sunrun from $17.00 to $15.00 and set an outperform rating for the company in a research report on Friday, March 15th. The Goldman Sachs Group lifted their price objective on Sunrun from $20.00 to $21.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. Susquehanna reiterated a positive rating and set a $25.00 price objective on shares of Sunrun in a research report on Friday, April 5th. Truist Financial reiterated a hold rating and set a $14.00 price objective (down previously from $15.00) on shares of Sunrun in a research report on Monday, February 26th. Finally, KeyCorp reiterated a sector weight rating on shares of Sunrun in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Sunrun has a consensus rating of Moderate Buy and a consensus price target of $21.26.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $10.05 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.26 and a quick ratio of 0.96. The stock has a fifty day moving average price of $12.22 and a 200 day moving average price of $13.20. Sunrun has a 1-year low of $8.43 and a 1-year high of $23.85. The company has a market cap of $2.21 billion, a PE ratio of -1.36 and a beta of 2.46.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($1.20). Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. The company had revenue of $516.59 million for the quarter, compared to analyst estimates of $499.74 million. Sell-side analysts forecast that Sunrun will post -1.74 EPS for the current year.

Insider Activity

In other news, Director Lynn Michelle Jurich sold 2,836 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.01, for a total transaction of $28,388.36. Following the sale, the director now directly owns 1,399,810 shares of the company’s stock, valued at $14,012,098.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Lynn Michelle Jurich sold 2,836 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.01, for a total transaction of $28,388.36. Following the transaction, the director now directly owns 1,399,810 shares of the company’s stock, valued at $14,012,098.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mary Powell sold 5,424 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $12.12, for a total value of $65,738.88. Following the transaction, the chief executive officer now directly owns 411,628 shares in the company, valued at $4,988,931.36. The disclosure for this sale can be found here. Insiders sold a total of 301,760 shares of company stock worth $3,615,990 over the last 90 days. 3.76% of the stock is currently owned by company insiders.

Institutional Trading of Sunrun

Several large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new stake in Sunrun during the 3rd quarter valued at approximately $26,000. Vontobel Holding Ltd. raised its holdings in Sunrun by 167.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 276,923 shares of the energy company’s stock valued at $3,478,000 after acquiring an additional 173,477 shares in the last quarter. Caliber Wealth Management LLC raised its holdings in shares of Sunrun by 31.3% in the 3rd quarter. Caliber Wealth Management LLC now owns 184,594 shares of the energy company’s stock worth $2,319,000 after buying an additional 44,012 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new position in shares of Sunrun in the 3rd quarter worth approximately $882,000. Finally, SG Americas Securities LLC acquired a new position in shares of Sunrun in the 3rd quarter worth approximately $600,000. Institutional investors 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.