Sunrun (NASDAQ:RUN) Price Target Raised to $13.00 at Susquehanna

Sunrun (NASDAQ:RUN) had its price target raised by Susquehanna from $12.00 to $13.00 in a research note published on Thursday,Benzinga reports. Susquehanna currently has a positive rating on the energy company’s stock.

Several other equities analysts have also recently issued reports on the stock. Morgan Stanley restated an “equal weight” rating and issued a $11.00 price target on shares of Sunrun in a research report on Wednesday, April 23rd. Citigroup reissued a “neutral” rating and issued a $7.00 price target on shares of Sunrun in a research report on Thursday, April 17th. BMO Capital Markets cut Sunrun from a “hold” rating to a “strong sell” rating and dropped their price objective for the company from $9.00 to $4.00 in a research note on Thursday, May 22nd. Wall Street Zen upgraded Sunrun from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Jefferies Financial Group upgraded Sunrun from an “underperform” rating to a “hold” rating and increased their price target for the stock from $5.00 to $11.00 in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.79.

Sunrun Stock Up 32.3%

RUN stock opened at $12.00 on Thursday. The business’s 50 day simple moving average is $9.18 and its 200 day simple moving average is $8.27. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 3.89. The firm has a market capitalization of $2.74 billion, a PE ratio of -1.03 and a beta of 2.37. Sunrun has a 1-year low of $5.38 and a 1-year high of $22.26.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, August 6th. The energy company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $1.25. Sunrun had a positive return on equity of 13.61% and a negative net margin of 120.59%. The business had revenue of $569.34 million for the quarter, compared to the consensus estimate of $555.42 million. During the same quarter in the prior year, the business posted $0.55 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts anticipate that Sunrun will post -0.43 EPS for the current year.

Insider Buying and Selling at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 8,010 shares of the business’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $10.81, for a total value of $86,588.10. Following the transaction, the executive owned 679,044 shares in the company, valued at approximately $7,340,465.64. The trade was a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Danny Abajian sold 8,909 shares of the company’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $10.80, for a total transaction of $96,217.20. Following the transaction, the chief financial officer directly owned 446,797 shares of the company’s stock, valued at approximately $4,825,407.60. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,939 shares of company stock worth $430,264 over the last ninety days. 3.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Greenvale Capital LLP increased its position in Sunrun by 50.3% during the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock valued at $124,875,000 after purchasing an additional 4,516,793 shares during the period. Alyeska Investment Group L.P. boosted its stake in shares of Sunrun by 593.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock valued at $111,263,000 after purchasing an additional 10,294,947 shares in the last quarter. Sylebra Capital LLC increased its position in shares of Sunrun by 23.8% during the first quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company’s stock valued at $48,482,000 after buying an additional 1,590,169 shares during the period. PGGM Investments raised its stake in Sunrun by 316.6% in the second quarter. PGGM Investments now owns 7,007,258 shares of the energy company’s stock worth $57,319,000 after buying an additional 5,325,332 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Sunrun by 27.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,621,303 shares of the energy company’s stock valued at $61,252,000 after acquiring an additional 1,427,858 shares in the last quarter. 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.