Royal Bank of Canada Lowers Sunrun (NASDAQ:RUN) Price Target to $14.00

Sunrun (NASDAQ:RUN - Get Free Report) had its price target cut by analysts at Royal Bank of Canada from $17.00 to $14.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the energy company's stock. Royal Bank of Canada's target price would suggest a potential upside of 126.90% from the company's previous close.

A number of other equities research analysts have also issued reports on the company. StockNews.com raised Sunrun to a "sell" rating in a research report on Friday, December 20th. UBS Group upgraded Sunrun from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $14.00 to $17.00 in a report on Friday, January 10th. BMO Capital Markets decreased their target price on shares of Sunrun from $11.00 to $9.00 and set a "market perform" rating for the company in a report on Monday. Glj Research restated a "sell" rating and set a $7.78 price target on shares of Sunrun in a report on Thursday, November 7th. Finally, Oppenheimer decreased their price objective on shares of Sunrun from $22.00 to $20.00 and set an "outperform" rating for the company in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.61.

Sunrun Price Performance

Sunrun stock traded down $1.08 during mid-day trading on Monday, hitting $6.17. The company's stock had a trading volume of 24,935,388 shares, compared to its average volume of 10,638,377. The stock has a market capitalization of $1.38 billion, a P/E ratio of -3.39 and a beta of 2.59. Sunrun has a twelve month low of $6.00 and a twelve month high of $22.26. The stock's fifty day moving average price is $9.20 and its two-hundred day moving average price is $12.94. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Insider Activity

In other news, CEO Mary Powell sold 4,350 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $48,633.00. Following the sale, the chief executive officer now directly owns 560,321 shares in the company, valued at approximately $6,264,388.78. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.10, for a total value of $455,000.00. Following the completion of the transaction, the director now directly owns 941,753 shares of the company's stock, valued at approximately $8,569,952.30. This trade represents a 5.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 163,064 shares of company stock valued at $1,551,556. Insiders own 3.77% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. boosted its holdings in Sunrun by 593.9% during the fourth 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. Greenvale Capital LLP boosted its stake in Sunrun by 50.3% in the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock valued at $124,875,000 after buying an additional 4,516,793 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Sunrun in the third quarter valued at $76,152,000. Sylebra Capital LLC raised its stake in Sunrun by 124.0% during the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock worth $61,819,000 after acquiring an additional 3,699,405 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Sunrun during the fourth quarter valued at $31,022,000. 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.