Sunrun (NASDAQ:RUN) Rating Lowered to “Neutral” at Piper Sandler

Sunrun (NASDAQ:RUN) was downgraded by equities research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued on Friday, Marketbeat.com reports. They presently have a $11.00 price objective on the energy company’s stock, down from their prior price objective of $23.00. Piper Sandler’s target price suggests a potential upside of 4.66% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Susquehanna reduced their price target on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Guggenheim downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. The Goldman Sachs Group reiterated a “buy” rating and issued a $20.00 price target on shares of Sunrun in a report on Wednesday, September 25th. BMO Capital Markets reduced their target price on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating on the stock in a report on Monday, November 11th. Finally, Barclays reduced their target price on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $19.49.

Sunrun Trading Up 2.8 %

Shares of Sunrun stock opened at $10.51 on Friday. The company’s fifty day simple moving average is $14.88 and its 200-day simple moving average is $15.39. The stock has a market capitalization of $2.36 billion, a PE ratio of -5.77 and a beta of 2.61. Sunrun has a 1-year low of $9.23 and a 1-year high of $22.26. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Insider Transactions at Sunrun

In other news, CFO Danny Abajian sold 2,141 shares of Sunrun stock in a transaction on Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $39,030.43. Following the transaction, the chief financial officer now directly owns 276,119 shares of the company’s stock, valued at $5,033,649.37. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lynn Michelle Jurich sold 1,937 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $18.23, for a total transaction of $35,311.51. Following the completion of the transaction, the director now directly owns 1,242,446 shares in the company, valued at $22,649,790.58. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,795 shares of company stock worth $3,071,225. 3.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunrun

Several institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of Sunrun by 1.5% in the 2nd quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock worth $538,000 after acquiring an additional 691 shares during the period. Creative Planning grew its holdings in Sunrun by 0.3% in the third quarter. Creative Planning now owns 290,259 shares of the energy company’s stock valued at $5,242,000 after purchasing an additional 784 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Sunrun by 1.8% in the third quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock valued at $905,000 after buying an additional 886 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Sunrun by 6.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,690 shares of the energy company’s stock worth $186,000 after buying an additional 895 shares during the last quarter. Finally, &PARTNERS boosted its position in shares of Sunrun by 1.6% in the 2nd quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock worth $698,000 after buying an additional 1,019 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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.