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

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

Other analysts also recently issued reports about the company. The Goldman Sachs Group restated a “buy” rating and set a $20.00 price objective on shares of Sunrun in a report on Wednesday, September 25th. Oppenheimer dropped their price objective on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Roth Mkm dropped their price objective on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 8th. Evercore ISI dropped their price objective on Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Jefferies Financial Group dropped their price objective on Sunrun from $31.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus 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. Sunrun has a fifty-two week low of $9.23 and a fifty-two week high of $22.26. The firm has a market cap of $2.36 billion, a PE ratio of -5.77 and a beta of 2.61. The business’s fifty day moving average is $14.88 and its two-hundred day moving average is $15.39. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Insiders Place Their Bets

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $9.94, for a total value of $497,000.00. Following the completion of the transaction, the director now owns 1,092,446 shares of the company’s stock, valued at approximately $10,858,913.24. This trade represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mary Powell sold 2,148 shares of Sunrun stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total transaction of $40,360.92. Following the completion of the transaction, the chief executive officer now directly owns 579,193 shares of the company’s stock, valued at approximately $10,883,036.47. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 196,795 shares of company stock worth $3,071,225. Company insiders own 3.77% of the company’s stock.

Institutional Trading of Sunrun

A number of institutional investors have recently bought and sold shares of RUN. International Assets Investment Management LLC raised its position in shares of Sunrun by 1,706.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after buying an additional 1,638 shares in the last quarter. Blue Trust Inc. raised its position in shares of Sunrun by 385.5% in the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after buying an additional 1,465 shares in the last quarter. Duncker Streett & Co. Inc. acquired a new position in shares of Sunrun in the 2nd quarter valued at approximately $36,000. CWM LLC increased its position in Sunrun by 883.9% during the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after purchasing an additional 3,014 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Sunrun during the 2nd quarter worth approximately $45,000. Institutional investors own 91.69% of the company’s stock.

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.