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

Piper Sandler lowered shares of Sunrun (NASDAQ:RUN) from an overweight rating to a neutral rating in a report issued on Friday, Marketbeat.com reports. They currently have $11.00 price objective on the energy company’s stock, down from their previous price objective of $23.00.

A number of other equities research analysts have also recently commented on RUN. Jefferies Financial Group cut their target price on Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. The Goldman Sachs Group reissued a “buy” rating and set a $20.00 price target on shares of Sunrun in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft raised their price target on Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a research note on Thursday, August 8th. BMO Capital Markets reduced their price objective on Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday, November 11th. Finally, Morgan Stanley dropped their target price on Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Sunrun has a consensus rating of “Hold” and an average price target of $19.49.

Sunrun Trading Up 9.6 %

NASDAQ:RUN opened at $11.52 on Friday. The company has a 50-day moving average price of $14.72 and a 200-day moving average price of $15.41. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -6.33 and a beta of 2.61. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. Sunrun has a 12 month low of $9.23 and a 12 month high of $22.26.

Insiders Place Their Bets

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Danny Abajian sold 9,694 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total value of $191,456.50. Following the sale, the chief financial officer now directly owns 278,260 shares in the company, valued at $5,495,635. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 196,795 shares of company stock worth $3,071,225 in the last 90 days. 3.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

A number of institutional investors and hedge funds have recently modified their holdings of RUN. International Assets Investment Management LLC grew its holdings in Sunrun by 1,706.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after purchasing an additional 1,638 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Sunrun by 385.5% during the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after acquiring an additional 1,465 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Sunrun during the 3rd quarter valued at $44,000. Duncker Streett & Co. Inc. bought a new position in Sunrun in the 2nd quarter valued at $36,000. Finally, CWM LLC grew its position in Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after acquiring an additional 3,014 shares during the last quarter. Hedge funds and other 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.