Piper Sandler Downgrades Sunrun (NASDAQ:RUN) to Neutral

Sunrun (NASDAQ:RUN) was downgraded by Piper Sandler from an “overweight” rating to a “neutral” rating in a note issued to investors on Friday,Briefing.com Automated Import 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 target would suggest a potential upside of 7.58% from the company’s previous close.

RUN has been the subject of several other research reports. Glj Research reissued a “sell” rating and issued a $7.78 target price on shares of Sunrun in a research note on Thursday, November 7th. Truist Financial reaffirmed a “hold” rating and set a $12.00 price objective (down previously from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. JPMorgan Chase & Co. upped their price objective on shares of Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Guggenheim downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Finally, UBS Group upped their price objective on shares of Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.49.

Sunrun Trading Up 0.2 %

Shares of RUN stock opened at $10.23 on Friday. The firm has a 50-day moving average price of $15.05 and a 200 day moving average price of $15.37. Sunrun has a twelve month low of $9.23 and a twelve month high of $22.26. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -5.62 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.

Insiders Place Their Bets

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $9.94, for a total transaction of $497,000.00. Following the completion of the transaction, the director now directly owns 1,092,446 shares in the company, valued at approximately $10,858,913.24. This represents a 4.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeanna Steele sold 2,357 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $42,968.11. Following the transaction, the insider now owns 308,260 shares of the company’s stock, valued at approximately $5,619,579.80. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 owned by company insiders.

Hedge Funds Weigh In On Sunrun

Institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC increased its position in Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after buying an additional 1,638 shares during the period. Blue Trust Inc. boosted its position in 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 period. Duncker Streett & Co. Inc. acquired a new stake in Sunrun during the 2nd quarter worth about $36,000. CWM LLC boosted 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 acquiring an additional 3,014 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Sunrun during the 2nd quarter worth about $45,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.