Piper Sandler Downgrades Sunrun (NASDAQ:RUN) to Neutral

Sunrun (NASDAQ:RUN) was downgraded by equities research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a report released on Friday,Briefing.com Automated Import reports. They currently have a $11.00 price target on the energy company’s stock, down from their previous price target of $23.00. Piper Sandler’s price objective would suggest a potential upside of 7.58% from the company’s previous close.

Several other research firms have also commented on RUN. Roth Mkm reduced their price objective on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Barclays dropped their target price on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Morgan Stanley dropped their target price on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Jefferies Financial Group dropped their target price on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, Glj Research reissued a “sell” rating and set a $7.78 target price on shares of Sunrun in a research report on Thursday, November 7th. Two research 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.49.

Sunrun Trading Up 0.2 %

NASDAQ:RUN opened at $10.23 on Friday. Sunrun has a one year low of $9.23 and a one year high of $22.26. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The firm has a market cap of $2.29 billion, a P/E ratio of -5.62 and a beta of 2.61. The firm has a 50-day simple moving average of $15.05 and a 200-day simple moving average of $15.37.

Insider Activity

In related news, CFO Danny Abajian sold 4,869 shares of Sunrun stock in a transaction on Monday, October 7th. The shares were sold at an average price of $16.35, for a total value of $79,608.15. Following the transaction, the chief financial officer now directly owns 269,393 shares in the company, valued at $4,404,575.55. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Tuesday, November 19th. The shares were 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 owns 1,092,446 shares in the company, valued at approximately $10,858,913.24. This trade represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 196,795 shares of company stock valued at $3,071,225 in the last ninety days. 3.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunrun

Several institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in shares of Sunrun during the 3rd quarter worth $482,000. TCW Group Inc. acquired a new position in shares of Sunrun during the 3rd quarter worth $218,000. Geode Capital Management LLC raised its stake in shares of Sunrun by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock worth $96,019,000 after buying an additional 30,549 shares during the last quarter. MML Investors Services LLC raised its stake in shares of Sunrun by 9.3% during the 3rd quarter. MML Investors Services LLC now owns 43,313 shares of the energy company’s stock worth $782,000 after buying an additional 3,689 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Sunrun during the 3rd quarter worth $618,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.