Sunrun (NASDAQ:RUN) Cut to Neutral at Piper Sandler

Piper Sandler lowered shares of Sunrun (NASDAQ:RUN) from an overweight rating to a neutral rating in a research note published on Friday, MarketBeat Ratings reports. They currently have $11.00 price target on the energy company’s stock, down from their previous price target of $23.00.

Several other equities research analysts have also commented on RUN. Oppenheimer cut their price target on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Morgan Stanley reduced their price target on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. BNP Paribas lowered shares of Sunrun from an “outperform” rating to a “neutral” rating and set a $14.00 price target on the stock. in a research note on Friday, November 8th. Roth Mkm cut their price objective on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Evercore ISI decreased their target price on Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.49.

Sunrun Trading Up 2.8 %

RUN stock opened at $10.51 on Friday. Sunrun has a 52-week low of $9.23 and a 52-week high of $22.26. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The firm has a market cap of $2.36 billion, a P/E ratio of -5.77 and a beta of 2.61. The company’s 50-day simple moving average is $14.88 and its 200-day simple moving average is $15.41.

Insider Transactions at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 2,537 shares of Sunrun stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $18.23, for a total transaction of $46,249.51. Following the completion of the sale, the executive now directly owns 427,883 shares in the company, valued at $7,800,307.09. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Danny Abajian sold 9,694 shares of the company’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 transaction of $191,456.50. Following the completion of the transaction, the chief financial officer now owns 278,260 shares in the company, valued at approximately $5,495,635. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 196,795 shares of company stock worth $3,071,225 in the last 90 days. Insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RUN. International Assets Investment Management LLC lifted its position in shares of Sunrun by 1,706.3% during the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after purchasing an additional 1,638 shares in the last quarter. Blue Trust Inc. lifted its holdings 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 buying an additional 1,465 shares in the last quarter. Duncker Streett & Co. Inc. purchased a new position in Sunrun in the 2nd quarter valued at approximately $36,000. CWM LLC grew its stake in shares of Sunrun by 883.9% in the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after acquiring an additional 3,014 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Sunrun during the second quarter worth $45,000. 91.69% of the stock is currently 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.