Sunrun (NASDAQ:RUN) Downgraded to Neutral Rating by Piper Sandler

Piper Sandler downgraded shares of Sunrun (NASDAQ:RUN) from an overweight rating to a neutral rating in a research report report published on Friday morning, Marketbeat reports. The brokerage currently has $11.00 target price on the energy company’s stock, down from their prior target price of $23.00.

Other analysts have also recently issued research reports about the stock. Barclays decreased their price target on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price target on Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a report on Thursday, August 8th. Glj Research reaffirmed a “sell” rating and set a $7.78 price objective on shares of Sunrun in a research note on Thursday, November 7th. UBS Group lifted their target price on Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Truist Financial restated a “hold” rating and set a $12.00 price target (down previously from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. 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 stock. According to data from MarketBeat, Sunrun has a consensus rating of “Hold” and an average price target of $19.49.

Sunrun Trading Up 2.8 %

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

Insider Activity at Sunrun

In other news, CEO Mary Powell sold 2,148 shares of the firm’s stock in a transaction that occurred on 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 $10,883,036.47. This trade represents a 0.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeanna Steele sold 2,357 shares of the stock in a transaction 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 sale, the insider now owns 308,260 shares in the company, valued at approximately $5,619,579.80. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 196,795 shares of company stock valued at $3,071,225 in the last ninety days. Corporate insiders own 3.77% of the company’s stock.

Institutional Trading of Sunrun

Institutional investors and hedge funds have recently made changes to their positions in the stock. Erste Asset Management GmbH purchased a new stake in Sunrun in the 3rd quarter worth approximately $76,152,000. Sylebra Capital LLC purchased a new position in Sunrun during the second quarter worth about $35,387,000. Vanguard Group Inc. boosted its stake in Sunrun by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after buying an additional 2,743,148 shares during the last quarter. Greenvale Capital LLP grew its holdings in Sunrun by 20.5% in the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after buying an additional 2,000,000 shares during the period. Finally, FMR LLC lifted its holdings in shares of Sunrun by 83.6% during the 3rd quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock worth $61,952,000 after acquiring an additional 1,562,163 shares during the period. 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.