Sunrun (NASDAQ:RUN) Lowered to “Neutral” Rating by Piper Sandler

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

RUN has been the subject of several other research reports. Wells Fargo & Company dropped their price objective on shares of Sunrun from $20.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Susquehanna decreased their price target on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a report on Wednesday, October 16th. Jefferies Financial Group cut their price target on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Guggenheim downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Finally, Oppenheimer dropped their price objective on Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Two equities 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.49.

Sunrun Stock Performance

Shares of NASDAQ RUN opened at $11.52 on Friday. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -6.33 and a beta of 2.61. Sunrun has a one year low of $9.23 and a one year high of $22.26. The business has a fifty day simple moving average of $14.72 and a 200 day simple moving average of $15.41. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Insider Activity at Sunrun

In other news, CFO Danny Abajian sold 9,694 shares of Sunrun stock in a transaction 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $497,000.00. Following the transaction, the director now owns 1,092,446 shares of the company’s stock, valued at approximately $10,858,913.24. The trade was a 4.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 196,795 shares of company stock valued at $3,071,225 over the last 90 days. Insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in shares of Sunrun by 33.7% in the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock valued at $26,385,000 after purchasing an additional 367,835 shares during the period. Symmetry Investments LP purchased a new stake in shares of Sunrun during the second quarter worth $1,205,000. Aigen Investment Management LP purchased a new position in shares of Sunrun in the third quarter valued at $955,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Sunrun by 113.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock worth $45,426,000 after purchasing an additional 1,337,302 shares in the last quarter. Finally, Axxcess Wealth Management LLC bought a new position in shares of Sunrun in the first quarter valued at approximately $171,000. 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.