Sunrun (NASDAQ:RUN) Downgraded by BNP Paribas to Hold

Sunrun (NASDAQ:RUN) was downgraded by stock analysts at BNP Paribas from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets set a $4.00 price objective on shares of Sunrun and gave the company an “underperform” rating in a research report on Thursday. BNP Paribas Exane downgraded shares of Sunrun from an “outperform” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Thursday. JPMorgan Chase & Co. cut their price target on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Truist Financial reaffirmed a “hold” rating and set a $6.00 price objective (down from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Finally, Wall Street Zen upgraded Sunrun to a “sell” rating in a report on Thursday, May 8th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.47.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $6.71 on Thursday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -3.69 and a beta of 2.66. The stock’s 50-day moving average is $7.56 and its two-hundred day moving average is $8.84. Sunrun has a 1-year low of $5.45 and a 1-year high of $22.26.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.42. The business had revenue of $504.27 million during the quarter, compared to the consensus estimate of $487.29 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.40) earnings per share. Analysts forecast that Sunrun will post -0.43 EPS for the current fiscal year.

Insider Activity at Sunrun

In other Sunrun news, insider Jeanna Steele sold 9,942 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $67,009.08. Following the completion of the sale, the insider now directly owns 291,238 shares of the company’s stock, valued at approximately $1,962,944.12. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Paul S. Dickson sold 19,343 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $130,371.82. Following the completion of the transaction, the executive now directly owns 399,729 shares in the company, valued at approximately $2,694,173.46. The trade was a 4.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,540 shares of company stock worth $595,944 in the last 90 days. 3.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently modified their holdings of RUN. Aster Capital Management DIFC Ltd purchased a new position in Sunrun during the 4th quarter worth $29,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Sunrun by 133.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after acquiring an additional 2,000 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Sunrun during the fourth quarter worth about $53,000. Union Bancaire Privee UBP SA purchased a new position in Sunrun during the fourth quarter worth about $56,000. Finally, Sterling Capital Management LLC raised its holdings in Sunrun by 807.5% during the fourth quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company’s stock worth $64,000 after purchasing an additional 6,129 shares in the last quarter. 91.69% of the stock is 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.