Sunrun (NASDAQ:RUN) Rating Lowered to Strong Sell at BMO Capital Markets

Sunrun (NASDAQ:RUN - Get Free Report) was downgraded by investment analysts at BMO Capital Markets from a "hold" rating to a "strong sell" rating in a note issued to investors on Thursday, MarketBeat reports. They currently have a $4.00 target price on the energy company's stock, down from their previous target price of $9.00. BMO Capital Markets' price target would suggest a potential downside of 41.86% from the stock's current price.

Several other analysts have also weighed in on RUN. JPMorgan Chase & Co. dropped their price objective on shares of Sunrun from $22.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group raised their price objective on shares of Sunrun from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Truist Financial reissued a "hold" rating and issued a $6.00 price target (down previously from $9.00) on shares of Sunrun in a report on Wednesday, April 16th. Morgan Stanley restated an "equal weight" rating and issued a $11.00 price objective on shares of Sunrun in a research report on Wednesday, April 23rd. Finally, Susquehanna dropped their price objective on shares of Sunrun from $13.00 to $10.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $14.47.

Sunrun Price Performance

RUN traded up $0.17 during midday trading on Thursday, reaching $6.88. 50,268,411 shares of the company's stock were exchanged, compared to its average volume of 11,602,815. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -3.78 and a beta of 2.66. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. Sunrun has a one year low of $5.45 and a one year high of $22.26. The business has a 50-day simple moving average of $7.57 and a two-hundred day simple moving average of $8.75.

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

Insider Activity at Sunrun

In other news, insider Jeanna Steele sold 9,942 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $67,009.08. Following the completion of the transaction, the insider now directly owns 291,238 shares in the company, valued at $1,962,944.12. This represents a 3.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward Harris Fenster acquired 150,000 shares of Sunrun stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the completion of the purchase, the director now owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. The trade was a 12.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 88,540 shares of company stock valued at $595,944. 3.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

A number of large investors have recently modified their holdings of RUN. SG Americas Securities LLC boosted its stake in shares of Sunrun by 40.4% during the 4th quarter. SG Americas Securities LLC now owns 74,893 shares of the energy company's stock worth $693,000 after buying an additional 21,533 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Sunrun during the 4th quarter worth about $118,000. Union Bancaire Privee UBP SA acquired a new position in shares of Sunrun during the 4th quarter worth about $56,000. Ridgecrest Wealth Partners LLC boosted its stake in shares of Sunrun by 11.0% during the 4th quarter. Ridgecrest Wealth Partners LLC now owns 80,000 shares of the energy company's stock worth $740,000 after buying an additional 7,929 shares during the last quarter. Finally, Pacific Capital Wealth Advisors Inc. raised its holdings in shares of Sunrun by 102.9% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 80,732 shares of the energy company's stock valued at $747,000 after purchasing an additional 40,942 shares during the period. 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.