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

Sunrun (NASDAQ:RUN - Get Free Report) was downgraded by equities research analysts at BNP Paribas from a "strong-buy" rating to a "hold" rating in a report issued on Thursday,Zacks.com reports.

RUN has been the topic of several other research reports. Citigroup restated a "neutral" rating and issued a $7.00 target price on shares of Sunrun in a research report on Thursday, April 17th. Truist Financial restated a "hold" rating and issued a $6.00 price objective (down previously from $9.00) on shares of Sunrun in a report on Wednesday, April 16th. Roth Capital set a $20.00 target price on shares of Sunrun in a research note on Friday, February 28th. Susquehanna reduced their target price 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. Finally, Royal Bank of Canada decreased their price target on shares of Sunrun from $14.00 to $12.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average 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 quick ratio of 1.15 and a current ratio of 1.47. The firm has a fifty day moving average of $7.56 and a 200 day moving average of $8.84. The firm has a market cap of $1.53 billion, a PE ratio of -3.69 and a beta of 2.66. Sunrun has a one year low of $5.45 and a one year high of $22.26.

Sunrun (NASDAQ:RUN - Get Free Report) last released its earnings results 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 analysts' expectations 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 quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.40) earnings per share. As a group, research analysts predict that Sunrun will post -0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Edward Harris Fenster purchased 50,000 shares of Sunrun stock in a transaction dated Monday, May 12th. The shares were acquired at an average cost of $10.87 per share, with a total value of $543,500.00. Following the purchase, the director now owns 1,408,182 shares of the company's stock, valued at approximately $15,306,938.34. The trade was a 3.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Paul S. Dickson sold 19,343 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 $130,371.82. Following the transaction, the executive now directly owns 399,729 shares of the company's stock, valued at $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 valued at $595,944 over the last quarter. 3.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Sunrun

A number of institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in Sunrun during the 4th quarter worth about $29,000. Newbridge Financial Services Group Inc. increased its stake in Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company's stock worth $32,000 after purchasing an additional 2,000 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Sunrun during the fourth quarter worth about $53,000. Union Bancaire Privee UBP SA purchased a new position in shares of Sunrun in the fourth quarter valued at approximately $56,000. Finally, Sterling Capital Management LLC boosted its stake in shares of Sunrun by 807.5% in the fourth quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company's stock valued at $64,000 after purchasing an additional 6,129 shares during the period. 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.

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