Sunrun (NASDAQ:RUN) Stock Rating Lowered by BNP Paribas

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

Several other analysts have also recently issued reports on the company. Wall Street Zen raised Sunrun to a “sell” rating in a report on Thursday, May 8th. Royal Bank of Canada reduced their price target on shares of Sunrun from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Jefferies Financial Group lowered shares of Sunrun from a “buy” rating to a “hold” rating and lowered their price objective for the company from $14.00 to $8.00 in a research report on Wednesday, March 12th. BNP Paribas Exane cut shares of Sunrun from an “outperform” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research note on Thursday. Finally, BMO Capital Markets downgraded shares of Sunrun from a “hold” rating to a “strong sell” rating and reduced their target price for the stock from $9.00 to $4.00 in a report on Thursday. Three analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.47.

Sunrun Stock Up 2.5%

NASDAQ RUN opened at $6.88 on Thursday. Sunrun has a 52 week low of $5.45 and a 52 week high of $22.26. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $1.57 billion, a P/E ratio of -3.78 and a beta of 2.66. The stock’s 50-day moving average price is $7.57 and its 200-day moving average price is $8.77.

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

Insider Transactions at Sunrun

In related news, insider Jeanna Steele sold 9,942 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $67,009.08. Following the completion of the sale, the insider now owns 291,238 shares in the company, valued at approximately $1,962,944.12. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward Harris Fenster acquired 50,000 shares of Sunrun stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $10.87 per share, for a total transaction of $543,500.00. Following the completion of the acquisition, the director now directly owns 1,408,182 shares in the company, valued at $15,306,938.34. This trade represents a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 88,540 shares of company stock worth $595,944. 3.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Sunrun in the fourth quarter valued at about $29,000. Newbridge Financial Services Group Inc. raised its holdings in shares of Sunrun by 133.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after purchasing an additional 2,000 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Sunrun in the 4th quarter worth approximately $53,000. Union Bancaire Privee UBP SA bought a new position in shares of Sunrun during the fourth quarter valued at approximately $56,000. Finally, Apollon Wealth Management LLC bought a new position in shares of Sunrun during the first quarter valued at approximately $60,000. 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.