Sunrun (NASDAQ:RUN) Downgraded to “Neutral” Rating by BNP Paribas

Sunrun (NASDAQ:RUN) was downgraded by equities researchers at BNP Paribas from an “outperform” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have a $14.00 price objective on the energy company’s stock. BNP Paribas’ target price indicates a potential upside of 36.85% from the stock’s current price.

Several other equities research analysts have also commented on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $20.00 price objective on shares of Sunrun in a research note on Wednesday, September 25th. Glj Research reissued a “sell” rating and issued a $7.78 price objective on shares of Sunrun in a research report on Thursday. Oppenheimer raised their target price on Sunrun from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Morgan Stanley reiterated an “overweight” rating and set a $35.00 target price on shares of Sunrun in a research note on Tuesday, September 24th. Finally, Guggenheim lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sunrun presently has an average rating of “Hold” and a consensus target price of $21.33.

Sunrun Stock Performance

NASDAQ RUN opened at $10.23 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31. The company has a fifty day moving average price of $16.60 and a 200-day moving average price of $15.43. Sunrun has a 1 year low of $8.82 and a 1 year high of $22.26. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -5.62 and a beta of 2.61.

Insider Activity at Sunrun

In other Sunrun news, Director Gerald Alan Risk sold 9,045 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $20.04, for a total value of $181,261.80. Following the completion of the transaction, the director now owns 334,761 shares of the company’s stock, valued at $6,708,610.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Gerald Alan Risk sold 9,045 shares of Sunrun stock in a transaction on Monday, August 19th. The shares were sold at an average price of $20.04, for a total transaction of $181,261.80. Following the completion of the sale, the director now directly owns 334,761 shares of the company’s stock, valued at approximately $6,708,610.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeanna Steele sold 2,357 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $42,968.11. Following the completion of the sale, the insider now owns 308,260 shares of the company’s stock, valued at approximately $5,619,579.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 155,840 shares of company stock valued at $2,755,487 over the last three months. 3.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RUN. Mirae Asset Global Investments Co. Ltd. grew its position in Sunrun by 142.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,702 shares of the energy company’s stock worth $3,199,000 after acquiring an additional 142,563 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Sunrun by 181.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,361 shares of the energy company’s stock valued at $84,000 after purchasing an additional 4,103 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Sunrun by 1.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 190,321 shares of the energy company’s stock worth $2,508,000 after acquiring an additional 3,133 shares during the period. Empowered Funds LLC purchased a new position in Sunrun during the first quarter valued at $139,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Sunrun by 52.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 37,619 shares of the energy company’s stock valued at $496,000 after buying an additional 12,936 shares in the last quarter. 91.69% of the stock is owned by 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.