Sunrun (NASDAQ:RUN) Raised to “Outperform” at BNP Paribas

Sunrun (NASDAQ:RUN) was upgraded by analysts at BNP Paribas from a “neutral” rating to an “outperform” rating in a note issued to investors on Tuesday, MarketBeat reports. The firm currently has a $16.00 price objective on the energy company’s stock. BNP Paribas’ price target points to a potential upside of 48.84% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. Guggenheim downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. The Goldman Sachs Group lowered their target price on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Glj Research reiterated a “sell” rating and issued a $7.78 price target on shares of Sunrun in a report on Thursday, November 7th. Barclays decreased their price objective on Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Finally, TD Cowen started coverage on Sunrun in a research note on Thursday, December 19th. They issued a “buy” rating and a $21.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.16.

Sunrun Stock Down 5.5 %

RUN opened at $10.75 on Tuesday. The firm has a market cap of $2.41 billion, a P/E ratio of -5.91 and a beta of 2.58. The business’s fifty day simple moving average is $10.86 and its 200 day simple moving average is $14.78. Sunrun has a 52 week low of $9.01 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.

Insider Activity at Sunrun

In related news, CEO Mary Powell sold 4,350 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $48,633.00. Following the transaction, the chief executive officer now owns 560,321 shares in the company, valued at approximately $6,264,388.78. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $14.60, for a total value of $730,000.00. Following the sale, the director now owns 1,142,446 shares of the company’s stock, valued at approximately $16,679,711.60. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 164,830 shares of company stock worth $1,864,647. 3.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently made changes to their positions in RUN. Erste Asset Management GmbH acquired a new stake in Sunrun during the third quarter valued at approximately $76,152,000. Sylebra Capital LLC bought a new stake in shares of Sunrun in the 2nd quarter valued at approximately $35,387,000. Greenvale Capital LLP lifted its stake in Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after purchasing an additional 2,000,000 shares during the last quarter. FMR LLC boosted its holdings in Sunrun by 83.6% in the third quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock worth $61,952,000 after purchasing an additional 1,562,163 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Sunrun by 113.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock valued at $45,426,000 after purchasing an additional 1,337,302 shares during the last quarter. 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.