Sunrun (NASDAQ:RUN) Rating Increased to Outperform at BNP Paribas

BNP Paribas upgraded shares of Sunrun (NASDAQ:RUN) from a neutral rating to an outperform rating in a research report sent to investors on Tuesday, Marketbeat reports. BNP Paribas currently has $16.00 price target on the energy company’s stock.

Other research analysts have also issued research reports about the company. Glj Research restated a “sell” rating and set a $7.78 price objective on shares of Sunrun in a research report on Thursday, November 7th. Piper Sandler cut Sunrun from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $11.00 in a report on Friday, November 22nd. Wells Fargo & Company lowered their target price on Sunrun from $20.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. BMO Capital Markets decreased their price target on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating on the stock in a research note on Monday, November 11th. Finally, Susquehanna dropped their price objective on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Sunrun presently has an average rating of “Hold” and a consensus price target of $19.31.

Sunrun Trading Up 3.6 %

Shares of RUN opened at $11.37 on Tuesday. Sunrun has a 1 year low of $9.01 and a 1 year high of $22.26. The company has a 50 day simple moving average of $10.92 and a two-hundred day simple moving average of $14.81. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The firm has a market cap of $2.55 billion, a P/E ratio of -6.25 and a beta of 2.58.

Insider Transactions at Sunrun

In related news, CFO Danny Abajian sold 3,734 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $41,746.12. Following the completion of the transaction, the chief financial officer now directly owns 257,969 shares of the company’s stock, valued at approximately $2,884,093.42. This represents a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Friday, October 18th. The stock was sold at an average price of $14.60, for a total transaction of $730,000.00. Following the sale, the director now directly owns 1,142,446 shares in the company, 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. Insiders have sold 164,830 shares of company stock worth $1,864,647 over the last quarter. 3.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunrun

A number of institutional investors and hedge funds have recently bought and sold shares of RUN. Greenvale Capital LLP increased its holdings in shares of Sunrun by 20.5% in the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after purchasing an additional 2,000,000 shares during the last quarter. State Street Corp lifted its holdings in Sunrun by 0.6% in the third quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock valued at $165,424,000 after acquiring an additional 54,329 shares during the last quarter. Geode Capital Management LLC grew its position in Sunrun by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock worth $96,019,000 after acquiring an additional 30,549 shares during the period. Dimensional Fund Advisors LP increased its stake in Sunrun by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock worth $52,025,000 after acquiring an additional 729,633 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Sunrun in the third quarter valued at $76,152,000. 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.