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

Sunrun (NASDAQ:RUN) was upgraded by equities research analysts at BNP Paribas from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a $16.00 price target on the energy company’s stock. BNP Paribas’ target price would suggest a potential upside of 45.85% from the company’s current price.

RUN has been the topic of a number of other research reports. 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 on the stock. Roth Mkm decreased their price objective on Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Oppenheimer cut their target price on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. UBS Group decreased their price target on shares of Sunrun from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $12.00 price objective (down previously from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.31.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $10.97 on Tuesday. The company’s fifty day moving average price is $10.98 and its 200-day moving average price is $14.82. 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 capitalization of $2.46 billion, a price-to-earnings ratio of -6.03 and a beta of 2.58. Sunrun has a one year low of $9.01 and a one year high of $22.26.

Insider Buying and Selling

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $9.42, for a total value of $471,000.00. Following the completion of the transaction, the director now owns 1,041,753 shares in the company, valued at $9,813,313.26. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 151,766 shares of company stock valued at $1,718,592 over the last three months. Corporate insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of institutional investors have recently added to or reduced their stakes in RUN. Principal Financial Group Inc. grew its position in shares of Sunrun by 33.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock worth $26,385,000 after buying an additional 367,835 shares during the period. Franklin Resources Inc. purchased a new stake in Sunrun in the third quarter worth about $896,000. Wilmington Savings Fund Society FSB bought a new position in shares of Sunrun during the third quarter valued at approximately $44,000. Virtu Financial LLC purchased a new position in shares of Sunrun during the third quarter valued at approximately $482,000. Finally, TCW Group Inc. bought a new stake in shares of Sunrun in the 3rd quarter worth approximately $218,000. Institutional investors own 91.69% of the company’s stock.

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.