Sunrun (NASDAQ:RUN) Lowered to Strong Sell Rating by BMO Capital Markets

Sunrun (NASDAQ:RUN) was downgraded by research analysts at BMO Capital Markets from a “hold” rating to a “strong sell” rating in a report released on Thursday, MarketBeat.com reports. They currently have a $4.00 price objective on the energy company’s stock, down from their previous price objective of $9.00. BMO Capital Markets’ price target would suggest a potential downside of 40.39% from the company’s current price.

A number of other equities analysts also recently commented on RUN. Jefferies Financial Group downgraded Sunrun from a “buy” rating to a “hold” rating and decreased their price target for the stock from $14.00 to $8.00 in a research note on Wednesday, March 12th. BNP Paribas Exane downgraded Sunrun from an “outperform” rating to a “neutral” rating and set a $10.00 target price on the stock. in a report on Thursday. Citigroup reiterated a “neutral” rating and issued a $7.00 price target on shares of Sunrun in a report on Thursday, April 17th. Morgan Stanley reissued an “equal weight” rating and set a $11.00 price target on shares of Sunrun in a research report on Wednesday, April 23rd. Finally, Wall Street Zen raised shares of Sunrun to a “sell” rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Sunrun currently has an average rating of “Hold” and an average price target of $14.47.

Sunrun Stock Performance

Sunrun stock opened at $6.71 on Thursday. Sunrun has a 52 week low of $5.45 and a 52 week high of $22.26. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The stock has a market cap of $1.53 billion, a P/E ratio of -3.69 and a beta of 2.66. The stock has a 50 day moving average of $7.56 and a 200-day moving average of $8.84.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.42. The firm had revenue of $504.27 million for the quarter, compared to the consensus estimate of $487.29 million. Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.40) EPS. On average, analysts expect that Sunrun will post -0.43 EPS for the current fiscal year.

Insider Buying and Selling at Sunrun

In other news, CEO Mary Powell sold 31,197 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $210,267.78. Following the completion of the transaction, the chief executive officer now directly owns 534,615 shares in the company, valued at $3,603,305.10. This trade represents a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward Harris Fenster acquired 150,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the purchase, the director now directly owns 1,358,182 shares of the company’s stock, valued at approximately $9,235,637.60. This trade represents a 12.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 88,540 shares of company stock valued at $595,944 in the last quarter. Corporate insiders own 3.37% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RUN. KLP Kapitalforvaltning AS bought a new stake in shares of Sunrun in the 4th quarter worth $402,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in Sunrun during the fourth quarter worth about $18,500,000. Charles Schwab Investment Management Inc. raised its position in Sunrun by 7.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company’s stock worth $21,511,000 after acquiring an additional 155,311 shares in the last quarter. Greenvale Capital LLP lifted its holdings in Sunrun by 50.3% in the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock valued at $124,875,000 after acquiring an additional 4,516,793 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in Sunrun in the 4th quarter valued at about $403,000. 91.69% of the stock is owned by institutional investors.

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.