Essex Investment Management Co. LLC purchased a new stake in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 43,544 shares of the energy company's stock, valued at approximately $403,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Sunrun during the third quarter worth approximately $44,000. Newbridge Financial Services Group Inc. raised its stake in shares of Sunrun by 133.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company's stock worth $32,000 after buying an additional 2,000 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Sunrun in the 4th quarter worth $56,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Sunrun in the fourth quarter valued at $94,000. Finally, Alterna Wealth Management Inc. bought a new position in Sunrun during the fourth quarter valued at about $96,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CFO Danny Abajian sold 3,734 shares of Sunrun stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $41,746.12. Following the completion of the sale, the chief financial officer now owns 257,969 shares of the company's stock, valued at approximately $2,884,093.42. The trade was a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Paul S. Dickson sold 2,968 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $33,182.24. Following the completion of the sale, the executive now owns 418,492 shares of the company's stock, valued at $4,678,740.56. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,466 shares of company stock worth $1,607,397. Corporate insiders own 3.77% of the company's stock.
Sunrun Stock Down 5.5 %
RUN stock traded down $0.36 during midday trading on Thursday, reaching $6.21. The company had a trading volume of 9,022,176 shares, compared to its average volume of 10,797,622. The company has a 50 day moving average of $8.80 and a two-hundred day moving average of $12.35. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. Sunrun Inc. has a 1 year low of $5.93 and a 1 year high of $22.26. The company has a market capitalization of $1.40 billion, a P/E ratio of -3.41 and a beta of 2.84.
Analyst Ratings Changes
A number of brokerages have weighed in on RUN. Roth Capital set a $20.00 price target on shares of Sunrun in a report on Friday, February 28th. JPMorgan Chase & Co. cut their target price on shares of Sunrun from $22.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. The Goldman Sachs Group decreased their price target on shares of Sunrun from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Truist Financial reiterated a "hold" rating and set a $9.00 price objective (down previously from $12.00) on shares of Sunrun in a research report on Monday, March 3rd. Finally, Jefferies Financial Group lowered Sunrun from a "buy" rating to a "hold" rating and cut their target price for the stock from $14.00 to $8.00 in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Sunrun currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.20.
View Our Latest Research Report on Sunrun
Sunrun Company Profile
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Free Report)
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.
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