Bank of Nova Scotia Sells 55,690 Shares of Sunrun Inc. (NASDAQ:RUN)

Bank of Nova Scotia cut its holdings in Sunrun Inc. (NASDAQ:RUN - Free Report) by 72.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,707 shares of the energy company's stock after selling 55,690 shares during the quarter. Bank of Nova Scotia's holdings in Sunrun were worth $201,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new position in Sunrun during the fourth quarter valued at approximately $31,022,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Sunrun in the fourth quarter worth about $18,500,000. Invesco Ltd. boosted its position in shares of Sunrun by 20.8% during the 4th quarter. Invesco Ltd. now owns 6,008,879 shares of the energy company's stock valued at $55,582,000 after acquiring an additional 1,035,096 shares during the last quarter. Erste Asset Management GmbH grew its stake in shares of Sunrun by 16.3% in the 4th quarter. Erste Asset Management GmbH now owns 4,789,213 shares of the energy company's stock worth $47,302,000 after buying an additional 672,049 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Sunrun by 36.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,877,502 shares of the energy company's stock worth $17,367,000 after acquiring an additional 501,918 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Sunrun Trading Up 4.9 %

Shares of RUN traded up $0.32 during trading hours on Friday, reaching $6.85. The stock had a trading volume of 11,271,349 shares, compared to its average volume of 10,749,613. Sunrun Inc. has a 52 week low of $5.45 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. The company has a market cap of $1.55 billion, a P/E ratio of -3.76 and a beta of 2.74. The firm has a 50-day moving average of $7.00 and a 200 day moving average of $9.90.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Susquehanna cut their price target on shares of Sunrun from $13.00 to $10.00 and set a "positive" rating on the stock in a report on Monday, April 14th. UBS Group lowered their target price on shares of Sunrun from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Roth Capital set a $20.00 target price on shares of Sunrun in a research note on Friday, February 28th. TD Cowen reduced their price objective on Sunrun from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, Jefferies Financial Group lowered Sunrun from a "buy" rating to a "hold" rating and reduced their price objective for the company from $14.00 to $8.00 in a research note on Wednesday, March 12th. Two research 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $16.01.

Insider Buying and Selling at Sunrun

In other Sunrun news, CFO Danny Abajian sold 16,927 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $114,087.98. Following the completion of the sale, the chief financial officer now owns 231,279 shares in the company, valued at $1,558,820.46. This trade represents a 6.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Paul S. Dickson sold 19,343 shares of the firm's 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 $130,371.82. Following the completion of the sale, the executive now directly owns 399,729 shares of the company's stock, valued at approximately $2,694,173.46. The trade was a 4.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 138,540 shares of company stock worth $1,050,944. Corporate insiders own 3.77% of the company's stock.

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.