Raymond James & Associates Trims Stake in Sunrun Inc. (NASDAQ:RUN)

Raymond James & Associates lowered its stake in Sunrun Inc. (NASDAQ:RUN) by 35.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,415 shares of the energy company’s stock after selling 44,335 shares during the quarter. Raymond James & Associates’ holdings in Sunrun were worth $1,618,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RUN. International Assets Investment Management LLC purchased a new position in shares of Sunrun during the 3rd quarter worth $26,000. C M Bidwell & Associates Ltd. lifted its stake in shares of Sunrun by 1,483.9% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 2,360 shares of the energy company’s stock worth $30,000 after purchasing an additional 2,211 shares during the period. Versant Capital Management Inc lifted its stake in shares of Sunrun by 149.7% during the 4th quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock worth $37,000 after purchasing an additional 1,127 shares during the period. Hexagon Capital Partners LLC lifted its stake in shares of Sunrun by 69.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 3,345 shares of the energy company’s stock worth $42,000 after purchasing an additional 1,375 shares during the period. Finally, Belpointe Asset Management LLC raised its position in shares of Sunrun by 735.2% in the 1st quarter. Belpointe Asset Management LLC now owns 2,113 shares of the energy company’s stock worth $43,000 after buying an additional 1,860 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Activity at Sunrun

In related news, Director Edward Harris Fenster sold 172,920 shares of Sunrun stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $11.95, for a total value of $2,066,394.00. Following the transaction, the director now owns 1,261,317 shares in the company, valued at approximately $15,072,738.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Alan Ferber bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $97,300. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Edward Harris Fenster sold 172,920 shares of Sunrun stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the completion of the transaction, the director now owns 1,261,317 shares in the company, valued at approximately $15,072,738.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 301,760 shares of company stock valued at $3,615,990. Insiders own 3.76% of the company’s stock.

Sunrun Trading Down 6.8 %

NASDAQ RUN opened at $10.11 on Friday. Sunrun Inc. has a twelve month low of $8.43 and a twelve month high of $23.85. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -1.37 and a beta of 2.46. The firm’s 50 day moving average price is $12.47 and its two-hundred day moving average price is $13.17.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). The company had revenue of $516.59 million for the quarter, compared to analyst estimates of $499.74 million. Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. Equities analysts anticipate that Sunrun Inc. will post -1.69 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RUN shares. Oppenheimer reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Sunrun in a research report on Thursday, February 22nd. Royal Bank of Canada lowered their price target on Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Janney Montgomery Scott downgraded Sunrun from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th. Piper Sandler lowered their price target on Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Finally, Truist Financial restated a “hold” rating and set a $14.00 target price (down from $15.00) on shares of Sunrun in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.53.

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.