Edward Harris Fenster Acquires 50,000 Shares of Sunrun Inc. (NASDAQ:RUN) Stock

Sunrun Inc. (NASDAQ:RUN) Director Edward Harris Fenster bought 50,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of $10.87 per share, with a total value of $543,500.00. Following the completion of the purchase, the director now owns 1,408,182 shares of the company’s stock, valued at approximately $15,306,938.34. This trade represents a 3.68% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Edward Harris Fenster also recently made the following trade(s):

• On Monday, March 3rd, Edward Harris Fenster acquired 150,000 shares of Sunrun stock. The stock was bought at an average cost of $6.80 per share, with a total value of $1,020,000.00.

Sunrun Price Performance

RUN opened at $13.16 on Tuesday. Sunrun Inc. has a fifty-two week low of $5.45 and a fifty-two 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’s 50-day moving average price is $6.85 and its 200 day moving average price is $8.95. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -6.92 and a beta of 2.66.

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

Institutional Investors Weigh In On Sunrun

A number of hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. raised its holdings in Sunrun by 593.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock worth $111,263,000 after purchasing an additional 10,294,947 shares during the period. Greenvale Capital LLP lifted its holdings in Sunrun by 50.3% during the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock worth $124,875,000 after purchasing an additional 4,516,793 shares during the last quarter. Sylebra Capital LLC increased its position in Sunrun by 124.0% during the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock worth $61,819,000 after buying an additional 3,699,405 shares during the period. Norges Bank acquired a new position in shares of Sunrun in the fourth quarter valued at about $31,022,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Sunrun during the 4th quarter worth approximately $18,500,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. TD Cowen reduced their price objective on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Truist Financial restated a “hold” rating and set a $6.00 price objective (down from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. The Goldman Sachs Group dropped their target price on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of Sunrun from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Sunrun has a consensus rating of “Hold” and an average price target of $14.82.

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.