Phoenix Financial Ltd. Acquires 22,000 Shares of Sunrun Inc. (NASDAQ:RUN)

Phoenix Financial Ltd. boosted its holdings in Sunrun Inc. (NASDAQ:RUN) by 19.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,187 shares of the energy company’s stock after buying an additional 22,000 shares during the period. Phoenix Financial Ltd. owned approximately 0.06% of Sunrun worth $792,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in Sunrun in the 4th quarter worth approximately $29,000. Summit Securities Group LLC acquired a new position in shares of Sunrun during the fourth quarter valued at about $53,000. Sterling Capital Management LLC raised its position in shares of Sunrun by 807.5% during the fourth quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company’s stock valued at $64,000 after buying an additional 6,129 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Sunrun during the fourth quarter valued at about $92,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Sunrun during the fourth quarter valued at about $94,000. 91.69% of the stock is owned by institutional investors.

Sunrun Stock Performance

NASDAQ RUN opened at $10.78 on Friday. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -0.89 and a beta of 2.60. The company has a 50 day moving average of $8.86 and a 200-day moving average of $8.25. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 3.89. Sunrun Inc. has a 1-year low of $5.38 and a 1-year high of $22.26.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.42. The company had revenue of $504.27 million during the quarter, compared to analyst estimates of $487.29 million. Sunrun had a negative net margin of 129.97% and a positive return on equity of 9.42%. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.40) earnings per share. On average, equities analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Edward Harris Fenster purchased 50,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $10.87 per share, with a total value of $543,500.00. Following the completion of the acquisition, the director directly owned 1,408,182 shares in the company, valued at approximately $15,306,938.34. This trade represents a 3.68% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Danny Abajian sold 8,909 shares of the company’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $10.80, for a total value of $96,217.20. Following the transaction, the chief financial officer directly owned 446,797 shares in the company, valued at $4,825,407.60. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,939 shares of company stock valued at $430,264 over the last quarter. Company insiders own 3.37% of the company’s stock.

Wall Street Analysts Forecast Growth

RUN has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Sunrun from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. BNP Paribas Exane raised shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Monday, July 7th. Royal Bank Of Canada downgraded shares of Sunrun from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $12.00 to $5.00 in a research note on Wednesday, June 18th. BMO Capital Markets downgraded shares of Sunrun from a “hold” rating to a “strong sell” rating and decreased their price target for the stock from $9.00 to $4.00 in a research note on Thursday, May 22nd. Finally, Mizuho lifted their price target on shares of Sunrun from $13.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.30.

Sunrun 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.