Algert Global LLC Makes New Investment in Sunrun Inc. (NASDAQ:RUN)

Algert Global LLC purchased a new stake in shares of Sunrun Inc. (NASDAQ:RUN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 30,061 shares of the energy company’s stock, valued at approximately $357,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caxton Associates LP bought a new stake in Sunrun during the 4th quarter valued at $1,672,000. Masters Capital Management LLC purchased a new position in shares of Sunrun during the fourth quarter valued at $19,630,000. Greenvale Capital LLP raised its holdings in shares of Sunrun by 15.3% in the fourth quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock valued at $162,929,000 after acquiring an additional 1,100,000 shares in the last quarter. Oracle Alpha Inc. bought a new position in Sunrun during the 4th quarter worth about $376,000. Finally, EP Wealth Advisors LLC increased its position in Sunrun by 20.4% during the 4th quarter. EP Wealth Advisors LLC now owns 21,364 shares of the energy company’s stock valued at $419,000 after purchasing an additional 3,624 shares during the period. Institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RUN shares. Barclays upped their price target on shares of Sunrun from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Susquehanna upped their target price on Sunrun from $23.00 to $24.00 and gave the stock a “positive” rating in a report on Monday, July 15th. The Goldman Sachs Group reiterated a “buy” rating and issued a $20.00 price target on shares of Sunrun in a report on Wednesday, September 25th. Oppenheimer upped their price objective on Sunrun from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Truist Financial reiterated a “hold” rating and issued a $18.00 target price (up previously from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.39.

Sunrun Stock Performance

Shares of RUN stock opened at $16.39 on Wednesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31. The business has a fifty day moving average of $18.71 and a 200 day moving average of $15.00. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -2.46 and a beta of 2.58. Sunrun Inc. has a 1 year low of $8.43 and a 1 year high of $22.26.

Sunrun (NASDAQ:RUN) last released its earnings results on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The firm had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue was down 11.2% compared to the same quarter last year. As a group, research analysts expect that Sunrun Inc. will post -0.16 earnings per share for the current year.

Insider Buying and Selling at Sunrun

In related news, Director Lynn Michelle Jurich sold 1,937 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $18.23, for a total transaction of $35,311.51. Following the completion of the transaction, the director now owns 1,242,446 shares of the company’s stock, valued at $22,649,790.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Sunrun news, CEO Mary Powell sold 6,415 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $16.34, for a total value of $104,821.10. Following the sale, the chief executive officer now owns 569,368 shares in the company, valued at approximately $9,303,473.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lynn Michelle Jurich sold 1,937 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $35,311.51. Following the sale, the director now directly owns 1,242,446 shares in the company, valued at $22,649,790.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,001 shares of company stock worth $3,336,845. Company insiders own 3.76% 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.