Symmetry Investments LP Takes $1.21 Million Position in Sunrun Inc. (NASDAQ:RUN)

Symmetry Investments LP purchased a new stake in Sunrun Inc. (NASDAQ:RUN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 101,600 shares of the energy company’s stock, valued at approximately $1,205,000.

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. increased its position in Sunrun by 1.5% during the 2nd quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock worth $538,000 after purchasing an additional 691 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Sunrun by 6.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,690 shares of the energy company’s stock worth $186,000 after purchasing an additional 895 shares in the last quarter. Treasurer of the State of North Carolina increased its position in Sunrun by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock worth $1,837,000 after purchasing an additional 910 shares in the last quarter. &PARTNERS increased its position in Sunrun by 1.6% during the 2nd quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock worth $698,000 after purchasing an additional 1,019 shares in the last quarter. Finally, United Services Automobile Association increased its position in Sunrun by 6.3% during the 2nd quarter. United Services Automobile Association now owns 17,631 shares of the energy company’s stock worth $209,000 after purchasing an additional 1,042 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Buying and Selling

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the sale, the director now directly owns 1,192,446 shares in the company, valued at approximately $24,087,409.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jeanna Steele sold 2,513 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $12.61, for a total value of $31,688.93. Following the completion of the sale, the insider now directly owns 312,774 shares in the company, valued at approximately $3,944,080.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00. Following the completion of the sale, the director now owns 1,192,446 shares of the company’s stock, valued at $24,087,409.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 178,675 shares of company stock valued at $3,253,289. Corporate insiders own 3.76% of the company’s stock.

Analyst Upgrades and Downgrades

RUN has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a research report on Thursday, August 8th. The Goldman Sachs Group raised their price target on Sunrun from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Piper Sandler raised their price target on Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Evercore ISI decreased their price target on Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, BMO Capital Markets raised their price target on Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.98.

Sunrun Stock Performance

Sunrun stock opened at $18.91 on Friday. The stock’s 50 day moving average price is $18.54 and its 200 day moving average price is $14.41. The firm has a market capitalization of $4.23 billion, a PE ratio of -2.84 and a beta of 2.59. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66. Sunrun Inc. has a one year low of $8.43 and a one year high of $22.26.

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

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.