Bank of New York Mellon Corp Sells 81,492 Shares of Sunrun Inc. (NASDAQ:RUN)

Bank of New York Mellon Corp decreased its position in shares of Sunrun Inc. (NASDAQ:RUN) by 5.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,477,307 shares of the energy company’s stock after selling 81,492 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.66% of Sunrun worth $13,665,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in Sunrun during the 3rd quarter valued at approximately $44,000. Newbridge Financial Services Group Inc. grew its stake in Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after acquiring an additional 2,000 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Sunrun during the fourth quarter valued at $56,000. Wealth Enhancement Advisory Services LLC bought a new stake in Sunrun in the 4th quarter valued at $94,000. Finally, Alterna Wealth Management Inc. purchased a new stake in Sunrun in the 4th quarter worth $96,000. Institutional investors own 91.69% of the company’s stock.

Analyst Ratings Changes

RUN has been the subject of a number of research analyst reports. StockNews.com upgraded Sunrun to a “sell” rating in a research report on Friday, December 20th. Truist Financial restated a “hold” rating and set a $9.00 price target (down previously from $12.00) on shares of Sunrun in a report on Monday, March 3rd. BMO Capital Markets decreased their price objective on Sunrun from $11.00 to $9.00 and set a “market perform” rating on the stock in a report on Monday, March 3rd. TD Cowen cut their target price on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

Insiders Place Their Bets

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $9.42, for a total transaction of $471,000.00. Following the transaction, the director now directly owns 1,041,753 shares in the company, valued at $9,813,313.26. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edward Harris Fenster bought 150,000 shares of the stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the completion of the acquisition, the director now directly owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. This trade represents a 12.42 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 171,466 shares of company stock worth $1,607,397 over the last quarter. Company insiders own 3.77% of the company’s stock.

Sunrun Trading Down 5.2 %

Shares of NASDAQ RUN opened at $6.57 on Thursday. Sunrun Inc. has a fifty-two week low of $5.93 and a fifty-two week high of $22.26. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -3.61 and a beta of 2.84. The business’s 50 day moving average price is $8.80 and its 200-day moving average price is $12.35.

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.