Bank of Nova Scotia Has $201,000 Stake in Sunrun Inc. (NASDAQ:RUN)

Bank of Nova Scotia lessened its position in Sunrun Inc. (NASDAQ:RUN) by 72.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,707 shares of the energy company’s stock after selling 55,690 shares during the quarter. Bank of Nova Scotia’s holdings in Sunrun were worth $201,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Sunrun during the fourth quarter worth about $29,000. Newbridge Financial Services Group Inc. grew its holdings in Sunrun by 133.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after acquiring an additional 2,000 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Sunrun during the third quarter valued at $44,000. Summit Securities Group LLC acquired a new position in shares of Sunrun during the fourth quarter worth $53,000. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Sunrun in the fourth quarter worth $56,000. 91.69% of the stock is currently owned by institutional investors.

Sunrun Trading Down 1.6 %

Shares of Sunrun stock opened at $6.71 on Wednesday. The company has a market capitalization of $1.52 billion, a P/E ratio of -3.69 and a beta of 2.74. The stock has a fifty day simple moving average of $7.10 and a 200 day simple moving average of $10.07. Sunrun Inc. has a 12-month low of $5.45 and a 12-month high of $22.26. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank of Canada cut their target price on Sunrun from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. UBS Group reduced their target price on Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. BMO Capital Markets lowered their price target on shares of Sunrun from $11.00 to $9.00 and set a “market perform” rating for the company in a report on Monday, March 3rd. Truist Financial reaffirmed a “hold” rating and issued a $9.00 price objective (down from $12.00) on shares of Sunrun in a research note on Monday, March 3rd. Finally, Wells Fargo & Company lowered their price objective on Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Sunrun presently has an average rating of “Moderate Buy” and an average target price of $16.58.

Insider Transactions at Sunrun

In related news, CFO Danny Abajian sold 16,927 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $114,087.98. Following the transaction, the chief financial officer now directly owns 231,279 shares in the company, valued at approximately $1,558,820.46. The trade was a 6.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward Harris Fenster bought 150,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the transaction, the director now owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. This represents a 12.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 188,540 shares of company stock worth $1,530,444 in the last quarter. 3.77% of the stock is currently owned by corporate insiders.

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.