Insider Buying: Sunrun Inc. (NASDAQ:RUN) Director Buys 150,000 Shares of Stock

Sunrun Inc. (NASDAQ:RUN) Director Edward Harris Fenster purchased 150,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the acquisition, the director now owns 1,358,182 shares in the company, valued at $9,235,637.60. This trade represents a 12.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Sunrun Stock Performance

NASDAQ:RUN traded down $1.08 during mid-day trading on Monday, reaching $6.17. 24,935,388 shares of the stock were exchanged, compared to its average volume of 10,638,377. The company has a 50 day simple moving average of $9.20 and a 200-day simple moving average of $12.94. The stock has a market capitalization of $1.38 billion, a P/E ratio of -3.39 and a beta of 2.59. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. Sunrun Inc. has a 1 year low of $6.00 and a 1 year high of $22.26.

Institutional Trading of Sunrun

A number of hedge funds have recently added to or reduced their stakes in RUN. Blue Trust Inc. lifted its position in Sunrun by 385.5% during the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after acquiring an additional 1,465 shares during the period. International Assets Investment Management LLC lifted its position in Sunrun by 1,706.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,638 shares during the period. First Trust Direct Indexing L.P. lifted its position in Sunrun by 21.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,612 shares of the energy company’s stock worth $372,000 after acquiring an additional 3,676 shares during the period. Pinnacle Associates Ltd. acquired a new stake in Sunrun during the 3rd quarter worth approximately $255,000. Finally, Van ECK Associates Corp lifted its position in Sunrun by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock worth $905,000 after acquiring an additional 886 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RUN shares. Morgan Stanley cut their price target on Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. TD Cowen cut their price target on Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday. Glj Research reiterated a “sell” rating and issued a $7.78 price objective on shares of Sunrun in a report on Thursday, November 7th. StockNews.com upgraded Sunrun to a “sell” rating in a report on Friday, December 20th. Finally, BMO Capital Markets dropped 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.61.

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.