Lighthouse Investment Partners LLC Invests $92,000 in Sunrun Inc. (NASDAQ:RUN)

Lighthouse Investment Partners LLC purchased a new stake in Sunrun Inc. (NASDAQ:RUN) during the 4th quarter, HoldingsChannel reports. The fund purchased 10,000 shares of the energy company’s stock, valued at approximately $92,000.

Several other hedge funds have also recently bought and sold shares of RUN. Franklin Resources Inc. acquired a new position in Sunrun in the third quarter worth $896,000. Wealth Enhancement Advisory Services LLC acquired a new position in Sunrun during the 4th quarter worth about $94,000. Assenagon Asset Management S.A. lifted its position in Sunrun by 36.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,877,502 shares of the energy company’s stock worth $17,367,000 after buying an additional 501,918 shares in the last quarter. SG Americas Securities LLC increased its position in Sunrun by 40.4% in the 4th quarter. SG Americas Securities LLC now owns 74,893 shares of the energy company’s stock valued at $693,000 after acquiring an additional 21,533 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Sunrun in the 4th quarter valued at about $118,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RUN. Barclays reduced their target price on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. The Goldman Sachs Group lowered their target price on Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Citigroup reaffirmed a “neutral” rating and set a $7.00 price target on shares of Sunrun in a research note on Thursday, April 17th. Truist Financial restated a “hold” rating and set a $6.00 target price (down from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada decreased their target price on Sunrun from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Sunrun presently has a consensus rating of “Hold” and a consensus price target of $14.92.

Sunrun Trading Up 1.2%

Shares of NASDAQ:RUN opened at $12.85 on Friday. Sunrun Inc. has a 52-week low of $5.45 and a 52-week high of $22.26. The company has a market capitalization of $2.94 billion, a P/E ratio of -7.06 and a beta of 2.66. The company has a 50-day simple moving average of $7.18 and a 200 day simple moving average of $8.98. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.42. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The firm had revenue of $504.27 million for the quarter, compared to analyst estimates of $487.29 million. During the same period in the prior year, the firm posted ($0.40) EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Sell-side analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current year.

Insider Activity at Sunrun

In other news, Director Edward Harris Fenster acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average price of $10.87 per share, with a total value of $543,500.00. Following the acquisition, the director now directly owns 1,408,182 shares in the company, valued at $15,306,938.34. The trade was a 3.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeanna Steele sold 9,942 shares of Sunrun stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $67,009.08. Following the sale, the insider now owns 291,238 shares in the company, valued at approximately $1,962,944.12. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 138,540 shares of company stock valued at $1,050,944 over the last quarter. 3.77% of the stock is owned by corporate insiders.

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.