Sunrun Inc. (NASDAQ:RUN) Stake Boosted by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in Sunrun Inc. (NASDAQ:RUN) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 263,138 shares of the energy company’s stock after purchasing an additional 19,288 shares during the quarter. Van ECK Associates Corp owned approximately 0.12% of Sunrun worth $5,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of RUN. Fifth Third Bancorp grew its stake in Sunrun by 76.9% during the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after acquiring an additional 764 shares in the last quarter. Retirement Systems of Alabama grew its stake in Sunrun by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 272,010 shares of the energy company’s stock valued at $5,340,000 after acquiring an additional 833 shares in the last quarter. Granite Bay Wealth Management LLC grew its stake in Sunrun by 1.6% during the 4th quarter. Granite Bay Wealth Management LLC now owns 71,370 shares of the energy company’s stock valued at $1,401,000 after acquiring an additional 1,125 shares in the last quarter. Versant Capital Management Inc grew its stake in Sunrun by 149.7% during the 4th quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock valued at $37,000 after acquiring an additional 1,127 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in Sunrun by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 61,391 shares of the energy company’s stock valued at $771,000 after acquiring an additional 1,166 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Royal Bank of Canada lowered their price target on Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. BMO Capital Markets raised their price objective on shares of Sunrun from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, February 22nd. Mizuho decreased their target price on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Finally, Truist Financial restated a “hold” rating and set a $14.00 price target (down previously from $15.00) on shares of Sunrun in a research note on Monday, February 26th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.26.

Sunrun Stock Up 8.7 %

Shares of RUN opened at $11.90 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26. The company has a 50-day simple moving average of $11.35 and a 200-day simple moving average of $13.12. Sunrun Inc. has a 52 week low of $8.43 and a 52 week high of $23.85. The firm has a market capitalization of $2.64 billion, a P/E ratio of -1.61 and a beta of 2.50.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($1.20). Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. The company had revenue of $516.59 million during the quarter, compared to the consensus estimate of $499.74 million. On average, equities research analysts expect that Sunrun Inc. will post -1.69 earnings per share for the current year.

Insider Activity at Sunrun

In related news, Director Edward Harris Fenster sold 172,920 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $11.95, for a total value of $2,066,394.00. Following the completion of the sale, the director now owns 1,261,317 shares in the company, valued at $15,072,738.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Sunrun news, Director Edward Harris Fenster sold 172,920 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the completion of the transaction, the director now owns 1,261,317 shares in the company, valued at $15,072,738.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lynn Michelle Jurich sold 2,836 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.01, for a total transaction of $28,388.36. Following the transaction, the director now owns 1,399,810 shares of the company’s stock, valued at approximately $14,012,098.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 301,760 shares of company stock worth $3,615,990. Company insiders own 3.76% of the company’s stock.

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.