Mirae Asset Global Investments Co. Ltd. Purchases 18,076 Shares of Sunrun Inc. (NASDAQ:RUN)

Mirae Asset Global Investments Co. Ltd. raised its position in Sunrun Inc. (NASDAQ:RUNGet Rating) by 11.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 174,884 shares of the energy company’s stock after buying an additional 18,076 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of Sunrun worth $5,311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RUN. CWM LLC boosted its stake in Sunrun by 512.3% in the first quarter. CWM LLC now owns 845 shares of the energy company’s stock valued at $26,000 after buying an additional 707 shares in the last quarter. Clearstead Advisors LLC grew its holdings in shares of Sunrun by 743.6% during the 1st quarter. Clearstead Advisors LLC now owns 928 shares of the energy company’s stock valued at $28,000 after purchasing an additional 818 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Sunrun by 120.6% during the 1st quarter. Fifth Third Bancorp now owns 1,006 shares of the energy company’s stock valued at $31,000 after purchasing an additional 550 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Sunrun during the 1st quarter worth approximately $32,000. Finally, Verity Asset Management Inc. bought a new position in Sunrun in the 1st quarter valued at approximately $35,000. 90.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wells Fargo & Company began coverage on Sunrun in a research note on Wednesday, June 29th. They issued an “equal weight” rating and a $27.00 price target for the company. Piper Sandler boosted their price target on Sunrun from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, August 4th. Barclays assumed coverage on shares of Sunrun in a report on Friday, August 5th. They issued an “overweight” rating and a $46.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Sunrun from $52.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, August 8th. Finally, Morgan Stanley raised their price target on shares of Sunrun from $70.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, August 18th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.47.

Sunrun Stock Down 5.4 %

Shares of NASDAQ RUN opened at $32.50 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.73 and a debt-to-equity ratio of 1.08. The firm has a market cap of $6.89 billion, a PE ratio of -58.04 and a beta of 2.26. The company’s fifty day simple moving average is $32.35 and its 200 day simple moving average is $27.90. Sunrun Inc. has a 12-month low of $16.80 and a 12-month high of $60.60.

Sunrun (NASDAQ:RUNGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The energy company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.14. Sunrun had a negative net margin of 5.86% and a negative return on equity of 1.39%. The company had revenue of $584.58 million for the quarter, compared to analysts’ expectations of $485.04 million. As a group, sell-side analysts forecast that Sunrun Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunrun

In other Sunrun news, insider Jeanna Steele sold 799 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $37.03, for a total transaction of $29,586.97. Following the completion of the sale, the insider now owns 156,392 shares in the company, valued at approximately $5,791,195.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Lynn Michelle Jurich sold 75,000 shares of Sunrun stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $37.63, for a total transaction of $2,822,250.00. Following the transaction, the insider now owns 1,458,116 shares of the company’s stock, valued at $54,868,905.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeanna Steele sold 799 shares of the stock in a transaction on Monday, September 19th. The shares were sold at an average price of $37.03, for a total value of $29,586.97. Following the completion of the sale, the insider now directly owns 156,392 shares of the company’s stock, valued at $5,791,195.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 362,151 shares of company stock valued at $12,352,116. Company insiders own 4.29% of the company’s stock.

About Sunrun

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Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.

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Institutional Ownership by Quarter for Sunrun (NASDAQ:RUN)

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