Raymond James & Associates Decreases Stock Holdings in Sunrun Inc. (NASDAQ:RUN)

Raymond James & Associates trimmed its position in Sunrun Inc. (NASDAQ:RUN) by 35.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,415 shares of the energy company’s stock after selling 44,335 shares during the quarter. Raymond James & Associates’ holdings in Sunrun were worth $1,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Sunrun in the third quarter valued at $26,000. C M Bidwell & Associates Ltd. boosted its holdings in Sunrun by 1,483.9% in the third quarter. C M Bidwell & Associates Ltd. now owns 2,360 shares of the energy company’s stock valued at $30,000 after acquiring an additional 2,211 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Sunrun by 149.7% in the fourth 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. Hexagon Capital Partners LLC boosted its holdings in Sunrun by 69.8% in the third quarter. Hexagon Capital Partners LLC now owns 3,345 shares of the energy company’s stock valued at $42,000 after acquiring an additional 1,375 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its holdings in Sunrun by 735.2% in the first quarter. Belpointe Asset Management LLC now owns 2,113 shares of the energy company’s stock valued at $43,000 after acquiring an additional 1,860 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Price Performance

RUN opened at $10.11 on Friday. Sunrun Inc. has a 12-month low of $8.43 and a 12-month high of $23.85. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 1.68. The business’s fifty day simple moving average is $12.47 and its 200-day simple moving average is $13.17. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -1.37 and a beta of 2.46.

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) 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 analysts’ expectations of $499.74 million. On average, equities research analysts anticipate that Sunrun Inc. will post -1.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RUN. Royal Bank of Canada cut their price target on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Mizuho lifted their price target on Sunrun from $23.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Susquehanna reaffirmed a “positive” rating and issued a $25.00 price target on shares of Sunrun in a research report on Friday, April 5th. Piper Sandler lowered their price target on Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, February 22nd. Finally, KeyCorp reissued a “sector weight” rating on shares of Sunrun in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, seven have given 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 a consensus price target of $21.53.

Insider Buying and Selling

In related news, Director Edward Harris Fenster sold 172,920 shares of Sunrun stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the completion of the sale, the director now owns 1,261,317 shares of the company’s stock, valued at $15,072,738.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Edward Harris Fenster sold 172,920 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was 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 directly owns 1,261,317 shares of the company’s stock, valued at approximately $15,072,738.15. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Danny Abajian sold 17,440 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $12.07, for a total value of $210,500.80. Following the transaction, the chief financial officer now directly owns 163,734 shares of the company’s stock, valued at $1,976,269.38. The disclosure for this sale can be found here. Insiders sold 301,760 shares of company stock valued at $3,615,990 over the last quarter. 3.76% of the stock is currently owned by company insiders.

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.