Daiwa Securities Group Inc. Invests $1.28 Million in Sunrun Inc. (NASDAQ:RUN)

Daiwa Securities Group Inc. bought a new position in shares of Sunrun Inc. (NASDAQ:RUN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 65,000 shares of the energy company’s stock, valued at approximately $1,276,000.

Several other hedge funds have also modified their holdings of the company. Diversified Trust Co purchased a new position in Sunrun in the 4th quarter valued at about $221,000. Zweig DiMenna Associates LLC lifted its stake in Sunrun by 64.8% in the 3rd quarter. Zweig DiMenna Associates LLC now owns 206,913 shares of the energy company’s stock valued at $2,599,000 after buying an additional 81,363 shares in the last quarter. Vanguard Group Inc. lifted its stake in Sunrun by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,405,097 shares of the energy company’s stock valued at $243,728,000 after buying an additional 126,321 shares in the last quarter. Deutsche Bank AG lifted its stake in Sunrun by 112.9% in the 3rd quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock valued at $27,969,000 after buying an additional 1,180,823 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in Sunrun by 87.8% in the 3rd quarter. Jump Financial LLC now owns 97,123 shares of the energy company’s stock valued at $1,220,000 after buying an additional 45,412 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RUN has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on shares of Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. BMO Capital Markets raised their target price on shares of Sunrun from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Thursday, February 22nd. Truist Financial reissued a “hold” rating and issued a $14.00 target price (down from $15.00) on shares of Sunrun in a research note on Monday, February 26th. KeyCorp reissued a “sector weight” rating on shares of Sunrun in a research note on Thursday, January 4th. Finally, Mizuho decreased their target price on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Sunrun has a consensus rating of “Moderate Buy” and a consensus price target of $21.26.

Sunrun Trading Up 2.2 %

Sunrun stock opened at $10.27 on Wednesday. Sunrun Inc. has a fifty-two week low of $8.43 and a fifty-two week 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 firm has a 50 day moving average price of $12.12 and a 200 day moving average price of $13.20.

Sunrun (NASDAQ:RUN) last posted 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 analyst estimates of $499.74 million. Analysts forecast that Sunrun Inc. will post -1.74 EPS for the current fiscal year.

Insider Activity at Sunrun

In related news, Director Edward Harris Fenster sold 172,920 shares of Sunrun stock in a transaction that occurred on 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 approximately $15,072,738.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sunrun news, Director Edward Harris Fenster sold 172,920 shares of the business’s stock in a transaction on 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 transaction, the director now owns 1,261,317 shares in the company, valued at $15,072,738.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mary Powell sold 5,424 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $12.12, for a total transaction of $65,738.88. Following the completion of the transaction, the chief executive officer now owns 411,628 shares of the company’s stock, valued at approximately $4,988,931.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 301,760 shares of company stock worth $3,615,990. Insiders own 3.76% of the company’s stock.

Sunrun Company 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.