State of Alaska Department of Revenue Boosts Stake in Sunrun Inc. $RUN

State of Alaska Department of Revenue lifted its position in Sunrun Inc. (NASDAQ:RUN) by 9.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 135,947 shares of the energy company’s stock after acquiring an additional 11,643 shares during the period. State of Alaska Department of Revenue owned 0.06% of Sunrun worth $1,111,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Apollon Wealth Management LLC bought a new position in Sunrun in the first quarter worth $60,000. US Bancorp DE grew its position in shares of Sunrun by 107.6% in the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company’s stock worth $60,000 after buying an additional 5,342 shares during the period. PharVision Advisers LLC purchased a new stake in shares of Sunrun in the 1st quarter worth about $69,000. Alterna Wealth Management Inc. increased its stake in shares of Sunrun by 16.6% in the 1st quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company’s stock worth $71,000 after acquiring an additional 1,720 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Sunrun by 14.7% during the 1st quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company’s stock valued at $72,000 after acquiring an additional 1,571 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RUN shares. Susquehanna upped their price objective on shares of Sunrun from $12.00 to $13.00 and gave the stock a “positive” rating in a report on Thursday, August 7th. KeyCorp raised Sunrun from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, July 8th. Wells Fargo & Company raised their price objective on Sunrun from $8.00 to $14.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. lifted their price objective on Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Finally, Cowen reissued a “buy” rating on shares of Sunrun in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.60.

Insider Activity at Sunrun

In other Sunrun news, CFO Danny Abajian sold 2,180 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $16.93, for a total value of $36,907.40. Following the transaction, the chief financial officer owned 435,479 shares of the company’s stock, valued at approximately $7,372,659.47. This represents a 0.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mary Powell sold 3,142 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $16.93, for a total value of $53,194.06. Following the sale, the chief executive officer owned 888,289 shares of the company’s stock, valued at approximately $15,038,732.77. This represents a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 193,092 shares of company stock valued at $3,464,174 in the last 90 days. 3.37% of the stock is owned by company insiders.

Sunrun Stock Down 0.2%

Shares of Sunrun stock opened at $19.11 on Monday. Sunrun Inc. has a twelve month low of $5.38 and a twelve month high of $20.02. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70. The company’s 50 day moving average is $14.86 and its 200 day moving average is $10.51. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -1.65 and a beta of 2.41.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $1.25. The business had revenue of $569.34 million during the quarter, compared to analyst estimates of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. Research analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current year.

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.