Edgestream Partners L.P. Buys 107,377 Shares of Sunrun Inc. $RUN

Edgestream Partners L.P. boosted its stake in Sunrun Inc. (NASDAQ:RUN) by 124.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 193,632 shares of the energy company’s stock after purchasing an additional 107,377 shares during the period. Edgestream Partners L.P. owned approximately 0.08% of Sunrun worth $1,584,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Spire Wealth Management boosted its stake in shares of Sunrun by 960.0% in the 2nd quarter. Spire Wealth Management now owns 5,300 shares of the energy company’s stock worth $43,000 after buying an additional 4,800 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Sunrun by 87.1% in the second quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the energy company’s stock worth $47,000 after purchasing an additional 2,700 shares during the last quarter. Signaturefd LLC boosted its position in Sunrun by 436.4% in the second quarter. Signaturefd LLC now owns 7,805 shares of the energy company’s stock worth $64,000 after purchasing an additional 6,350 shares during the last quarter. US Bancorp DE grew its stake in shares of Sunrun by 107.6% during the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company’s stock valued at $60,000 after purchasing an additional 5,342 shares during the period. Finally, Sage Rhino Capital LLC purchased a new stake in shares of Sunrun during the 2nd quarter valued at about $87,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RUN shares. Royal Bank Of Canada raised their price objective on shares of Sunrun from $16.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. BMO Capital Markets set a $19.00 price target on shares of Sunrun and gave the stock a “market perform” rating in a research report on Wednesday, October 15th. UBS Group lifted their price target on shares of Sunrun from $16.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Glj Research raised shares of Sunrun from a “sell” rating to a “hold” rating in a research report on Friday, August 15th. Finally, Zacks Research lowered Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Sunrun presently has an average rating of “Moderate Buy” and an average price target of $19.58.

Insider Activity

In other Sunrun news, insider Jeanna Steele sold 4,475 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $21.71, for a total transaction of $97,152.25. Following the completion of the sale, the insider directly owned 361,789 shares of the company’s stock, valued at $7,854,439.19. This trade represents a 1.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Danny Abajian sold 9,055 shares of the business’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $19.35, for a total transaction of $175,214.25. Following the completion of the transaction, the chief financial officer directly owned 424,606 shares in the company, valued at $8,216,126.10. This trade represents a 2.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 329,726 shares of company stock valued at $6,377,770 in the last three months. 3.37% of the stock is currently owned by insiders.

Sunrun Stock Down 4.2%

RUN opened at $17.58 on Friday. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of -1.57 and a beta of 2.35. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.06 and a current ratio of 1.46. The firm’s fifty day moving average is $19.29 and its 200 day moving average is $14.21. Sunrun Inc. has a fifty-two week low of $5.38 and a fifty-two week high of $22.44.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Sunrun had a positive return on equity of 19.34% and a negative net margin of 106.50%.The business had revenue of $724.56 million during the quarter, compared to analyst estimates of $601.15 million. During the same quarter in the prior year, the business posted ($0.37) EPS. Sunrun’s revenue for the quarter was up 34.9% compared to the same quarter last year. On average, sell-side analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

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.