SIR Capital Management L.P. Has $5.51 Million Position in Sunrun Inc. (NASDAQ:RUN)

SIR Capital Management L.P. cut its stake in Sunrun Inc. (NASDAQ:RUN) by 70.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 464,588 shares of the energy company’s stock after selling 1,091,288 shares during the quarter. SIR Capital Management L.P.’s holdings in Sunrun were worth $5,510,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RUN. Vanguard Group Inc. grew its stake in Sunrun by 14.0% in the first quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock valued at $294,245,000 after acquiring an additional 2,743,148 shares during the period. Norges Bank bought a new stake in Sunrun during the 4th quarter worth approximately $23,186,000. Greenvale Capital LLP increased its stake in Sunrun by 15.3% during the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock worth $162,929,000 after purchasing an additional 1,100,000 shares in the last quarter. Masters Capital Management LLC acquired a new stake in Sunrun during the 4th quarter worth approximately $19,630,000. Finally, Robeco Schweiz AG lifted its stake in Sunrun by 23.5% in the first quarter. Robeco Schweiz AG now owns 4,611,300 shares of the energy company’s stock valued at $60,777,000 after buying an additional 876,000 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sunrun

In other Sunrun news, CEO Mary Powell sold 2,148 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total value of $40,360.92. Following the transaction, the chief executive officer now directly owns 579,193 shares of the company’s stock, valued at approximately $10,883,036.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CRO Paul S. Dickson sold 3,855 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $12.62, for a total value of $48,650.10. Following the completion of the sale, the executive now owns 443,329 shares of the company’s stock, valued at $5,594,811.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mary Powell sold 2,148 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.79, for a total transaction of $40,360.92. Following the transaction, the chief executive officer now directly owns 579,193 shares in the company, valued at $10,883,036.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,293 shares of company stock worth $3,249,709. 3.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RUN has been the topic of a number of research analyst reports. Oppenheimer raised their price objective on shares of Sunrun from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. The Goldman Sachs Group lifted their price target on Sunrun from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Morgan Stanley lifted their target price on Sunrun from $31.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Piper Sandler upped their price target on Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and an average target price of $22.98.

Sunrun Stock Performance

RUN opened at $17.29 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of -2.59 and a beta of 2.59. Sunrun Inc. has a 12-month low of $8.43 and a 12-month high of $22.26. The business has a 50 day moving average of $17.51 and a 200-day moving average of $13.98.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The business had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. During the same quarter last year, the firm posted $0.25 EPS. The company’s quarterly revenue was down 11.2% on a year-over-year basis. On average, equities research analysts expect that Sunrun Inc. will post -0.16 earnings per share for the current year.

About Sunrun

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.