Sunrun Inc. (NASDAQ:RUN) Position Lowered by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. decreased its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 25.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,644 shares of the energy company’s stock after selling 7,565 shares during the period. Harvest Portfolios Group Inc.’s holdings in Sunrun were worth $409,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of RUN. Sylebra Capital LLC acquired a new stake in Sunrun during the second quarter worth about $35,387,000. Vanguard Group Inc. raised its stake in Sunrun by 14.0% during the first quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after acquiring an additional 2,743,148 shares during the period. Greenvale Capital LLP raised its stake in Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after acquiring an additional 2,000,000 shares during the period. Senator Investment Group LP acquired a new stake in Sunrun during the second quarter worth about $11,860,000. Finally, Assenagon Asset Management S.A. raised its stake in Sunrun by 207.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock worth $24,843,000 after acquiring an additional 927,947 shares during the period. Institutional investors own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Susquehanna dropped their price target on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. Truist Financial restated a “hold” rating and issued a $18.00 price target (up previously from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. Jefferies Financial Group lowered their price objective on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a research note on Thursday, August 8th. Finally, Barclays lowered their price objective on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.77.

Insider Buying and Selling

In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Friday, October 18th. The shares were sold at an average price of $14.60, for a total value of $730,000.00. Following the transaction, the director now owns 1,142,446 shares in the company, valued at $16,679,711.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Sunrun news, CEO Mary Powell sold 6,415 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $16.34, for a total value of $104,821.10. Following the sale, the chief executive officer now directly owns 569,368 shares in the company, valued at $9,303,473.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $14.60, for a total transaction of $730,000.00. Following the completion of the sale, the director now directly owns 1,142,446 shares in the company, valued at approximately $16,679,711.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 155,840 shares of company stock worth $2,755,487 in the last quarter. 3.77% of the stock is currently owned by company insiders.

Sunrun Stock Performance

Shares of RUN opened at $11.60 on Friday. The company has a market capitalization of $2.59 billion, a PE ratio of -1.82 and a beta of 2.61. Sunrun Inc. has a one year low of $8.82 and a one year high of $22.26. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31. The company’s fifty day moving average price is $16.80 and its 200 day moving average price is $15.39.

Sunrun (NASDAQ:RUN) last announced its earnings results on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, topping the consensus estimate of ($0.33) by $0.88. The firm had revenue of $523.87 million for the quarter, compared to the consensus estimate of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The business’s quarterly revenue was down 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. As a group, analysts expect that Sunrun Inc. will post -0.17 earnings per share for the current 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.