Norden Group LLC Raises Stock Holdings in Sunrun Inc. (NASDAQ:RUN)

Norden Group LLC increased its holdings in shares of Sunrun Inc. (NASDAQ:RUN) by 709.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 957,072 shares of the energy company’s stock after purchasing an additional 838,838 shares during the quarter. Norden Group LLC owned approximately 0.44% of Sunrun worth $12,614,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Sunrun by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 19,581,958 shares of the energy company’s stock worth $384,394,000 after purchasing an additional 176,861 shares in the last quarter. Greenvale Capital LLP grew its holdings in Sunrun by 15.3% during the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock valued at $162,929,000 after buying an additional 1,100,000 shares in the last quarter. Robeco Schweiz AG grew its holdings in Sunrun by 4.3% during the 4th quarter. Robeco Schweiz AG now owns 3,735,300 shares of the energy company’s stock valued at $73,324,000 after buying an additional 154,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Sunrun by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,781,951 shares of the energy company’s stock valued at $54,617,000 after buying an additional 179,688 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Sunrun by 112.9% during 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. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RUN. Jefferies Financial Group cut their price target on Sunrun from $32.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Morgan Stanley raised their price target on Sunrun from $24.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Mizuho lowered their price objective on Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Royal Bank of Canada lowered their price objective on Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. Finally, Susquehanna lowered their price objective on Sunrun from $25.00 to $23.00 and set a “positive” rating for the company in a research note on Thursday, May 9th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.47.

Insider Activity

In other news, CEO Mary Powell sold 22,549 shares of Sunrun stock in a transaction on Monday, April 8th. The stock was sold at an average price of $12.07, for a total value of $272,166.43. Following the transaction, the chief executive officer now directly owns 379,768 shares in the company, valued at approximately $4,583,799.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Sunrun news, CRO Paul S. Dickson sold 14,945 shares of Sunrun stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $12.07, for a total transaction of $180,386.15. Following the completion of the sale, the executive now owns 283,772 shares of the company’s stock, valued at approximately $3,425,128.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mary Powell sold 22,549 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $12.07, for a total value of $272,166.43. Following the completion of the transaction, the chief executive officer now directly owns 379,768 shares of the company’s stock, valued at approximately $4,583,799.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 427,143 shares of company stock worth $5,502,579. 3.76% of the stock is currently owned by company insiders.

Sunrun Trading Up 11.1 %

RUN opened at $12.16 on Thursday. The stock’s fifty day moving average is $12.55 and its two-hundred day moving average is $13.48. The company has a market capitalization of $2.70 billion, a P/E ratio of -1.82 and a beta of 2.61. Sunrun Inc. has a 52 week low of $8.43 and a 52 week high of $23.85. The company has a quick ratio of 0.99, a current ratio of 1.31 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.09. Sunrun had a negative return on equity of 3.58% and a negative net margin of 68.22%. The company had revenue of $458.20 million for the quarter, compared to the consensus estimate of $471.38 million. During the same period last year, the business posted ($1.12) EPS. Sunrun’s quarterly revenue was down 22.3% on a year-over-year basis. Analysts forecast that Sunrun Inc. will post -1.27 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.