Sage Rhino Capital LLC Purchases New Position in Sunrun Inc. (NASDAQ:RUN)

Sage Rhino Capital LLC purchased a new stake in Sunrun Inc. (NASDAQ:RUN) in the second quarter, HoldingsChannel reports. The institutional investor purchased 10,126 shares of the energy company’s stock, valued at approximately $120,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BNP Paribas purchased a new stake in shares of Sunrun in the first quarter valued at about $37,000. CWM LLC raised its holdings in shares of Sunrun by 883.9% in the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after buying an additional 3,014 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Sunrun in the second quarter valued at about $45,000. Headlands Technologies LLC purchased a new stake in shares of Sunrun in the first quarter valued at about $53,000. Finally, Manchester Capital Management LLC raised its holdings in shares of Sunrun by 41.9% in the fourth quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock valued at $62,000 after buying an additional 938 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Trading Up 1.9 %

Shares of NASDAQ RUN opened at $20.52 on Friday. Sunrun Inc. has a 12-month low of $8.43 and a 12-month high of $22.26. 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 firm’s 50-day moving average is $16.75 and its two-hundred day moving average is $13.87.

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 net margin of 66.36% and a negative return on equity of 2.41%. The company had revenue of $523.87 million for the quarter, compared to the consensus estimate of $516.76 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The company’s revenue for the quarter was down 11.2% compared to the same quarter last year. Research analysts anticipate that Sunrun Inc. will post -0.37 EPS for the current year.

Analyst Upgrades and Downgrades

RUN has been the subject of a number of research reports. Evercore ISI reduced their target price on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Truist Financial reiterated a “hold” rating and set a $18.00 price target (up from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. UBS Group boosted their price target on shares of Sunrun from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Oppenheimer boosted their price target on shares of Sunrun from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.98.

Insider Activity at Sunrun

In related news, CEO Mary Powell sold 3,017 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $14.45, for a total transaction of $43,595.65. Following the transaction, the chief executive officer now owns 586,910 shares of the company’s stock, valued at $8,480,849.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Sunrun news, CFO Danny Abajian sold 2,092 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $14.43, for a total transaction of $30,187.56. Following the transaction, the chief financial officer now owns 288,448 shares of the company’s stock, valued at $4,162,304.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mary Powell sold 3,017 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $14.45, for a total transaction of $43,595.65. Following the transaction, the chief executive officer now directly owns 586,910 shares in the company, valued at approximately $8,480,849.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 277,929 shares of company stock valued at $4,187,789. Company insiders own 3.76% of the company’s stock.

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.