Electron Capital Partners LLC Sells 35,433 Shares of Sunrun Inc. (NASDAQ:RUN)

Electron Capital Partners LLC reduced its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 38.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,301 shares of the energy company’s stock after selling 35,433 shares during the period. Electron Capital Partners LLC’s holdings in Sunrun were worth $668,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in Sunrun during the 2nd quarter worth about $436,000. Caxton Associates LP grew its holdings in Sunrun by 33.5% during the 2nd quarter. Caxton Associates LP now owns 69,089 shares of the energy company’s stock worth $819,000 after acquiring an additional 17,347 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sunrun during the 2nd quarter worth about $104,000. Point72 DIFC Ltd acquired a new stake in Sunrun during the 2nd quarter worth about $5,478,000. Finally, Sagefield Capital LP grew its holdings in Sunrun by 16.4% during the 2nd quarter. Sagefield Capital LP now owns 114,785 shares of the energy company’s stock worth $1,361,000 after acquiring an additional 16,160 shares during the period. 91.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Sunrun news, Director Lynn Michelle Jurich sold 1,937 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $35,311.51. Following the sale, the director now owns 1,242,446 shares in the company, valued at $22,649,790.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Lynn Michelle Jurich sold 1,937 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $18.23, for a total transaction of $35,311.51. Following the sale, the director now owns 1,242,446 shares in the company, valued at $22,649,790.58. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeanna Steele sold 2,513 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.61, for a total transaction of $31,688.93. Following the sale, the insider now owns 312,774 shares in the company, valued at approximately $3,944,080.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,675 shares of company stock worth $3,253,289. 3.76% of the stock is currently owned by company insiders.

Sunrun Price Performance

RUN stock opened at $18.29 on Thursday. Sunrun Inc. has a 1 year low of $8.43 and a 1 year high of $22.26. The company has a market cap of $4.09 billion, a P/E ratio of -2.74 and a beta of 2.59. The firm has a 50-day moving average of $18.66 and a 200 day moving average of $14.56. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. The business had revenue of $523.87 million for the quarter, compared to analysts’ expectations 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 revenue was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. On average, sell-side analysts forecast that Sunrun Inc. will post -0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. UBS Group raised their target price on Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Truist Financial restated a “hold” rating and issued a $18.00 target price (up from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. Barclays lifted their price target on Sunrun from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a research note on Thursday, August 8th. Finally, BMO Capital Markets lifted their price target on Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.33.

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.