Hsbc Holdings PLC Has $1.28 Million Stake in Sunrun Inc. (NASDAQ:RUN)

Hsbc Holdings PLC increased its holdings in Sunrun Inc. (NASDAQ:RUN) by 23.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,415 shares of the energy company’s stock after buying an additional 20,247 shares during the period. Hsbc Holdings PLC’s holdings in Sunrun were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV raised its position in shares of Sunrun by 3.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 49,762 shares of the energy company’s stock valued at $600,000 after buying an additional 1,485 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Sunrun by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock valued at $52,025,000 after buying an additional 729,633 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in Sunrun during the second quarter valued at approximately $56,000. Diversify Wealth Management LLC acquired a new position in Sunrun during the second quarter valued at approximately $2,521,000. Finally, American Century Companies Inc. raised its position in Sunrun by 27.2% during the second quarter. American Century Companies Inc. now owns 228,990 shares of the energy company’s stock valued at $2,716,000 after purchasing an additional 49,007 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Stock Performance

Shares of RUN opened at $18.50 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $4.14 billion, a P/E ratio of -2.77 and a beta of 2.59. The firm’s fifty day simple moving average is $18.73 and its two-hundred day simple moving average is $14.63. Sunrun Inc. has a 12 month low of $8.43 and a 12 month high of $22.26.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, beating 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 quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. As a group, analysts predict that Sunrun Inc. will post -0.16 EPS for the current year.

Insider Activity

In other news, CEO Mary Powell sold 5,569 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $12.62, for a total transaction of $70,280.78. Following the transaction, the chief executive officer now owns 581,341 shares in the company, valued at $7,336,523.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 transaction of $35,311.51. Following the transaction, the director now owns 1,242,446 shares in the company, valued at $22,649,790.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mary Powell sold 5,569 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $12.62, for a total transaction of $70,280.78. Following the transaction, the chief executive officer now owns 581,341 shares in the company, valued at approximately $7,336,523.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 178,675 shares of company stock worth $3,253,289. Company insiders own 3.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Susquehanna boosted their target price on shares of Sunrun from $23.00 to $24.00 and gave the stock a “positive” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. boosted their target price 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. StockNews.com raised shares of Sunrun to a “sell” rating in a research note on Friday. Truist Financial reaffirmed a “hold” rating and set a $18.00 target price (up previously from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. Finally, Oppenheimer boosted their target price 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sunrun presently has an average rating of “Moderate Buy” and an average price target 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.