Cibc World Markets Corp Invests $189,000 in Sunrun Inc. (NASDAQ:RUN)

Cibc World Markets Corp purchased a new stake in shares of Sunrun Inc. (NASDAQ:RUN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,457 shares of the energy company’s stock, valued at approximately $189,000.

Other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc raised its position in Sunrun by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company’s stock valued at $229,000 after purchasing an additional 1,360 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in Sunrun by 133.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after buying an additional 2,000 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Sunrun during the 3rd quarter valued at $44,000. The Manufacturers Life Insurance Company lifted its position in Sunrun by 1.1% in the third quarter. The Manufacturers Life Insurance Company now owns 233,551 shares of the energy company’s stock worth $4,218,000 after buying an additional 2,441 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Sunrun by 23.2% during the fourth quarter. Empowered Funds LLC now owns 13,734 shares of the energy company’s stock valued at $127,000 after acquiring an additional 2,588 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Wall Street Analyst Weigh In

RUN has been the subject of several analyst reports. Truist Financial restated a “hold” rating and issued a $9.00 target price (down previously from $12.00) on shares of Sunrun in a report on Monday, March 3rd. Roth Capital set a $20.00 target price on Sunrun in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their price target on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. The Goldman Sachs Group dropped their price objective on Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Barclays reduced their target price on Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.20.

Insiders Place Their Bets

In other Sunrun news, CRO Paul S. Dickson sold 2,968 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $33,182.24. Following the sale, the executive now directly owns 418,492 shares of the company’s stock, valued at approximately $4,678,740.56. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward Harris Fenster purchased 150,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now directly owns 1,358,182 shares in the company, valued at $9,235,637.60. This trade represents a 12.42 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 121,466 shares of company stock valued at $1,136,397. Insiders own 3.77% of the company’s stock.

Sunrun Price Performance

Shares of RUN stock opened at $6.21 on Thursday. Sunrun Inc. has a fifty-two week low of $5.93 and a fifty-two week high of $22.26. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -3.41 and a beta of 2.84. The stock’s 50-day simple moving average is $8.03 and its 200-day simple moving average is $11.41.

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.