Symmetry Investments LP Acquires New Shares in Sunrun Inc. (NASDAQ:RUN)

Symmetry Investments LP acquired a new stake in shares of Sunrun Inc. (NASDAQ:RUN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 101,600 shares of the energy company’s stock, valued at approximately $1,205,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RUN. Vanguard Group Inc. boosted its position in Sunrun by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 19,581,958 shares of the energy company’s stock worth $384,394,000 after acquiring an additional 176,861 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Sunrun by 142.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,702 shares of the energy company’s stock worth $3,199,000 after acquiring an additional 142,563 shares during the period. Dimensional Fund Advisors LP boosted its position 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 worth $54,617,000 after acquiring an additional 179,688 shares during the period. State of Alaska Department of Revenue boosted its position in Sunrun by 466.2% during the 1st quarter. State of Alaska Department of Revenue now owns 132,878 shares of the energy company’s stock worth $1,751,000 after acquiring an additional 109,411 shares during the period. Finally, Axxcess Wealth Management LLC acquired a new position in Sunrun during the 1st quarter worth $171,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Stock Down 1.2 %

NASDAQ:RUN opened at $18.91 on Friday. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of -2.84 and a beta of 2.59. Sunrun Inc. has a 1-year low of $8.43 and a 1-year high of $22.26. 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 business’s fifty day moving average price is $18.54 and its 200 day moving average price is $14.41.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.88. The firm had revenue of $523.87 million for the quarter, compared to analyst estimates of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. Sunrun’s quarterly revenue was down 11.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. On average, sell-side analysts forecast that Sunrun Inc. will post -0.16 earnings per share for the current fiscal year.

Insider Activity at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the transaction, the director now directly owns 1,192,446 shares of the company’s stock, valued at $24,087,409.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $20.20, for a total value of $1,010,000.00. Following the transaction, the director now directly owns 1,192,446 shares of the company’s stock, valued at approximately $24,087,409.20. The sale was disclosed in a legal filing with the SEC, which is accessible 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 stock was sold at an average price of $12.62, for a total value of $70,280.78. Following the completion of the transaction, the chief executive officer now directly owns 581,341 shares in the company, valued at $7,336,523.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,675 shares of company stock valued at $3,253,289. Company insiders own 3.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Barclays upped their price objective on Sunrun from $16.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Susquehanna upped their price objective on Sunrun from $23.00 to $24.00 and gave the company a “positive” rating in a report on Monday, July 15th. Truist Financial restated a “hold” rating and issued a $18.00 price objective (up previously from $12.00) on shares of Sunrun in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their price objective on Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Sunrun currently has an average rating of “Moderate Buy” and a consensus target price of $22.98.

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.