12,971 Shares in Sunrun Inc. (NASDAQ:RUN) Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. acquired a new position in shares of Sunrun Inc. (NASDAQ:RUN) in the 3rd quarter, HoldingsChannel reports. The firm acquired 12,971 shares of the energy company’s stock, valued at approximately $255,000.

Several other large investors have also recently made changes to their positions in RUN. International Assets Investment Management LLC lifted its stake in Sunrun by 1,706.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after purchasing an additional 1,638 shares in the last quarter. Blue Trust Inc. lifted its position in Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after buying an additional 1,465 shares in the last quarter. BNP Paribas acquired a new position in Sunrun during the first quarter worth $37,000. Duncker Streett & Co. Inc. purchased a new stake in Sunrun in the 2nd quarter valued at $36,000. Finally, CWM LLC increased its stake in shares of Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after acquiring an additional 3,014 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $20.00 price target on shares of Sunrun in a research report on Wednesday, September 25th. Piper Sandler increased their price target on shares of Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a research note 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. Barclays cut their target price on Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Finally, StockNews.com raised Sunrun to a “sell” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.70.

Insider Activity at Sunrun

In other news, insider Jeanna Steele sold 24,161 shares of Sunrun stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $19.24, for a total transaction of $464,857.64. Following the completion of the sale, the insider now directly owns 310,617 shares of the company’s stock, valued at approximately $5,976,271.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sunrun news, CEO Mary Powell sold 2,148 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total transaction of $40,360.92. Following the sale, the chief executive officer now owns 579,193 shares of the company’s stock, valued at approximately $10,883,036.47. This trade represents a 0.00 % 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, insider Jeanna Steele sold 24,161 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $19.24, for a total transaction of $464,857.64. Following the completion of the transaction, the insider now owns 310,617 shares of the company’s stock, valued at approximately $5,976,271.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 180,001 shares of company stock valued at $3,220,345 over the last 90 days. 3.77% of the stock is owned by corporate insiders.

Sunrun Trading Up 2.1 %

Shares of RUN stock opened at $14.76 on Monday. Sunrun Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $22.26. The company has a 50 day moving average price of $17.33 and a 200 day moving average price of $15.32. The stock has a market capitalization of $3.30 billion, a P/E ratio of -2.32 and a beta of 2.61. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66.

Sunrun (NASDAQ:RUN) last posted 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. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The business had revenue of $523.87 million for the quarter, compared to analyst estimates of $516.76 million. During the same quarter in the prior year, the company earned $0.25 earnings per share. The company’s revenue was down 11.2% on a year-over-year basis. Equities research analysts predict that Sunrun Inc. will post -0.17 EPS for the current fiscal year.

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.