Insider Buying: Sunrun Inc. (NASDAQ:RUN) Director Acquires $1,020,000.00 in Stock

Sunrun Inc. (NASDAQ:RUN) Director Edward Harris Fenster bought 150,000 shares of Sunrun stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the transaction, the director now directly owns 1,358,182 shares of the company’s stock, valued at approximately $9,235,637.60. This trade represents a 12.42 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sunrun Trading Up 2.8 %

NASDAQ:RUN opened at $6.90 on Thursday. The stock has a 50-day simple moving average of $9.13 and a 200-day simple moving average of $12.85. The stock has a market cap of $1.55 billion, a P/E ratio of -3.79 and a beta of 2.59. Sunrun Inc. has a 1 year low of $5.93 and a 1 year 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its holdings in shares of Sunrun by 385.5% in the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after purchasing an additional 1,465 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of 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 valued at $31,000 after purchasing an additional 1,638 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Sunrun by 21.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,612 shares of the energy company’s stock valued at $372,000 after purchasing an additional 3,676 shares during the last quarter. Pinnacle Associates Ltd. purchased a new stake in shares of Sunrun in the 3rd quarter valued at about $255,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Sunrun by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock valued at $905,000 after purchasing an additional 886 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler cut Sunrun from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $11.00 in a research note on Friday, November 22nd. BMO Capital Markets dropped their price objective on Sunrun from $11.00 to $9.00 and set a “market perform” rating for the company in a research note on Monday. UBS Group dropped their price objective on Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays dropped their price objective on Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Finally, Morgan Stanley dropped their price objective on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.51.

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.