Freestone Grove Partners LP Takes Position in Sunrun Inc. $RUN

Freestone Grove Partners LP purchased a new position in shares of Sunrun Inc. (NASDAQ:RUN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 282,746 shares of the energy company’s stock, valued at approximately $3,783,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allworth Financial LP purchased a new stake in Sunrun in the 2nd quarter valued at about $25,000. Farther Finance Advisors LLC boosted its stake in Sunrun by 156.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock worth $27,000 after buying an additional 885 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sunrun during the fourth quarter valued at about $27,000. Hantz Financial Services Inc. raised its stake in shares of Sunrun by 59.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock valued at $28,000 after acquiring an additional 564 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Sunrun in the 4th quarter valued at approximately $30,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Trading Down 3.1%

Shares of RUN stock opened at $8.78 on Friday. Sunrun Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $22.44. The company has a 50 day moving average price of $11.08 and a 200 day moving average price of $13.10. The stock has a market capitalization of $2.11 billion, a P/E ratio of 5.93 and a beta of 2.35. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The company had revenue of $869.99 million for the quarter, compared to analyst estimates of $746.87 million. During the same period in the prior year, the business earned $1.07 EPS. The firm’s quarterly revenue was up 52.8% on a year-over-year basis. Equities research analysts predict that Sunrun Inc. will post 1.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RUN shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $17.00 price objective on shares of Sunrun in a research report on Friday, May 8th. Citigroup cut their target price on Sunrun from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. UBS Group decreased their price target on Sunrun from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. TD Cowen lowered their price target on Sunrun from $21.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Mizuho set a $18.00 price objective on Sunrun in a report on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.81.

Insider Buying and Selling at Sunrun

In related news, CFO Danny Abajian sold 16,495 shares of Sunrun stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $217,569.05. Following the completion of the transaction, the chief financial officer directly owned 420,318 shares in the company, valued at approximately $5,543,994.42. This trade represents a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $9.96, for a total value of $498,000.00. Following the transaction, the director directly owned 367,405 shares of the company’s stock, valued at $3,659,353.80. The trade was a 11.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 223,045 shares of company stock valued at $2,934,835. Insiders own 3.55% of the company’s stock.

Sunrun Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.