Norden Group LLC Grows Stake in Sunrun Inc. (NASDAQ:RUN)

Norden Group LLC grew its position in shares of Sunrun Inc. (NASDAQ:RUN) by 11.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,186 shares of the energy company’s stock after purchasing an additional 13,552 shares during the period. Norden Group LLC’s holdings in Sunrun were worth $1,580,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RUN. Vanguard Group Inc. grew its position in Sunrun by 0.9% in the fourth 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 in the last quarter. Truist Financial Corp purchased a new position in Sunrun in the fourth quarter worth $307,000. Victory Capital Management Inc. grew its position in Sunrun by 579.1% in the fourth quarter. Victory Capital Management Inc. now owns 258,697 shares of the energy company’s stock worth $5,078,000 after acquiring an additional 220,605 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Sunrun by 142.4% in the first 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Sunrun by 6.9% in the fourth 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 in the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sunrun news, CEO Mary Powell sold 2,148 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total value of $40,360.92. Following the sale, the chief executive officer now owns 579,193 shares in the company, valued at $10,883,036.47. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Mary Powell sold 2,148 shares of the 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 in the company, valued at $10,883,036.47. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeanna Steele sold 2,513 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.61, for a total transaction of $31,688.93. Following the sale, the insider now owns 312,774 shares in the company, valued at approximately $3,944,080.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 229,877 shares of company stock worth $3,573,753. 3.76% of the stock is currently owned by company insiders.

Sunrun Trading Down 5.7 %

Shares of NASDAQ RUN traded down $1.09 during midday trading on Friday, hitting $18.17. 6,113,425 shares of the company traded hands, compared to its average volume of 12,865,801. Sunrun Inc. has a 12-month low of $8.43 and a 12-month high of $22.26. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66. The stock has a 50-day moving average price of $17.38 and a 200 day moving average price of $13.97. The firm has a market cap of $4.06 billion, a P/E ratio of -2.72 and a beta of 2.59.

Sunrun (NASDAQ:RUN) last announced 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. The business had revenue of $523.87 million for the quarter, compared to analysts’ expectations of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The business’s revenue was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. As a group, analysts expect that Sunrun Inc. will post -0.37 earnings per share for the current year.

Analyst Ratings Changes

RUN has been the subject of several recent research reports. Oppenheimer boosted their price target on shares of Sunrun from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Piper Sandler boosted their price target on shares of Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a research note on Thursday, August 8th. The Goldman Sachs Group boosted their price target on shares of Sunrun from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.