SCP Investment LP Purchases 3,500 Shares of Sunrun Inc. (NASDAQ:RUN)

SCP Investment LP grew its position in shares of Sunrun Inc. (NASDAQ:RUN) by 92.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,300 shares of the energy company’s stock after buying an additional 3,500 shares during the quarter. Sunrun accounts for approximately 0.1% of SCP Investment LP’s investment portfolio, making the stock its 13th biggest holding. SCP Investment LP’s holdings in Sunrun were worth $407,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RUN. Resources Management Corp CT ADV purchased a new stake in shares of Sunrun during the 2nd quarter worth approximately $32,000. Concord Wealth Partners increased its stake in shares of Sunrun by 1,354.8% during the 1st quarter. Concord Wealth Partners now owns 611 shares of the energy company’s stock worth $37,000 after purchasing an additional 569 shares during the last quarter. TFC Financial Management purchased a new position in Sunrun in the 2nd quarter valued at approximately $42,000. Cullen Frost Bankers Inc. purchased a new position in Sunrun in the 1st quarter valued at approximately $48,000. Finally, Clearstead Advisors LLC grew its stake in Sunrun by 761.0% in the 1st quarter. Clearstead Advisors LLC now owns 861 shares of the energy company’s stock valued at $52,000 after buying an additional 761 shares in the last quarter. Institutional investors own 92.97% of the company’s stock.

Sunrun stock traded up $0.72 during midday trading on Friday, reaching $44.48. 62,971 shares of the company traded hands, compared to its average volume of 6,228,842. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of -47.56 and a beta of 2.09. The business has a 50 day moving average of $47.74 and a two-hundred day moving average of $49.82. Sunrun Inc. has a 12 month low of $37.42 and a 12 month high of $100.93. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.25 and a quick ratio of 0.94.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Thursday, August 5th. The energy company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.18). The company had revenue of $401.17 million for the quarter, compared to the consensus estimate of $374.36 million. Sunrun had a negative net margin of 15.55% and a negative return on equity of 0.44%. As a group, equities analysts forecast that Sunrun Inc. will post -0.17 EPS for the current year.

A number of research analysts recently weighed in on RUN shares. Guggenheim started coverage on shares of Sunrun in a research note on Wednesday, June 2nd. They issued a “buy” rating for the company. JPMorgan Chase & Co. lifted their price objective on shares of Sunrun from $81.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, July 21st. Zacks Investment Research raised shares of Sunrun from a “sell” rating to a “hold” rating in a report on Thursday, August 19th. Morgan Stanley boosted their price target on shares of Sunrun from $86.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 16th. Finally, Truist Securities lowered their price target on shares of Sunrun from $81.00 to $74.00 and set a “buy” rating for the company in a research note on Monday, August 9th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $79.29.

In other Sunrun news, insider Edward Harris Fenster sold 81,142 shares of the stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $46.94, for a total value of $3,808,805.48. Following the transaction, the insider now directly owns 1,669,371 shares in the company, valued at $78,360,274.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michelle Philpot sold 18,632 shares of the stock in a transaction that occurred on Tuesday, July 20th. The stock was sold at an average price of $47.33, for a total transaction of $881,852.56. Following the completion of the transaction, the chief accounting officer now owns 44,172 shares in the company, valued at $2,090,660.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,718 shares of company stock worth $7,143,661. 4.40% of the stock is owned by insiders.

Sunrun Profile

SunRun, Inc engages in the design, development, installation, sale, ownership and maintenance of residential solar energy systems. It sells solar service offerings and install solar energy systems for homeowners through its direct-to-consumer channel. The firm also offers plans such as monthly lease, full amount lease, purchase system, and monthly loan.

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Institutional Ownership by Quarter for Sunrun (NASDAQ:RUN)

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