Daiwa Securities Group Inc. Invests $1.28 Million in Sunrun Inc. (NASDAQ:RUN)

Daiwa Securities Group Inc. acquired a new position in Sunrun Inc. (NASDAQ:RUN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 65,000 shares of the energy company’s stock, valued at approximately $1,276,000.

A number of other hedge funds have also recently made changes to their positions in the business. C M Bidwell & Associates Ltd. raised its holdings in Sunrun by 1,483.9% during the 3rd quarter. C M Bidwell & Associates Ltd. now owns 2,360 shares of the energy company’s stock valued at $30,000 after buying an additional 2,211 shares during the last quarter. Fifth Third Bancorp raised its holdings in Sunrun by 76.9% during the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after buying an additional 764 shares during the last quarter. Versant Capital Management Inc raised its holdings in Sunrun by 149.7% during the 4th quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock valued at $37,000 after buying an additional 1,127 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in Sunrun by 69.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 3,345 shares of the energy company’s stock valued at $42,000 after buying an additional 1,375 shares during the last quarter. Finally, NBC Securities Inc. purchased a new position in Sunrun during the 3rd quarter valued at $53,000. 91.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 4,830 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $12.12, for a total transaction of $58,539.60. Following the transaction, the director now owns 1,403,915 shares in the company, valued at approximately $17,015,449.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Sunrun news, CFO Danny Abajian sold 5,534 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $12.12, for a total transaction of $67,072.08. Following the transaction, the chief financial officer now owns 210,985 shares in the company, valued at approximately $2,557,138.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lynn Michelle Jurich sold 4,830 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $12.12, for a total transaction of $58,539.60. Following the completion of the transaction, the director now owns 1,403,915 shares in the company, valued at approximately $17,015,449.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 301,760 shares of company stock worth $3,615,990. Company insiders own 3.76% of the company’s stock.

Sunrun Stock Up 2.2 %

Shares of RUN stock opened at $10.27 on Wednesday. Sunrun Inc. has a one year low of $8.43 and a one year high of $23.85. The company’s 50-day moving average is $12.12 and its 200 day moving average is $13.20. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.26 and a quick ratio of 0.96.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($0.13) by ($1.20). Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. The firm had revenue of $516.59 million for the quarter, compared to analysts’ expectations of $499.74 million. Sell-side analysts forecast that Sunrun Inc. will post -1.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RUN shares. Royal Bank of Canada reduced their price objective on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. Mizuho reduced their price objective on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Piper Sandler reduced their price objective on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. Susquehanna reissued a “positive” rating and set a $25.00 price objective on shares of Sunrun in a research report on Friday, April 5th. Finally, Janney Montgomery Scott downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.26.

Sunrun 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.