B. Riley Wealth Advisors Inc. Buys 1,500 Shares of Sunrun Inc. (NASDAQ:RUN)

B. Riley Wealth Advisors Inc. lifted its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 1.4% in the 1st quarter, Holdings Channel reports. The fund owned 106,628 shares of the energy company’s stock after acquiring an additional 1,500 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Sunrun were worth $1,339,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Fifth Third Bancorp grew its stake in shares of Sunrun by 76.9% during the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock worth $35,000 after acquiring an additional 764 shares in the last quarter. BNP Paribas acquired a new position in Sunrun during the first quarter worth $37,000. USCF Advisers LLC increased its holdings in Sunrun by 130.0% during the fourth quarter. USCF Advisers LLC now owns 2,300 shares of the energy company’s stock worth $45,000 after buying an additional 1,300 shares during the last quarter. Headlands Technologies LLC bought a new stake in Sunrun during the first quarter worth $53,000. Finally, Manchester Capital Management LLC grew its position in shares of Sunrun by 41.9% in the 4th quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock valued at $62,000 after acquiring an additional 938 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RUN. Morgan Stanley upped their target price on shares of Sunrun from $24.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Jefferies Financial Group dropped their price objective on Sunrun from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Mizuho reduced their target price on Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Susquehanna increased their price target on Sunrun from $23.00 to $24.00 and gave the company a “positive” rating in a research note on Monday, July 15th. Finally, Piper Sandler upped their price objective on shares of Sunrun from $15.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.42.

Sunrun Stock Up 6.6 %

Shares of Sunrun stock opened at $18.69 on Thursday. The firm’s 50-day moving average price is $14.25 and its two-hundred day moving average price is $13.13. The company has a current ratio of 1.31, a quick ratio of 0.99 and a debt-to-equity ratio of 1.84. Sunrun Inc. has a 12-month low of $8.43 and a 12-month high of $22.16.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The business had revenue of $458.20 million for the quarter, compared to analysts’ expectations of $471.38 million. During the same period last year, the firm posted ($1.12) earnings per share. The firm’s quarterly revenue was down 22.3% compared to the same quarter last year. As a group, sell-side analysts predict that Sunrun Inc. will post -1.25 earnings per share for the current year.

Insider Activity

In related news, CFO Danny Abajian sold 2,092 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $14.43, for a total value of $30,187.56. Following the transaction, the chief financial officer now owns 288,448 shares in the company, valued at $4,162,304.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Mary Powell sold 1,741 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $14.86, for a total transaction of $25,871.26. Following the transaction, the chief executive officer now directly owns 589,927 shares of the company’s stock, valued at $8,766,315.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Danny Abajian sold 2,092 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $14.43, for a total transaction of $30,187.56. Following the transaction, the chief financial officer now owns 288,448 shares in the company, valued at approximately $4,162,304.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 255,712 shares of company stock valued at $3,706,261. Company insiders own 3.76% of the company’s stock.

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.