Insider Buying: Sunrun Inc. (NASDAQ:RUN) Director Purchases 150,000 Shares of Stock

Sunrun Inc. (NASDAQ:RUN) Director Edward Harris Fenster purchased 150,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the acquisition, the director now directly owns 1,358,182 shares in the company, valued at $9,235,637.60. The trade was a 12.42 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Sunrun Stock Performance

Shares of RUN opened at $6.71 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm’s fifty day simple moving average is $9.20 and its two-hundred day simple moving average is $12.94. Sunrun Inc. has a 12 month low of $5.93 and a 12 month high of $22.26. The stock has a market capitalization of $1.51 billion, a P/E ratio of -3.69 and a beta of 2.59.

Institutional Investors Weigh In On Sunrun

Several institutional investors and hedge funds have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new position in Sunrun in the fourth quarter valued at approximately $29,000. International Assets Investment Management LLC increased its stake in shares of Sunrun by 1,706.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,638 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Sunrun by 133.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after acquiring an additional 2,000 shares during the period. Blue Trust Inc. lifted its position in shares of Sunrun by 385.5% during the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after acquiring an additional 1,465 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Sunrun in the third quarter worth $44,000. Institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on RUN. Barclays cut their target price on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley cut their price objective on Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Roth Mkm lowered their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 8th. Jefferies Financial Group cut their price target on Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Guggenheim downgraded Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.51.

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.