Renaissance Technologies LLC Increases Stock Holdings in Sunrun Inc. $RUN

Renaissance Technologies LLC lifted its position in shares of Sunrun Inc. (NASDAQ:RUN) by 12.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,065,245 shares of the energy company’s stock after buying an additional 232,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.87% of Sunrun worth $28,005,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in shares of Sunrun by 156.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock valued at $27,000 after purchasing an additional 885 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sunrun during the 4th quarter worth approximately $27,000. Hantz Financial Services Inc. lifted its stake in Sunrun by 59.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock valued at $28,000 after buying an additional 564 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Sunrun in the 4th quarter valued at approximately $30,000. Finally, Salomon & Ludwin LLC grew its holdings in Sunrun by 49.2% during the 4th quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company’s stock valued at $31,000 after buying an additional 558 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Stock Down 3.5%

RUN stock opened at $9.63 on Wednesday. The stock has a market capitalization of $2.30 billion, a P/E ratio of 4.52 and a beta of 2.32. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45. Sunrun Inc. has a one year low of $9.01 and a one year high of $22.44. The company has a 50 day moving average price of $13.06 and a two-hundred day moving average price of $14.56.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The company had revenue of $722.23 million for the quarter, compared to analyst estimates of $688.50 million. During the same quarter in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was up 43.2% compared to the same quarter last year. As a group, sell-side analysts expect that Sunrun Inc. will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other Sunrun news, insider Jeanna Steele sold 9,897 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $130,541.43. Following the sale, the insider directly owned 461,715 shares of the company’s stock, valued at approximately $6,090,020.85. This trade represents a 2.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 16,495 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $217,569.05. Following the completion of the sale, the chief financial officer directly owned 420,318 shares in the company, valued at approximately $5,543,994.42. The trade was a 3.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 223,045 shares of company stock valued at $3,081,335. 3.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Susquehanna dropped their price target on Sunrun from $19.00 to $18.00 and set a “positive” rating for the company in a research report on Friday, July 10th. Roth Capital restated a “buy” rating on shares of Sunrun in a research report on Thursday, July 9th. Barclays decreased their price objective on Sunrun from $23.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Citigroup dropped their price objective on Sunrun from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Finally, Wall Street Zen downgraded shares of Sunrun from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Twelve investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.81.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.