SCP Investment LP Makes New $230,000 Investment in Sunrun Inc. (NASDAQ:RUN)

SCP Investment LP acquired a new position in Sunrun Inc. (NASDAQ:RUN) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,800 shares of the energy company’s stock, valued at approximately $230,000. Sunrun makes up approximately 0.1% of SCP Investment LP’s investment portfolio, making the stock its 18th biggest position.

A number of other institutional investors have also modified their holdings of the business. Hexavest Inc. bought a new position in Sunrun in the 1st quarter valued at about $27,000. Horan Securities Inc. bought a new position in Sunrun in the 4th quarter valued at about $31,000. Wealthcare Advisory Partners LLC bought a new position in Sunrun in the 1st quarter valued at about $32,000. Captrust Financial Advisors increased its holdings in Sunrun by 139.4% in the 4th quarter. Captrust Financial Advisors now owns 522 shares of the energy company’s stock valued at $36,000 after buying an additional 304 shares during the period. Finally, Oxler Private Wealth LLC bought a new position in Sunrun in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

In other news, COO Christopher Dawson sold 9,240 shares of the company’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $62.62, for a total value of $578,608.80. Following the completion of the sale, the chief operating officer now owns 223,028 shares in the company, valued at approximately $13,966,013.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Jeanna Steele sold 1,589 shares of the company’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $62.64, for a total transaction of $99,534.96. Following the completion of the sale, the general counsel now owns 120,678 shares of the company’s stock, valued at approximately $7,559,269.92. The disclosure for this sale can be found here. Insiders have sold a total of 306,980 shares of company stock valued at $16,329,333 in the last 90 days. 8.55% of the stock is currently owned by company insiders.

Shares of NASDAQ RUN traded up $0.63 during midday trading on Friday, reaching $45.67. The stock had a trading volume of 64,713 shares, compared to its average volume of 6,100,362. The company has a market cap of $9.31 billion, a price-to-earnings ratio of -54.66 and a beta of 2.05. Sunrun Inc. has a twelve month low of $16.50 and a twelve month high of $100.93. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.23 and a current ratio of 1.59. The firm has a 50 day simple moving average of $47.28.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, May 5th. The energy company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.08). Sunrun had a negative return on equity of 0.21% and a negative net margin of 16.17%. On average, equities research analysts expect that Sunrun Inc. will post -0.16 earnings per share for the current year.

Several equities analysts have commented on RUN shares. Credit Suisse Group raised their target price on shares of Sunrun from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, May 6th. Barclays decreased their price target on shares of Sunrun from $108.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, April 22nd. Guggenheim assumed coverage on shares of Sunrun in a report on Wednesday, June 2nd. They set a “buy” rating on the stock. UBS Group raised shares of Sunrun from a “sell” rating to a “neutral” rating and set a $55.00 price target on the stock in a report on Tuesday, March 9th. Finally, Royal Bank of Canada assumed coverage on shares of Sunrun in a report on Tuesday, April 6th. They set an “outperform” rating and a $81.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $79.23.

Sunrun Profile

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.

Further Reading: Market Capitalization

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Institutional Ownership by Quarter for Sunrun (NASDAQ:RUN)

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