Syon Capital LLC Takes $110,000 Position in Sunrun Inc. (NASDAQ:RUN)

Syon Capital LLC purchased a new position in shares of Sunrun Inc. (NASDAQ:RUN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,867 shares of the energy company’s stock, valued at approximately $110,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Sunrun during the 4th quarter worth approximately $31,022,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Sunrun during the fourth quarter worth approximately $18,500,000. Dimensional Fund Advisors LP lifted its holdings in shares of Sunrun by 27.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,621,303 shares of the energy company’s stock worth $61,252,000 after purchasing an additional 1,427,858 shares during the period. Invesco Ltd. grew its position in Sunrun by 20.8% in the 4th quarter. Invesco Ltd. now owns 6,008,879 shares of the energy company’s stock valued at $55,582,000 after buying an additional 1,035,096 shares during the last quarter. Finally, EVR Research LP acquired a new position in Sunrun in the 4th quarter valued at $7,400,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Trading Up 4.8 %

Shares of Sunrun stock opened at $7.39 on Friday. The business has a 50 day moving average price of $6.83 and a 200 day moving average price of $9.51. The company has a market capitalization of $1.67 billion, a P/E ratio of -4.06 and a beta of 2.74. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. Sunrun Inc. has a 1 year low of $5.45 and a 1 year high of $22.26.

Insider Transactions at Sunrun

In other Sunrun news, Director Edward Harris Fenster purchased 150,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the acquisition, the director now owns 1,358,182 shares of the company’s stock, valued at approximately $9,235,637.60. The trade was a 12.42 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Paul S. Dickson sold 19,343 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $130,371.82. Following the sale, the executive now owns 399,729 shares in the company, valued at $2,694,173.46. This trade represents a 4.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 138,540 shares of company stock valued at $1,050,944 over the last three months. 3.77% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RUN has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Susquehanna reduced their price objective on shares of Sunrun from $13.00 to $10.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Citigroup reiterated a “neutral” rating and set a $7.00 target price on shares of Sunrun in a research report on Thursday, April 17th. The Goldman Sachs Group reduced their price target on Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Truist Financial reaffirmed a “hold” rating and set a $6.00 price objective (down previously from $9.00) on shares of Sunrun in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.92.

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.