AlphaQuest LLC Raises Position in Sunrun Inc. $RUN

Key Points

• AlphaQuest LLC significantly increased its stake in Sunrun Inc. by 401.6%, acquiring 48,239 additional shares, bringing its total holdings to 60,252 shares valued at $353,000.
• Institutional investors now own 91.69% of Sunrun's stock, with several funds, such as Alyeska Investment Group, growing their stakes dramatically in the last quarter.
• Research analysts have raised price targets for Sunrun shares, with Mizuho increasing the target from $13.00 to $21.00 and giving an "outperform" rating, reflecting a generally positive outlook for the stock.

AlphaQuest LLC lifted its position in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 401.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,252 shares of the energy company's stock after buying an additional 48,239 shares during the quarter. AlphaQuest LLC's holdings in Sunrun were worth $353,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RUN. Apollon Wealth Management LLC purchased a new stake in Sunrun in the 1st quarter worth $60,000. US Bancorp DE lifted its stake in Sunrun by 107.6% in the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock worth $60,000 after purchasing an additional 5,342 shares in the last quarter. Alterna Wealth Management Inc. lifted its stake in Sunrun by 16.6% in the 1st quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company's stock worth $71,000 after purchasing an additional 1,720 shares in the last quarter. GAMMA Investing LLC lifted its stake in Sunrun by 14.7% in the 1st quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company's stock worth $72,000 after purchasing an additional 1,571 shares in the last quarter. Finally, Callan Family Office LLC purchased a new stake in Sunrun in the 1st quarter worth $72,000. Hedge funds and other institutional investors own 91.69% of the company's stock.

Insider Transactions at Sunrun

In other news, CRO Paul S. Dickson sold 8,010 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $10.81, for a total value of $86,588.10. Following the completion of the sale, the executive owned 679,044 shares of the company's stock, valued at approximately $7,340,465.64. This represents a 1.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Danny Abajian sold 8,909 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $10.80, for a total transaction of $96,217.20. Following the completion of the sale, the chief financial officer directly owned 446,797 shares of the company's stock, valued at $4,825,407.60. The trade was a 1.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,360 shares of company stock worth $954,649. Insiders own 3.37% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Cowen restated a "buy" rating on shares of Sunrun in a research report on Thursday, August 7th. BNP Paribas Exane upgraded shares of Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 target price on the stock in a research report on Monday, July 7th. BMO Capital Markets upped their target price on shares of Sunrun from $8.00 to $10.00 and gave the company an "underperform" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Sunrun from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, TD Cowen upped their target price on shares of Sunrun from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Sunrun presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.63.

Sunrun Trading Down 2.4%

RUN stock traded down $0.40 during mid-day trading on Friday, reaching $15.97. The company had a trading volume of 6,808,394 shares, compared to its average volume of 19,384,092. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02. The company has a market capitalization of $3.68 billion, a PE ratio of -1.38 and a beta of 2.37. The firm has a 50 day moving average of $11.23 and a 200 day moving average of $8.86. Sunrun Inc. has a 12 month low of $5.38 and a 12 month high of $21.77.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The energy company reported $1.07 EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $1.25. The business had revenue of $569.34 million for the quarter, compared to the consensus estimate of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. On average, equities analysts predict that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Sunrun Company 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.