Bank of America Corp DE Takes Position in Sunrun Inc. $RUN

Key Points

• Bank of America acquired 2.24 million Sunrun shares worth approximately $30 million, giving it a 0.93% stake. Institutional investors and hedge funds collectively own 91.69% of the company.
• Sunrun and Tesla reported a record 580-megawatt residential battery dispatch to California’s grid during a September heat wave, highlighting potential grid-services revenue opportunities for Sunrun’s battery platform.
• Despite stronger-than-expected quarterly earnings and revenue, Sunrun faces profitability, leverage and stock-performance concerns. Goldman Sachs maintained a “buy” rating but lowered its price target to $13, while the shares recently traded at $8.79.

Bank of America Corp DE acquired a new stake in Sunrun Inc. (NASDAQ:RUN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,238,677 shares of the energy company's stock, valued at approximately $29,953,000. Bank of America Corp DE owned 0.93% of Sunrun at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Sunrun by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company's stock worth $88,375,000 after purchasing an additional 165,196 shares during the period. Geode Capital Management LLC boosted its stake in shares of Sunrun by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company's stock valued at $104,220,000 after purchasing an additional 205,627 shares during the period. Contour Asset Management LLC purchased a new position in shares of Sunrun in the fourth quarter valued at approximately $98,010,000. Erste Asset Management GmbH grew its holdings in shares of Sunrun by 10.7% in the fourth quarter. Erste Asset Management GmbH now owns 3,412,900 shares of the energy company's stock valued at $67,582,000 after purchasing an additional 330,666 shares in the last quarter. Finally, Norges Bank purchased a new stake in Sunrun during the 4th quarter worth approximately $62,169,000. Institutional investors and hedge funds own 91.69% of the company's stock.

Sunrun News Roundup

Here are the key news stories impacting Sunrun this week:

• Positive Sentiment: Record grid-support event highlights battery platform. Sunrun and Tesla reported that their home battery fleets supplied more than 580 megawatts of peak power to California’s grid during the September 9 heat wave—the largest residential distributed-power dispatch reported to date. The event demonstrates that Sunrun’s installed battery base can provide valuable grid services and potentially create additional revenue opportunities. Sunrun and Tesla Dispatch 580 Megawatts To California’s Grid During Heat Wave
• Positive Sentiment: News initially lifted Sunrun shares. Market coverage said Sunrun and Tesla’s record battery dispatch put both stocks in focus, as investors viewed the performance as evidence that distributed energy resources can help stabilize the California grid during periods of extreme demand. Sunrun, Tesla Set Record With 580 MW California Grid Dispatch
• Neutral Sentiment: Goldman Sachs remains constructive but lowered its target. Goldman reduced its Sunrun price target from $15 to $13 while maintaining a “buy” rating. The new target still implied roughly 48% upside from the cited $8.79 reference price, but the cut signals more cautious expectations. Sunrun Given New $13.00 Price Target at Goldman Sachs
• Negative Sentiment: Profitability concerns remain. Coverage noted that Sunrun and Tesla’s battery milestone occurred against a backdrop of expected 2026 losses, which may have encouraged profit-taking after the initial rally. Sunrun’s high leverage and shares trading below their 50-day and 200-day moving averages also remain risks for investors.

Insider Buying and Selling at Sunrun

In related news, CEO Mary Powell sold 23,985 shares of the company's stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $316,362.15. Following the completion of the transaction, the chief executive officer directly owned 1,111,535 shares of the company's stock, valued at $14,661,146.65. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Maria Barak sold 3,278 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $12.17, for a total transaction of $39,893.26. Following the completion of the transaction, the chief accounting officer owned 90,033 shares in the company, valued at $1,095,701.61. This represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 171,015 shares of company stock worth $2,111,653. 3.55% of the stock is currently owned by corporate insiders.

Sunrun Price Performance

Shares of NASDAQ:RUN opened at $8.79 on Wednesday. Sunrun Inc. has a fifty-two week low of $8.19 and a fifty-two week high of $22.44. The firm's 50 day moving average price is $9.62 and its 200 day moving average price is $11.94. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 5.94 and a beta of 2.37.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.19. The company had revenue of $869.99 million for the quarter, compared to the consensus estimate of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The company's quarterly revenue was up 52.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS. As a group, equities research analysts predict that Sunrun Inc. will post 1.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Sunrun from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, September 8th. Roth Capital restated a "buy" rating on shares of Sunrun in a research note on Thursday, July 9th. Royal Bank Of Canada cut their price objective on Sunrun from $18.00 to $14.00 and set an "outperform" rating on the stock in a research report on Thursday, August 6th. UBS Group reduced their price objective on Sunrun from $23.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, June 16th. Finally, Glj Research reiterated a "sell" rating and issued a $4.63 target price on shares of Sunrun in a report on Monday, August 17th. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $16.70.

Sunrun Profile

Sunrun Inc is a provider of residential solar energy and battery-storage solutions. The company designs, sells, installs, owns and maintains solar energy systems for homeowners, helping customers generate electricity on-site and reduce reliance on conventional utility power.

Sunrun offers solar systems through customer purchase arrangements as well as subscription-based plans, including leases and power purchase agreements. Under these arrangements, Sunrun may retain ownership of the system and provide ongoing monitoring, maintenance and customer support.

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