Cwm LLC Grows Stake in Sunrun Inc. (NASDAQ:RUN)

Key Points

• Cwm LLC significantly increased its stake in Sunrun Inc. by 1,064.7% during the first quarter, owning 31,890 shares valued at approximately $187,000 as per its SEC filing.
• Sunrun reported earnings of $0.20 per share for the latest quarter, surpassing analyst expectations and showcasing a 10.1% revenue growth year-over-year.
• Multiple investment firms have adjusted Sunrun's stock ratings, with Mizuho raising its price target to $21.00, while BMO Capital Markets issued a strong sell rating with a target of $4.00.

Cwm LLC boosted its position in Sunrun Inc. (NASDAQ:RUN - Free Report) by 1,064.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,890 shares of the energy company's stock after purchasing an additional 29,152 shares during the period. Cwm LLC's holdings in Sunrun were worth $187,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RUN. Aster Capital Management DIFC Ltd purchased a new position in Sunrun during the fourth quarter worth $29,000. Summit Securities Group LLC acquired a new stake in Sunrun during the fourth quarter worth approximately $53,000. Sterling Capital Management LLC boosted its position in Sunrun by 807.5% during the fourth quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company's stock worth $64,000 after acquiring an additional 6,129 shares during the last quarter. Alterna Wealth Management Inc. boosted its position in Sunrun by 16.6% during the first quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company's stock worth $71,000 after acquiring an additional 1,720 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Sunrun by 14.7% during the first quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company's stock worth $72,000 after acquiring an additional 1,571 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Price Performance

Shares of NASDAQ RUN opened at $10.78 on Monday. Sunrun Inc. has a 1-year low of $5.38 and a 1-year high of $22.26. The business has a 50-day moving average of $8.83 and a 200-day moving average of $8.21. The company has a debt-to-equity ratio of 3.89, a current ratio of 1.32 and a quick ratio of 0.99. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of -0.89 and a beta of 2.60.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.42. Sunrun had a positive return on equity of 9.42% and a negative net margin of 129.97%. The company had revenue of $504.27 million during the quarter, compared to the consensus estimate of $487.29 million. During the same quarter in the prior year, the business earned ($0.40) earnings per share. The company's revenue was up 10.1% compared to the same quarter last year. On average, equities analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeanna Steele sold 3,668 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $10.80, for a total value of $39,614.40. Following the completion of the sale, the insider owned 439,620 shares of the company's stock, valued at $4,747,896. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Paul S. Dickson sold 8,010 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $10.81, for a total value of $86,588.10. Following the completion of the sale, the executive directly owned 679,044 shares of the company's stock, valued at $7,340,465.64. The trade was a 1.17% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,939 shares of company stock valued at $430,264. 3.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Mizuho lifted their price objective on Sunrun from $13.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. BMO Capital Markets downgraded Sunrun from a "hold" rating to a "strong sell" rating and lowered their price objective for the company from $9.00 to $4.00 in a research report on Thursday, May 22nd. Citigroup reaffirmed a "neutral" rating and issued a $7.00 price objective on shares of Sunrun in a research report on Thursday, April 17th. Truist Financial reaffirmed a "hold" rating and issued a $6.00 price objective (down previously from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group lifted their price objective on Sunrun from $12.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Sunrun currently has an average rating of "Hold" and a consensus target price of $14.30.

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.

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