Hsbc Holdings PLC Sells 26,164 Shares of Sunrun Inc. $RUN

Key Points

• Hsbc Holdings PLC reduced its stake in Sunrun Inc. by 38.2% during the first quarter, leaving it with 42,390 shares valued at approximately $245,000.
• Several other institutional investors have increased their holdings or acquired new stakes in Sunrun, indicating strong interest as 91.69% of the stock is held by these investors.
• Sunrun reported a quarterly earnings per share (EPS) of $1.07, significantly exceeding analysts' estimates, alongside a revenue of $569.34 million for the quarter.

Hsbc Holdings PLC lessened its stake in shares of Sunrun Inc. (NASDAQ:RUN - Free Report) by 38.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,390 shares of the energy company's stock after selling 26,164 shares during the quarter. Hsbc Holdings PLC's holdings in Sunrun were worth $245,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Apollon Wealth Management LLC bought a new stake in shares of Sunrun during the 1st quarter worth about $60,000. US Bancorp DE boosted its stake in shares of Sunrun by 107.6% during the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock worth $60,000 after acquiring an additional 5,342 shares in the last quarter. Alterna Wealth Management Inc. boosted its stake in shares of Sunrun by 16.6% during the 1st 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of Sunrun by 14.7% during the 1st 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 in the last quarter. Finally, Callan Family Office LLC bought a new stake in shares of Sunrun during the 1st quarter worth about $72,000. Institutional investors own 91.69% of the company's stock.

Sunrun Stock Performance

Shares of RUN stock traded up $1.75 during mid-day trading on Friday, reaching $18.18. The stock had a trading volume of 17,570,626 shares, compared to its average volume of 16,655,941. The firm's 50 day simple moving average is $12.18 and its 200 day simple moving average is $9.13. The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70. Sunrun Inc. has a one year low of $5.38 and a one year high of $21.77. The firm has a market cap of $4.19 billion, a PE ratio of -1.57 and a beta of 2.21.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $1.25. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.The company had revenue of $569.34 million during the quarter, compared to the consensus estimate of $555.42 million. During the same quarter last year, the company earned $0.55 EPS. The company's quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts forecast that Sunrun Inc. will post -0.43 EPS for the current year.

Wall Street Analyst Weigh In

RUN has been the subject of several recent analyst reports. UBS Group upped their price target on Sunrun from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Jefferies Financial Group upgraded Sunrun from an "underperform" rating to a "hold" rating and increased their target price for the company from $5.00 to $11.00 in a research note on Wednesday, July 9th. JPMorgan Chase & Co. increased their target price on Sunrun from $16.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Cowen restated a "buy" rating on shares of Sunrun in a research note on Thursday, August 7th. Finally, BMO Capital Markets raised their price objective on shares of Sunrun from $8.00 to $10.00 and gave the stock an "underperform" rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.63.

Insider Buying and Selling

In other Sunrun news, Director Alan Ferber sold 10,927 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $11.24, for a total value of $122,819.48. Following the completion of the sale, the director owned 54,947 shares in the company, valued at approximately $617,604.28. This trade represents a 16.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Paul S. Dickson sold 8,010 shares of the firm's stock in a transaction that occurred on 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 owned 679,044 shares of the company's stock, valued at $7,340,465.64. This represents a 1.17% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,314 shares of company stock worth $910,283. 3.37% of the stock is currently owned by corporate insiders.

About Sunrun

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.