Harvest Portfolios Group Inc. Sells 7,565 Shares of Sunrun Inc. (NASDAQ:RUN)

Harvest Portfolios Group Inc. lowered its holdings in Sunrun Inc. (NASDAQ:RUN) by 25.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,644 shares of the energy company’s stock after selling 7,565 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Sunrun were worth $409,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RUN. Mirae Asset Global Investments Co. Ltd. grew its stake in Sunrun by 142.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,702 shares of the energy company’s stock worth $3,199,000 after buying an additional 142,563 shares during the last quarter. Symmetry Investments LP bought a new stake in Sunrun during the second quarter worth about $1,205,000. Axxcess Wealth Management LLC bought a new stake in Sunrun during the first quarter worth about $171,000. Assenagon Asset Management S.A. grew its stake in Sunrun by 207.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock worth $24,843,000 after buying an additional 927,947 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in Sunrun during the second quarter worth about $702,000. Institutional investors own 91.69% of the company’s stock.

Sunrun Trading Down 2.5 %

RUN opened at $11.60 on Friday. The firm’s fifty day moving average is $16.80 and its two-hundred day moving average is $15.39. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66. The firm has a market cap of $2.59 billion, a PE ratio of -1.82 and a beta of 2.61. Sunrun Inc. has a twelve month low of $8.82 and a twelve month high of $22.26.

Sunrun (NASDAQ:RUN) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.88. The company had revenue of $523.87 million for the quarter, compared to analyst estimates of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The business’s revenue for the quarter was down 11.2% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. Equities research analysts anticipate that Sunrun Inc. will post -0.17 EPS for the current year.

Insiders Place Their Bets

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $14.60, for a total value of $730,000.00. Following the sale, the director now directly owns 1,142,446 shares in the company, valued at approximately $16,679,711.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $14.60, for a total transaction of $730,000.00. Following the completion of the sale, the director now owns 1,142,446 shares of the company’s stock, valued at $16,679,711.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mary Powell sold 2,148 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.79, for a total transaction of $40,360.92. Following the sale, the chief executive officer now directly owns 579,193 shares of the company’s stock, valued at $10,883,036.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,840 shares of company stock worth $2,755,487. Company insiders own 3.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on RUN shares. StockNews.com raised shares of Sunrun to a “sell” rating in a research note on Friday, September 27th. Barclays decreased their price target on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. Morgan Stanley reissued an “overweight” rating and set a $35.00 price target on shares of Sunrun in a research note on Tuesday, September 24th. JPMorgan Chase & Co. increased their price target on shares of Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets increased their price target on shares of Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.77.

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.