Alterna Wealth Management Inc. Acquires Shares of 10,355 Sunrun Inc. (NASDAQ:RUN)

Alterna Wealth Management Inc. bought a new stake in Sunrun Inc. (NASDAQ:RUN) during the 4th quarter, HoldingsChannel reports. The firm bought 10,355 shares of the energy company’s stock, valued at approximately $96,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Sei Investments Co. increased its stake in Sunrun by 29.2% during the 2nd quarter. Sei Investments Co. now owns 64,224 shares of the energy company’s stock worth $762,000 after buying an additional 14,517 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Sunrun in the second quarter worth approximately $436,000. The Manufacturers Life Insurance Company increased its position in shares of Sunrun by 63.6% during the second quarter. The Manufacturers Life Insurance Company now owns 231,110 shares of the energy company’s stock worth $2,741,000 after purchasing an additional 89,805 shares in the last quarter. Algert Global LLC acquired a new position in Sunrun in the 2nd quarter valued at $357,000. Finally, Cetera Investment Advisers lifted its holdings in Sunrun by 5.1% in the 2nd quarter. Cetera Investment Advisers now owns 100,017 shares of the energy company’s stock valued at $1,186,000 after purchasing an additional 4,840 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Insider Transactions at Sunrun

In other Sunrun news, CEO Mary Powell sold 4,350 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $48,633.00. Following the completion of the transaction, the chief executive officer now owns 560,321 shares of the company’s stock, valued at $6,264,388.78. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $9.59, for a total value of $479,500.00. Following the sale, the director now directly owns 991,753 shares in the company, valued at $9,510,911.27. This represents a 4.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,830 shares of company stock worth $1,614,147 over the last ninety days. Company insiders own 3.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RUN shares. JPMorgan Chase & Co. dropped their target price on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Morgan Stanley dropped their price objective on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Jefferies Financial Group cut their price objective on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Glj Research restated a “sell” rating and set a $7.78 target price on shares of Sunrun in a report on Thursday, November 7th. Finally, Piper Sandler cut Sunrun from an “overweight” rating to a “neutral” rating and cut their price target for the company from $23.00 to $11.00 in a report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.36.

Sunrun Stock Performance

Shares of RUN stock opened at $9.05 on Monday. The company has a 50-day moving average of $10.16 and a two-hundred day moving average of $14.30. Sunrun Inc. has a 1-year low of $8.22 and a 1-year high of $22.26. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Thursday, November 7th. The energy company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.21). The company had revenue of $537.17 million for the quarter, compared to analysts’ expectations of $560.60 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. During the same period in the previous year, the business posted $0.40 EPS. Equities analysts anticipate 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.