Arosa Capital Management LP Sells 163,000 Shares of Sunrun Inc. (NASDAQ:RUN)

Arosa Capital Management LP cut its stake in shares of Sunrun Inc. (NASDAQ:RUN) by 39.1% during the 3rd quarter, Holdings Channel reports. The fund owned 253,800 shares of the energy company’s stock after selling 163,000 shares during the period. Sunrun comprises approximately 1.8% of Arosa Capital Management LP’s investment portfolio, making the stock its 14th largest position. Arosa Capital Management LP’s holdings in Sunrun were worth $4,584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RUN. Victory Capital Management Inc. lifted its stake in shares of Sunrun by 1.5% in the second quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock valued at $538,000 after buying an additional 691 shares in the last quarter. Creative Planning grew its holdings in shares of Sunrun by 0.3% in the third quarter. Creative Planning now owns 290,259 shares of the energy company’s stock valued at $5,242,000 after acquiring an additional 784 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Sunrun by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock valued at $905,000 after purchasing an additional 886 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in Sunrun by 6.0% in the second quarter. Crossmark Global Holdings Inc. now owns 15,690 shares of the energy company’s stock valued at $186,000 after acquiring an additional 895 shares during the last quarter. Finally, &PARTNERS lifted its position in shares of Sunrun by 1.6% during the second quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock worth $698,000 after acquiring an additional 1,019 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

Sunrun Trading Down 0.2 %

RUN opened at $11.53 on Monday. Sunrun Inc. has a one year low of $9.23 and a one year high of $22.26. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The business has a 50 day simple moving average of $14.07 and a two-hundred day simple moving average of $15.38. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -6.34 and a beta of 2.61.

Analysts Set New Price Targets

RUN has been the topic of a number of analyst reports. Oppenheimer decreased their price objective on Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Roth Mkm dropped their target price on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Guggenheim lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price objective on shares of Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Piper Sandler downgraded Sunrun from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $11.00 in a research report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.28.

Insider Buying and Selling

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the completion of the transaction, the director now directly owns 1,192,446 shares in the company, valued at $24,087,409.20. This trade represents a 4.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Danny Abajian sold 9,694 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total transaction of $191,456.50. Following the completion of the transaction, the chief financial officer now owns 278,260 shares in the company, valued at approximately $5,495,635. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 196,795 shares of company stock valued at $3,071,225 over the last quarter. 3.77% of the stock is owned by company insiders.

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.