Sora Investors LLC Makes New $8.13 Million Investment in Sunrun Inc. (NASDAQ:RUN)

Sora Investors LLC acquired a new stake in Sunrun Inc. (NASDAQ:RUN) in the 3rd quarter, HoldingsChannel reports. The fund acquired 450,000 shares of the energy company’s stock, valued at approximately $8,127,000.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its position in shares of Sunrun by 0.6% in the third quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock worth $165,424,000 after acquiring an additional 54,329 shares during the period. Maple Rock Capital Partners Inc. boosted its position in Sunrun by 0.6% during the third quarter. Maple Rock Capital Partners Inc. now owns 1,865,600 shares of the energy company’s stock worth $33,693,000 after purchasing an additional 10,600 shares in the last quarter. Centiva Capital LP grew its holdings in Sunrun by 212.1% in the third quarter. Centiva Capital LP now owns 56,025 shares of the energy company’s stock valued at $1,012,000 after purchasing an additional 106,025 shares during the period. Point72 Hong Kong Ltd acquired a new position in Sunrun during the third quarter worth $391,000. Finally, Erste Asset Management GmbH purchased a new position in Sunrun during the third quarter valued at $76,152,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Price Performance

Shares of RUN opened at $10.36 on Friday. 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 Inc. has a fifty-two week low of $9.23 and a fifty-two week high of $22.26. The company has a market cap of $2.32 billion, a P/E ratio of -5.69 and a beta of 2.54. The firm’s 50 day moving average price is $13.46 and its 200 day moving average price is $15.33.

Insider Transactions at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00. Following the sale, the director now owns 1,192,446 shares of the company’s stock, 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 this hyperlink. Also, CEO Mary Powell sold 6,415 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $16.34, for a total transaction of $104,821.10. Following the transaction, the chief executive officer now owns 569,368 shares of the company’s stock, valued at $9,303,473.12. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 174,337 shares of company stock valued at $2,634,276. 3.77% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RUN has been the topic of several research analyst reports. Truist Financial reiterated a “hold” rating and issued a $12.00 price objective (down from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. The Goldman Sachs Group reiterated a “buy” rating and issued a $20.00 target price on shares of Sunrun in a research report on Wednesday, September 25th. BMO Capital Markets lowered their price target on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating on the stock in a research report on Monday, November 11th. Roth Mkm lowered their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.28.

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.