Nicola Wealth Management LTD. Increases Holdings in Sunrun Inc. (NASDAQ:RUN)

Nicola Wealth Management LTD. lifted its position in Sunrun Inc. (NASDAQ:RUN) by 54.9% in the fourth quarter, Holdings Channel reports. The firm owned 158,000 shares of the energy company’s stock after buying an additional 56,000 shares during the period. Nicola Wealth Management LTD.’s holdings in Sunrun were worth $1,462,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in Sunrun by 1,706.3% during the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after buying an additional 1,638 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after buying an additional 2,000 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Sunrun during the third quarter worth $44,000. Union Bancaire Privee UBP SA purchased a new stake in Sunrun during the fourth quarter worth $56,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Sunrun during the fourth quarter worth $94,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Price Performance

Shares of RUN opened at $6.17 on Tuesday. The company has a market capitalization of $1.38 billion, a P/E ratio of -3.39 and a beta of 2.59. The business’s 50-day moving average is $9.20 and its two-hundred day moving average is $12.94. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. Sunrun Inc. has a fifty-two week low of $6.00 and a fifty-two week high of $22.26.

Insider Buying and Selling

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.10, for a total value of $455,000.00. Following the completion of the transaction, the director now owns 941,753 shares in the company, valued at approximately $8,569,952.30. This represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward Harris Fenster bought 150,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the purchase, the director now owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. This represents a 12.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 163,064 shares of company stock valued at $1,551,556 over the last ninety days. Company insiders own 3.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RUN shares. Oppenheimer lowered their target price on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Royal Bank of Canada lowered their target price on Sunrun from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Monday. Glj Research reaffirmed a “sell” rating and set a $7.78 price target on shares of Sunrun in a research report on Thursday, November 7th. Roth Mkm reduced their price target on Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, Piper Sandler downgraded Sunrun from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $23.00 to $11.00 in a research report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.61.

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.