Canton Hathaway LLC Purchases New Stake in Sunrun Inc (NASDAQ:RUN)

Canton Hathaway LLC purchased a new stake in Sunrun Inc (NASDAQ:RUN) during the third quarter, HoldingsChannel.com reports. The firm purchased 45,500 shares of the energy company’s stock, valued at approximately $760,000.

Other institutional investors have also bought and sold shares of the company. BSW Wealth Partners purchased a new stake in shares of Sunrun in the second quarter valued at approximately $114,000. Hershey Trust Co. purchased a new stake in shares of Sunrun in the second quarter valued at approximately $126,000. Rehmann Capital Advisory Group boosted its stake in shares of Sunrun by 222.9% in the first quarter. Rehmann Capital Advisory Group now owns 12,235 shares of the energy company’s stock valued at $172,000 after buying an additional 8,446 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of Sunrun in the second quarter valued at approximately $224,000. Finally, Bank of Montreal Can boosted its stake in shares of Sunrun by 301.5% in the second quarter. Bank of Montreal Can now owns 12,977 shares of the energy company’s stock valued at $243,000 after buying an additional 9,745 shares in the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

RUN traded up $0.57 during trading on Friday, reaching $17.51. 1,635,707 shares of the stock were exchanged, compared to its average volume of 1,478,341. The business’s 50 day moving average price is $15.95 and its two-hundred day moving average price is $16.71. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.83 and a quick ratio of 0.69. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 76.13, a P/E/G ratio of 6.62 and a beta of 0.76. Sunrun Inc has a 1 year low of $8.81 and a 1 year high of $21.42.

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, August 7th. The energy company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.18). The firm had revenue of $204.60 million for the quarter, compared to analysts’ expectations of $198.78 million. Sunrun had a negative return on equity of 1.89% and a negative net margin of 2.84%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. On average, analysts anticipate that Sunrun Inc will post 0.5 EPS for the current year.

In other news, major shareholder Tiger Global Management Llc bought 474,277 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were bought at an average cost of $16.49 per share, for a total transaction of $7,820,827.73. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christopher Dawson sold 8,190 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $20.04, for a total value of $164,127.60. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 5,901,706 shares of company stock worth $93,209,033 and have sold 29,612 shares worth $539,767. 9.34% of the stock is currently owned by insiders.

RUN has been the topic of a number of analyst reports. ValuEngine downgraded Sunrun from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Goldman Sachs Group upgraded Sunrun from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, June 17th. KeyCorp initiated coverage on Sunrun in a research note on Monday, August 19th. They issued an “overweight” rating and a $19.00 price target on the stock. Zacks Investment Research upgraded Sunrun from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, BidaskClub upgraded Sunrun from a “hold” rating to a “buy” rating in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $21.36.

About Sunrun

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.

Further Reading: Cash Asset Ratio

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Institutional Ownership by Quarter for Sunrun (NASDAQ:RUN)

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