The Vanguard Group, Inc. recently announced the acquisition of new stake in Sunrun Inc (NASDAQ:RUN). The institutional investor has increased its shareholding in the Technology company by 0.63% to 19.1 million shares with purchase of 0.12 million shares. This fresh investment now brings its stake to 8.77% valued currently at $246.39 million. In addition, Grantham, Mayo, Van Otterloo & Co raised its holdings by 3.75 million to 14.18 million shares. And BNP Paribas Asset Management UK L has lifted its position by 3.16% or 0.32 million shares – to 10.59 million shares.
With over 13.69 million Sunrun Inc (RUN) shares trading Friday and a closing price of $19.26 on the day, the dollar volume was approximately $263.6 million. The shares have shown a positive half year performance of 8.81% and its price on 12/22/23 lost nearly -0.67%. Currently, there are 214.18M common shares owned by the public and among those 211.75M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The analysts have set the share’s price value over the next 12 months at a high of $43.00 and a low of $10.00. The average price target is 7.45% above its recent price level and a downside to the estimated low will see the stock lose -92.6% over that period. But an upside of 55.21% will see the stock hit the forecast high price target while median target price for the stock is $18.00.
Insiders at the company have transacted a total of 103 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 1,053,140 shares. Insider sales of the common stock occurred on 71 occasions, with total insider shares sold totaling 805,129 shares.
The top 3 mutual fund holders in Sunrun Inc are iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market ETF, and Invesco Solar ETF. iShares Core S&P Mid Cap ETF owns 6.7 million shares of the company’s stock, all valued at over $86.42 million. The company bought an additional 1188.0 shares recently to bring their total holdings to about 3.08% of the shares outstanding. Vanguard Total Stock Market ETF bought 11307.0 shares to see its total holdings expand to 6.46 million shares valued at over $83.34 million and representing 2.97% of the shares outstanding. Invesco Solar ETF bought 16103.0 shares to bring its total holdings to over 6.2 million shares at a value of $79.95 million. Invesco Solar ETF now owns shares totaling to 2.84% of the shares outstanding.
Shares of Sunrun Inc (NASDAQ: RUN) opened at $19.50, up $0.11 from a prior closing price of $19.39. However, the script later moved the day high at 19.98, down -0.67%. The company’s stock has a 5-day price change of 3.38% and 51.06% over the past three months. RUN shares are trading -19.82% year to date (YTD), with the 12-month market performance down to -29.24% lower. It has a 12-month low price of $8.43 and touched a high of $29.72 over the same period. RUN has an average intraday trading volume of 14.35 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 30.20%, 57.32%, and 19.88% respectively.
Institutional ownership of Sunrun Inc (NASDAQ: RUN) shares accounts for 99.06% of the company’s 214.18M shares outstanding. Mutual fund holders own 42.65%, while other institutional holders and individual stakeholders account for 57.77% and 27.23% respectively.
It has a market capitalization of $4.20B and a beta (3y monthly) value of 2.53. The earnings-per-share (ttm) stands at -$5.50. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.79% over the week and 8.45% over the month.
Analysts forecast that Sunrun Inc (RUN) will achieve an EPS of -$0.26 for the current quarter, -$0.41 for the next quarter and -$1.17 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.96 while analysts give the company a high EPS estimate of $0.8. Comparatively, EPS for the current quarter was $0.29 a year ago. Earnings per share for the fiscal year are expected to decrease by -813.83%, and 82.58% over the next financial year. EPS should shrink at an annualized rate of -8.00% over the next five years, compared to -7.36% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 32 brokerage firm advisors rate Sunrun Inc (RUN) as a “Strong Buy” at a consensus score of 1.66. Specifically, 21 Wall Street analysts polled rate the stock as a buy, while 7 of the 32 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the RUN, a number of firms have released research notes about the stock. Piper Sandler stated their Overweight rating for the stock in a research note on December 19, 2023, with the firm’s price target at $15-$31.
