Sunrun Inc (NASDAQ:RUN) Short Interest Up 7.3% in June
Sunrun Inc (NASDAQ:RUN) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 13,185,700 shares, an increase of 7.3% from the May 30th total of 12,288,900 shares. Based on an average daily trading volume, of 1,400,000 shares, the days-to-cover ratio is currently 9.4 days. Currently, 14.6% of the company’s stock are short sold.
In related news, CEO Lynn Michelle Jurich sold 131,002 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $20.02, for a total transaction of $2,622,660.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Tiger Global Management Llc acquired 146,708 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were bought at an average price of $15.78 per share, for a total transaction of $2,315,052.24. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 2,665,881 shares of company stock worth $48,755,482 and have sold 343,397 shares worth $6,606,783. Corporate insiders own 9.34% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RUN. FMR LLC raised its position in shares of Sunrun by 0.9% during the 4th quarter. FMR LLC now owns 16,777,863 shares of the energy company’s stock valued at $182,711,000 after purchasing an additional 141,866 shares during the period. BlackRock Inc. raised its position in shares of Sunrun by 4.8% during the 4th quarter. BlackRock Inc. now owns 6,725,927 shares of the energy company’s stock valued at $73,246,000 after purchasing an additional 306,011 shares during the period. Neuberger Berman Group LLC raised its position in shares of Sunrun by 5.4% during the 1st quarter. Neuberger Berman Group LLC now owns 3,912,073 shares of the energy company’s stock valued at $55,003,000 after purchasing an additional 200,636 shares during the period. Millennium Management LLC raised its position in shares of Sunrun by 147.8% during the 4th quarter. Millennium Management LLC now owns 2,946,325 shares of the energy company’s stock valued at $32,085,000 after purchasing an additional 1,757,496 shares during the period. Finally, Norges Bank bought a new stake in shares of Sunrun during the 4th quarter valued at $16,863,000. Institutional investors and hedge funds own 81.94% of the company’s stock.
RUN opened at $20.22 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.37 and a debt-to-equity ratio of 1.64. Sunrun has a 1-year low of $8.81 and a 1-year high of $20.67. The company has a market capitalization of $2.33 billion, a P/E ratio of 87.91, a PEG ratio of 4.25 and a beta of 0.65. The stock has a 50 day simple moving average of $18.00.
Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, May 8th. The energy company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.43). Sunrun had a negative return on equity of 1.19% and a negative net margin of 1.88%. The business had revenue of $194.50 million during the quarter, compared to the consensus estimate of $152.90 million. As a group, research analysts expect that Sunrun will post 0.94 earnings per share for the current year.
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.
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