Morgan Stanley Lowers Sunrun (NASDAQ:RUN) Price Target to $27.00

Sunrun (NASDAQ:RUN) had its target price cut by Morgan Stanley from $35.00 to $27.00 in a research note published on Friday morning,Benzinga reports. They currently have an overweight rating on the energy company’s stock.

A number of other research analysts have also recently commented on RUN. Truist Financial restated a “hold” rating and issued a $12.00 price target (down previously from $18.00) on shares of Sunrun in a research report on Tuesday. Evercore ISI decreased their price objective on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. StockNews.com upgraded Sunrun to a “sell” rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group decreased their target price on Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.12.

Sunrun Stock Performance

Shares of RUN traded down $1.02 during mid-day trading on Friday, hitting $9.89. 13,664,895 shares of the company’s stock were exchanged, compared to its average volume of 12,061,085. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -5.43 and a beta of 2.61. The stock’s 50-day simple moving average is $15.70 and its 200-day simple moving average is $15.39. Sunrun has a 52 week low of $9.23 and a 52 week high of $22.26.

Insider Buying and Selling at Sunrun

In related news, CEO Mary Powell sold 2,148 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.79, for a total transaction of $40,360.92. Following the transaction, the chief executive officer now directly owns 579,193 shares of the company’s stock, valued at approximately $10,883,036.47. This represents a 0.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gerald Alan Risk sold 9,045 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $20.04, for a total value of $181,261.80. Following the completion of the sale, the director now directly owns 334,761 shares of the company’s stock, valued at $6,708,610.44. This trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,840 shares of company stock valued at $2,755,487. 3.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunrun

Large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its stake in shares of Sunrun by 1,706.3% in the 3rd 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 last quarter. Blue Trust Inc. lifted its holdings in Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after acquiring an additional 1,465 shares during the period. Duncker Streett & Co. Inc. purchased a new position in Sunrun in the second quarter worth $36,000. CWM LLC grew its stake in Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after purchasing an additional 3,014 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Sunrun during the 2nd quarter valued at $45,000. Institutional investors own 91.69% of the company’s stock.

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.