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

Sunrun (NASDAQ:RUN) had its price objective dropped by stock analysts at Morgan Stanley from $35.00 to $27.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the energy company’s stock. Morgan Stanley’s price target would suggest a potential upside of 147.48% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Sunrun from $20.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. BMO Capital Markets reduced their price objective on Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a report on Monday. Truist Financial reaffirmed a “hold” rating and set a $12.00 price target (down from $18.00) on shares of Sunrun in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Sunrun has an average rating of “Hold” and a consensus target price of $20.12.

Sunrun Stock Performance

RUN stock opened at $10.91 on Friday. The business’s 50-day moving average price is $15.86 and its two-hundred day moving average price is $15.40. Sunrun has a 1-year low of $9.23 and a 1-year high of $22.26. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm has a market cap of $2.45 billion, a PE ratio of -5.99 and a beta of 2.61.

Insider Buying and Selling

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $14.60, for a total transaction of $730,000.00. Following the transaction, the director now directly owns 1,142,446 shares of the company’s stock, valued at $16,679,711.60. This represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeanna Steele sold 2,357 shares of Sunrun stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $18.23, for a total transaction of $42,968.11. Following the transaction, the insider now owns 308,260 shares of the company’s stock, valued at $5,619,579.80. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,840 shares of company stock valued at $2,755,487 over the last quarter. Insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings 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 purchasing an additional 1,638 shares in the last quarter. Blue Trust Inc. grew its position in Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after acquiring an additional 1,465 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new position in shares of Sunrun during the second quarter worth approximately $36,000. CWM LLC lifted its holdings in shares of Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after acquiring an additional 3,014 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Sunrun in the 2nd quarter valued at $45,000. Institutional investors own 91.69% of the company’s stock.

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.