Sunrun (NASDAQ:RUN) Price Target Cut to $27.00 by Analysts at Morgan Stanley

Sunrun (NASDAQ:RUN) had its price objective decreased by Morgan Stanley from $35.00 to $27.00 in a report issued on Friday,Benzinga reports. Morgan Stanley currently has an overweight rating on the energy company’s stock.

Other research analysts have also issued research reports about the stock. Truist Financial reissued a “hold” rating and set a $12.00 price objective (down previously from $18.00) on shares of Sunrun in a research note on Tuesday. The Goldman Sachs Group reissued a “buy” rating and issued a $20.00 price target on shares of Sunrun in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft raised their price objective on Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a research note on Thursday, August 8th. BMO Capital Markets decreased their target price on Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research note on Monday, November 11th. Finally, Piper Sandler raised their price target on Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.12.

Sunrun Trading Down 9.3 %

NASDAQ:RUN traded down $1.02 during mid-day trading on Friday, hitting $9.89. The company had a trading volume of 13,664,895 shares, compared to its average volume of 12,061,085. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. Sunrun has a fifty-two week low of $9.23 and a fifty-two week high of $22.26. The firm has a market cap of $2.22 billion, a P/E ratio of -5.43 and a beta of 2.61. The business’s fifty day moving average is $15.70 and its two-hundred day moving average is $15.39.

Insider Activity at Sunrun

In other Sunrun news, Director Gerald Alan Risk sold 9,045 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $20.04, for a total value of $181,261.80. Following the sale, the director now owns 334,761 shares in the company, valued at $6,708,610.44. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $14.60, for a total value of $730,000.00. Following the completion of the sale, the director now directly owns 1,142,446 shares of the company’s stock, valued at approximately $16,679,711.60. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,840 shares of company stock valued at $2,755,487. Insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC boosted its holdings in shares of Sunrun by 1,706.3% during 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 period. Blue Trust Inc. grew its position in shares of Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after purchasing an additional 1,465 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new position in shares of Sunrun in the second quarter valued at approximately $36,000. CWM LLC lifted its holdings in Sunrun by 883.9% during the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after purchasing an additional 3,014 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Sunrun in the 2nd quarter valued at $45,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.