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

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

RUN has been the topic of a number of other reports. Barclays cut their price target on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their target price 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 lowered 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. UBS Group increased their target price on Sunrun from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Guggenheim cut Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Two research 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.12.

Sunrun Stock Performance

Shares of NASDAQ:RUN opened at $9.89 on Friday. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -5.43 and a beta of 2.61. The firm’s 50 day simple moving average is $15.70 and its 200 day simple moving average is $15.47. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. Sunrun has a fifty-two week low of $9.23 and a fifty-two week high of $22.26.

Insider Buying and Selling

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun 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 completion of the transaction, the director now directly owns 1,142,446 shares of the company’s stock, valued at $16,679,711.60. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeanna Steele sold 2,357 shares of Sunrun stock in a transaction on Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $42,968.11. Following the transaction, the insider now directly owns 308,260 shares of the company’s stock, valued at approximately $5,619,579.80. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,795 shares of company stock worth $2,574,225. Insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Sunrun by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock worth $96,019,000 after purchasing an additional 30,549 shares during the period. MML Investors Services LLC boosted its position in Sunrun by 9.3% during the third quarter. MML Investors Services LLC now owns 43,313 shares of the energy company’s stock worth $782,000 after purchasing an additional 3,689 shares during the period. XTX Topco Ltd bought a new stake in shares of Sunrun in the third quarter valued at about $618,000. Zacks Investment Management bought a new stake in shares of Sunrun in the third quarter valued at about $538,000. Finally, EP Wealth Advisors LLC boosted its position in shares of Sunrun by 3.2% in the third quarter. EP Wealth Advisors LLC now owns 110,073 shares of the energy company’s stock valued at $1,988,000 after acquiring an additional 3,388 shares during the period. 91.69% of the stock is owned by institutional investors.

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.