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

Sunrun (NASDAQ:RUN) had its price target cut by research analysts at Morgan Stanley from $35.00 to $27.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the energy company’s stock. Morgan Stanley’s price target would indicate a potential upside of 173.00% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Evercore ISI reduced their target price on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Roth Mkm decreased their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Guggenheim cut Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. The Goldman Sachs Group reissued a “buy” rating and set a $20.00 target price on shares of Sunrun in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group dropped their price target on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.12.

Sunrun Trading Down 9.3 %

RUN opened at $9.89 on Friday. Sunrun has a 1 year low of $9.23 and a 1 year high of $22.26. The firm has a 50 day moving average price of $15.70 and a 200 day moving average price of $15.43. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Insider Activity at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated 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 transaction, the director now owns 1,142,446 shares in the company, valued at $16,679,711.60. This represents a 4.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mary Powell sold 6,415 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $16.34, for a total transaction of $104,821.10. Following the sale, the chief executive officer now owns 569,368 shares in the company, valued at $9,303,473.12. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 155,840 shares of company stock worth $2,755,487 in the last three months. 3.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunrun

Several hedge funds have recently modified their holdings of RUN. Victory Capital Management Inc. boosted its stake in Sunrun by 1.5% during the second quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock valued at $538,000 after buying an additional 691 shares in the last quarter. Creative Planning boosted its position in shares of Sunrun by 0.3% during the 3rd quarter. Creative Planning now owns 290,259 shares of the energy company’s stock valued at $5,242,000 after purchasing an additional 784 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Sunrun by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock worth $905,000 after purchasing an additional 886 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Sunrun by 6.0% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,690 shares of the energy company’s stock worth $186,000 after purchasing an additional 895 shares in the last quarter. Finally, &PARTNERS lifted its stake in Sunrun by 1.6% during the second quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock valued at $698,000 after purchasing an additional 1,019 shares during the last quarter. 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.