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

Sunrun (NASDAQ:RUN) had its target price decreased by stock analysts at Morgan Stanley from $35.00 to $27.00 in a report issued 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 173.00% from the company’s current price.

Several other research firms have also recently weighed in on RUN. Deutsche Bank Aktiengesellschaft lifted their price objective 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. Susquehanna dropped their price target on Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research report on Wednesday, October 16th. BMO Capital Markets decreased their price objective on Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday, November 11th. Roth Mkm lowered their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $20.00 price target on shares of Sunrun in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Sunrun presently has a consensus rating of “Hold” and an average target price of $20.12.

Sunrun Stock Down 9.3 %

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

Insider Activity

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 1,142,446 shares in the company, valued at $16,679,711.60. This represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mary Powell sold 2,148 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total value of $40,360.92. Following the completion of the sale, the chief executive officer now directly owns 579,193 shares in the company, valued at approximately $10,883,036.47. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,840 shares of company stock valued at $2,755,487. Insiders own 3.77% of the company’s stock.

Institutional Trading of Sunrun

Several hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in 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 period. Blue Trust Inc. increased 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 worth $33,000 after acquiring an additional 1,465 shares during the period. Duncker Streett & Co. Inc. acquired a new position in Sunrun during the 2nd quarter valued at $36,000. CWM LLC boosted its holdings 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. bought a new stake in 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.