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

Sunrun (NASDAQ:RUN - Get Free Report) had its target price decreased by stock analysts at Morgan Stanley from $35.00 to $27.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the energy company's stock. Morgan Stanley's price objective suggests a potential upside of 173.00% from the stock's previous close.

RUN has been the topic of several other research reports. StockNews.com upgraded Sunrun to a "sell" rating in a research report on Friday, September 27th. Truist Financial reiterated a "hold" rating and set a $12.00 target price (down previously from $18.00) on shares of Sunrun in a research report on Tuesday. Evercore ISI dropped their target price on Sunrun from $42.00 to $38.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 7th. Guggenheim cut Sunrun from a "buy" rating to a "neutral" rating in a research report on Thursday, November 7th. Finally, Piper Sandler boosted their price target on Sunrun from $20.00 to $23.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.12.

Sunrun Stock Performance

Shares of Sunrun stock traded down $1.02 on Friday, hitting $9.89. The stock had a trading volume of 13,519,412 shares, compared to its average volume of 12,061,085. Sunrun has a 52-week low of $9.23 and a 52-week 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 stock has a market cap of $2.22 billion, a price-to-earnings ratio of -5.43 and a beta of 2.61. The company's 50 day moving average price is $15.86 and its 200 day moving average price is $15.40.

Insider Activity at Sunrun

In other news, CFO Danny Abajian sold 9,694 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.75, for a total transaction of $191,456.50. Following the transaction, the chief financial officer now owns 278,260 shares of the company's stock, valued at approximately $5,495,635. This trade represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gerald Alan Risk sold 9,045 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $20.04, for a total transaction of $181,261.80. Following the transaction, the director now directly owns 334,761 shares in the company, valued at $6,708,610.44. The trade was a 2.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 155,840 shares of company stock worth $2,755,487. Corporate insiders own 3.77% of the company's stock.

Hedge Funds Weigh In On Sunrun

Large investors have recently bought and sold shares of the business. International Assets Investment Management LLC increased its stake in shares of Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company's stock valued at $31,000 after purchasing an additional 1,638 shares during the period. Blue Trust Inc. increased its stake in shares of 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 period. Duncker Streett & Co. Inc. acquired a new position in shares of Sunrun during the second quarter valued at approximately $36,000. CWM LLC increased its stake in shares of Sunrun by 883.9% during the second quarter. CWM LLC now owns 3,355 shares of the energy company's stock valued at $40,000 after acquiring an additional 3,014 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Sunrun during the second quarter valued at approximately $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.