Morgan Stanley Reiterates Equal Weight Rating for Sunrun (NASDAQ:RUN)

Sunrun (NASDAQ:RUN)‘s stock had its “equal weight” rating reissued by equities research analysts at Morgan Stanley in a report issued on Wednesday, MarketBeat Ratings reports. They currently have a $11.00 target price on the energy company’s stock. Morgan Stanley’s price target suggests a potential upside of 56.03% from the company’s current price.

A number of other equities research analysts have also issued reports on RUN. Roth Capital set a $20.00 price target on shares of Sunrun in a report on Friday, February 28th. Wells Fargo & Company reduced their target price on Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. BNP Paribas upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target on the stock in a report on Tuesday, January 7th. Truist Financial reissued a “hold” rating and issued a $6.00 price objective (down from $9.00) on shares of Sunrun in a research note on Wednesday, April 16th. Finally, Susquehanna decreased their price target on shares of Sunrun from $13.00 to $10.00 and set a “positive” rating for the company in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.92.

Sunrun Trading Up 5.9 %

Shares of RUN opened at $7.05 on Wednesday. The business’s 50-day moving average price is $6.86 and its 200 day moving average price is $9.62. 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 capitalization of $1.59 billion, a P/E ratio of -3.87 and a beta of 2.74. Sunrun has a 1-year low of $5.45 and a 1-year high of $22.26.

Insider Transactions at Sunrun

In related news, insider Jeanna Steele sold 9,942 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $67,009.08. Following the completion of the transaction, the insider now owns 291,238 shares of the company’s stock, valued at approximately $1,962,944.12. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward Harris Fenster bought 150,000 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the acquisition, the director now directly owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. The trade was a 12.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 138,540 shares of company stock worth $1,050,944. 3.77% of the stock is owned by insiders.

Institutional Trading of Sunrun

A number of hedge funds have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of Sunrun during the fourth quarter valued at about $29,000. Newbridge Financial Services Group Inc. raised its holdings in Sunrun by 133.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after acquiring an additional 2,000 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Sunrun in the 3rd quarter valued at approximately $44,000. Summit Securities Group LLC bought a new stake in shares of Sunrun in the 4th quarter worth approximately $53,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Sunrun during the 4th quarter worth approximately $56,000. 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.