Sunrun (NASDAQ:RUN) Receives “Overweight” Rating from Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of Sunrun (NASDAQ:RUN) in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $35.00 price target on the energy company’s stock.

Other analysts have also issued reports about the stock. Truist Financial restated a hold rating and set a $18.00 price target (up from $12.00) on shares of Sunrun in a research report on Wednesday, August 7th. Barclays upped their price target on shares of Sunrun from $16.00 to $19.00 and gave the company an equal weight rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price target on shares of Sunrun from $19.00 to $22.00 and gave the company an overweight rating in a research report on Wednesday, August 7th. UBS Group upped their price target on shares of Sunrun from $14.00 to $18.00 and gave the company a neutral rating in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Sunrun to a sell rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Sunrun presently has an average rating of Moderate Buy and a consensus price target of $22.33.

Sunrun Stock Up 1.5 %

Shares of NASDAQ:RUN opened at $18.56 on Tuesday. Sunrun has a 52-week low of $8.43 and a 52-week high of $22.26. The firm has a fifty day moving average of $18.70 and a 200 day moving average of $14.58. The firm has a market capitalization of $4.11 billion, a PE ratio of -2.78 and a beta of 2.59. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66.

Sunrun (NASDAQ:RUN) last announced its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.88. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The company had revenue of $523.87 million during the quarter, compared to analyst estimates of $516.76 million. During the same period in the previous year, the business earned $0.25 earnings per share. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. As a group, research analysts anticipate that Sunrun will post -0.16 EPS for the current fiscal year.

Insider Activity

In related news, CRO Paul S. Dickson sold 3,855 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.62, for a total transaction of $48,650.10. Following the completion of the sale, the executive now directly owns 443,329 shares in the company, valued at $5,594,811.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the sale, the director now directly owns 1,192,446 shares of the company’s stock, valued at $24,087,409.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Paul S. Dickson sold 3,855 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $12.62, for a total value of $48,650.10. Following the completion of the transaction, the executive now directly owns 443,329 shares in the company, valued at $5,594,811.98. The disclosure for this sale can be found here. Insiders have sold a total of 178,675 shares of company stock worth $3,253,289 over the last 90 days. 3.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. Healthcare of Ontario Pension Plan Trust Fund increased its position in Sunrun by 4.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 582,217 shares of the energy company’s stock worth $6,905,000 after purchasing an additional 22,779 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sunrun in the 2nd quarter worth $104,000. Sanctuary Advisors LLC bought a new stake in shares of Sunrun in the 2nd quarter worth about $2,174,000. Cetera Investment Advisers raised its position in shares of Sunrun by 5.1% during the 2nd quarter. Cetera Investment Advisers now owns 100,017 shares of the energy company’s stock valued at $1,186,000 after buying an additional 4,840 shares in the last quarter. Finally, Granite Bay Wealth Management LLC bought a new position in shares of Sunrun in the 2nd quarter valued at about $525,000. 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.