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

Morgan Stanley reaffirmed their overweight rating on shares of Sunrun (NASDAQ:RUN) in a research report report published on Tuesday, Benzinga reports. Morgan Stanley currently has a $35.00 price objective on the energy company’s stock.

RUN has been the subject of several other reports. StockNews.com raised Sunrun to a sell rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised their target price on Sunrun from $12.00 to $16.50 and gave the company a hold rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on Sunrun from $19.00 to $22.00 and gave the company an overweight rating in a research note on Wednesday, August 7th. Piper Sandler lifted their price target on Sunrun from $20.00 to $23.00 and gave the company an overweight rating in a research note on Wednesday, August 7th. Finally, Susquehanna lifted their price target on Sunrun from $23.00 to $24.00 and gave the company a positive rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Sunrun has a consensus rating of Moderate Buy and an average price target of $22.33.

Sunrun Stock Performance

RUN stock opened at $18.56 on Tuesday. The stock has a 50-day moving average price of $18.70 and a 200-day moving average price of $14.58. Sunrun has a 1-year low of $8.43 and a 1-year high of $22.26. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84. The firm has a market cap of $4.11 billion, a PE ratio of -2.78 and a beta of 2.59.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently bought and sold shares of RUN. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Sunrun by 4.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 582,217 shares of the energy company’s stock valued at $6,905,000 after purchasing an additional 22,779 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sunrun during the 2nd quarter valued at $104,000. Sanctuary Advisors LLC purchased a new position in shares of Sunrun during the 2nd quarter valued at $2,174,000. Cetera Investment Advisers grew 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 purchasing an additional 4,840 shares in the last quarter. Finally, Granite Bay Wealth Management LLC purchased a new position in shares of Sunrun during the 2nd quarter valued at $525,000. Institutional investors own 91.69% of the company’s stock.

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.