Sunrun (NASDAQ:RUN) Stock Rating Reaffirmed by Morgan Stanley

Sunrun (NASDAQ:RUN)‘s stock had its “overweight” rating reiterated by equities research analysts at Morgan Stanley in a report issued on Tuesday, Benzinga reports. They presently have a $35.00 price objective on the energy company’s stock. Morgan Stanley’s price target suggests a potential upside of 85.09% from the stock’s current price.

Several other research firms have also weighed in on RUN. Oppenheimer upped their price objective on shares of Sunrun from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Evercore ISI cut their price objective on Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Truist Financial restated a “hold” rating and issued a $18.00 target price (up previously from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. BMO Capital Markets raised their price target on Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 7th. Finally, Susquehanna boosted 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 issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Sunrun has an average rating of “Moderate Buy” and an average price target of $22.33.

Sunrun Stock Performance

Shares of RUN stock opened at $18.91 on Tuesday. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of -2.84 and a beta of 2.59. 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 stock’s fifty day simple moving average is $18.61 and its 200-day simple moving average is $14.48.

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

Insider Buying and Selling

In other Sunrun news, insider Jeanna Steele sold 2,513 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $12.61, for a total value of $31,688.93. Following the sale, the insider now owns 312,774 shares of the company’s stock, valued at approximately $3,944,080.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Lynn Michelle Jurich sold 1,937 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $18.23, for a total transaction of $35,311.51. Following the transaction, the director now owns 1,242,446 shares in the company, valued at approximately $22,649,790.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeanna Steele sold 2,513 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $12.61, for a total transaction of $31,688.93. Following the completion of the sale, the insider now owns 312,774 shares of the company’s stock, valued at approximately $3,944,080.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,675 shares of company stock valued at $3,253,289. Insiders own 3.76% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Sunrun by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after purchasing an additional 2,743,148 shares in the last quarter. Greenvale Capital LLP lifted its position in Sunrun by 20.5% in the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after purchasing an additional 2,000,000 shares during the period. Robeco Schweiz AG boosted its stake in Sunrun by 23.5% during the first quarter. Robeco Schweiz AG now owns 4,611,300 shares of the energy company’s stock worth $60,777,000 after buying an additional 876,000 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Sunrun by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock valued at $52,025,000 after buying an additional 729,633 shares during the period. Finally, Sylebra Capital LLC acquired a new position in shares of Sunrun in the 2nd quarter valued at $35,387,000. Institutional investors and hedge funds 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.