Sunrun Sees Unusually Large Options Volume (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) was the recipient of some unusual options trading on Tuesday. Stock investors acquired 39,800 put options on the company. This represents an increase of approximately 23% compared to the average daily volume of 32,299 put options.

Insider Activity

In other Sunrun news, CEO Mary Powell sold 4,350 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the completion of the transaction, the chief executive officer now owns 560,321 shares in the company, valued at $6,264,388.78. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward Harris Fenster bought 150,000 shares of Sunrun stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the acquisition, the director now 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. Insiders sold a total of 163,064 shares of company stock worth $1,551,556 over the last 90 days. Corporate insiders own 3.77% of the company’s stock.

Institutional Trading of Sunrun

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position 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 buying an additional 1,638 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in Sunrun by 21.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,612 shares of the energy company’s stock worth $372,000 after acquiring an additional 3,676 shares in the last quarter. Pinnacle Associates Ltd. acquired a new position in Sunrun during the third quarter worth $255,000. Van ECK Associates Corp lifted its holdings in Sunrun by 1.8% during the third quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock valued at $905,000 after purchasing an additional 886 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Sunrun by 8.3% in the third quarter. QRG Capital Management Inc. now owns 30,135 shares of the energy company’s stock valued at $544,000 after purchasing an additional 2,317 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Stock Performance

Shares of NASDAQ RUN traded up $0.85 during midday trading on Tuesday, reaching $7.02. 12,029,216 shares of the stock were exchanged, compared to its average volume of 10,647,117. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -3.85 and a beta of 2.59. The firm has a 50-day simple moving average of $9.20 and a two-hundred day simple moving average of $12.94. Sunrun has a twelve month low of $5.93 and a twelve month high of $22.26.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank of Canada cut their target price on Sunrun from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday. JPMorgan Chase & Co. reduced their price objective on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. The Goldman Sachs Group cut their price target on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Monday. UBS Group upgraded Sunrun from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $17.00 in a research note on Friday, January 10th. Finally, TD Cowen lowered their price objective on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.61.

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.