Sunrun Sees Unusually High Options Volume (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) saw some unusual options trading on Tuesday. Stock traders acquired 28,484 put options on the company. This is an increase of approximately 19% compared to the average volume of 24,037 put options.

Sunrun Price Performance

RUN stock opened at $6.78 on Thursday. The company has a market capitalization of $1.53 billion, a P/E ratio of -3.73 and a beta of 2.74. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. Sunrun has a 52-week low of $5.55 and a 52-week high of $22.26. The business has a 50-day simple moving average of $7.73 and a two-hundred day simple moving average of $10.99.

Insider Activity

In related news, CRO Paul S. Dickson sold 2,968 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $33,182.24. Following the sale, the executive now owns 418,492 shares of the company’s stock, valued at $4,678,740.56. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward Harris Fenster bought 150,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost 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 of the company’s stock, valued at $9,235,637.60. This trade represents a 12.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 121,466 shares of company stock valued at $1,136,397. Insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several institutional investors have recently modified their holdings of RUN. CIBC Asset Management Inc lifted its stake in Sunrun by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company’s stock valued at $229,000 after purchasing an additional 1,360 shares during the last quarter. Guggenheim Capital LLC grew its stake in Sunrun by 6.8% during the fourth quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company’s stock valued at $253,000 after acquiring an additional 1,749 shares in the last quarter. Xponance Inc. increased its holdings in shares of Sunrun by 13.2% in the fourth quarter. Xponance Inc. now owns 16,265 shares of the energy company’s stock worth $150,000 after purchasing an additional 1,895 shares during the period. Newbridge Financial Services Group Inc. boosted its position in shares of Sunrun by 133.3% during 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 during the last quarter. Finally, Scotia Capital Inc. grew its holdings in shares of Sunrun by 17.7% during the fourth quarter. Scotia Capital Inc. now owns 14,377 shares of the energy company’s stock worth $133,000 after purchasing an additional 2,157 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on RUN shares. StockNews.com upgraded shares of Sunrun to a “sell” rating in a report on Friday, December 20th. TD Cowen dropped 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, February 28th. Barclays lowered their price target on Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Truist Financial reissued a “hold” rating and set a $9.00 price target (down from $12.00) on shares of Sunrun in a report on Monday, March 3rd. Finally, Royal Bank of Canada lowered their target price on Sunrun from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.20.

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.