Sunrun Target of Unusually High Options Trading (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) was the target of unusually large options trading activity on Tuesday. Traders acquired 28,484 put options on the stock. This is an increase of approximately 19% compared to the typical volume of 24,037 put options.

Analyst Ratings Changes

Several brokerages have recently issued reports on RUN. The Goldman Sachs Group lowered their price objective on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Roth Capital set a $20.00 price target on shares of Sunrun in a research report on Friday, February 28th. Truist Financial reiterated a “hold” rating and set a $9.00 price objective (down previously from $12.00) on shares of Sunrun in a research report on Monday, March 3rd. BMO Capital Markets reduced their price objective on Sunrun from $11.00 to $9.00 and set a “market perform” rating for the company in a research note on Monday, March 3rd. Finally, 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, March 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

Insider Buying and Selling

In other news, Director Edward Harris Fenster purchased 150,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $6.80 per share, with a total value of $1,020,000.00. Following the purchase, the director now owns 1,358,182 shares in the company, valued at $9,235,637.60. This trade represents a 12.42 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mary Powell sold 4,350 shares of Sunrun stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $48,633.00. Following the transaction, the chief executive officer now owns 560,321 shares in the company, valued at approximately $6,264,388.78. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,466 shares of company stock valued at $1,136,397 over the last 90 days. 3.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunrun

A number of large investors have recently bought and sold shares of RUN. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sunrun in the third quarter worth about $44,000. Aster Capital Management DIFC Ltd acquired a new stake in Sunrun in the 4th quarter worth approximately $29,000. Newbridge Financial Services Group Inc. lifted its holdings in Sunrun by 133.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after purchasing an additional 2,000 shares during the last quarter. Summit Securities Group LLC bought a new stake in Sunrun during the fourth quarter worth approximately $53,000. Finally, Union Bancaire Privee UBP SA acquired a new position in Sunrun during the fourth quarter valued at approximately $56,000. 91.69% of the stock is currently owned by institutional investors.

Sunrun Trading Up 10.8 %

NASDAQ:RUN opened at $6.49 on Wednesday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The company has a market capitalization of $1.47 billion, a P/E ratio of -3.57 and a beta of 2.84. The stock’s 50 day moving average price is $7.77 and its 200 day moving average price is $11.02. Sunrun has a 52 week low of $5.55 and a 52 week high of $22.26.

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.