Sunrun Sees Unusually High Options Volume (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) was the target of some unusual options trading on Tuesday. Stock investors purchased 28,484 put options on the stock. This represents an increase of 19% compared to the typical volume of 24,037 put options.

Sunrun Stock Performance

NASDAQ:RUN opened at $6.78 on Thursday. Sunrun has a 1-year low of $5.55 and a 1-year high of $22.26. The firm has a 50 day simple moving average of $7.73 and a 200-day simple moving average of $10.99. The firm has a market cap of $1.53 billion, a PE ratio of -3.73 and a beta of 2.74. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Insider Activity at Sunrun

In related news, CFO Danny Abajian sold 3,734 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $41,746.12. Following the sale, the chief financial officer now owns 257,969 shares of the company’s stock, valued at $2,884,093.42. The trade was a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edward Harris Fenster bought 150,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the transaction, the director now owns 1,358,182 shares in the company, valued at $9,235,637.60. This represents a 12.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 121,466 shares of company stock worth $1,136,397. Company insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on RUN. TD Cowen cut their target price on Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Roth Capital set a $20.00 price objective on Sunrun in a research note on Friday, February 28th. BNP Paribas raised Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target for the company in a research note on Tuesday, January 7th. UBS Group reduced their target price on Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. dropped their price target on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Sunrun currently has an average rating of “Moderate Buy” and a consensus price target of $17.20.

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.