Traders Buy High Volume of Sunrun Put Options (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) was the target of some unusual options trading on Tuesday. Stock traders bought 39,800 put options on the company. This is an increase of approximately 23% compared to the typical volume of 32,299 put options.

Sunrun Stock Performance

RUN stock traded up $0.85 during trading on Tuesday, reaching $7.02. The stock had a trading volume of 12,029,216 shares, compared to its average volume of 10,647,117. The stock’s 50 day moving average is $9.20 and its two-hundred day moving average is $12.94. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm has a market cap of $1.57 billion, a PE ratio of -3.85 and a beta of 2.59. Sunrun has a 52 week low of $5.93 and a 52 week high of $22.26.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. StockNews.com raised Sunrun to a “sell” rating in a research report on Friday, December 20th. Wells Fargo & Company dropped their price objective on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Piper Sandler downgraded shares of Sunrun from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $11.00 in a research note on Friday, November 22nd. Oppenheimer lowered their target price on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, UBS Group upgraded Sunrun from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $17.00 in a research note on Friday, January 10th. Two equities research 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. According to data from MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and an average price target of $17.61.

Insider Buying and Selling at Sunrun

In related news, Director Edward Harris Fenster purchased 150,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $6.80 per share, with a total value of $1,020,000.00. Following the completion of the purchase, the director now directly owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. This represents a 12.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mary Powell sold 4,350 shares of Sunrun stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 560,321 shares in the company, valued at approximately $6,264,388.78. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,064 shares of company stock valued at $1,551,556 in the last 90 days. Insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Sunrun by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company’s stock worth $219,679,000 after purchasing an additional 343,448 shares during the period. Greenvale Capital LLP boosted its holdings in Sunrun by 50.3% in the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock worth $124,875,000 after buying an additional 4,516,793 shares during the period. Alyeska Investment Group L.P. lifted its position in shares of Sunrun by 593.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock valued at $111,263,000 after acquiring an additional 10,294,947 shares in the last quarter. State Street Corp raised its stake in Sunrun by 0.6% during the 3rd quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock valued at $165,424,000 after purchasing an additional 54,329 shares during the period. Finally, Sylebra Capital LLC boosted its stake in Sunrun by 124.0% in the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock worth $61,819,000 after purchasing an additional 3,699,405 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.