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

Sunrun Inc. (NASDAQ:RUN) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 47,000 call options on the company. This is an increase of approximately 94% compared to the typical volume of 24,263 call options.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RUN shares. BMO Capital Markets cut their target price 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. UBS Group reduced their price objective on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. StockNews.com raised shares of Sunrun to a “sell” rating in a research note on Friday, December 20th. BNP Paribas upgraded shares of 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. Finally, Truist Financial reissued a “hold” rating and issued a $9.00 target price (down from $12.00) on shares of Sunrun in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given 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 $17.20.

Sunrun Trading Up 4.5 %

Shares of NASDAQ:RUN traded up $0.29 during midday trading on Wednesday, hitting $6.78. The company had a trading volume of 14,061,071 shares, compared to its average volume of 10,627,818. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. Sunrun has a 12 month low of $5.55 and a 12 month high of $22.26. The firm has a fifty day simple moving average of $7.77 and a 200 day simple moving average of $11.02. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -3.73 and a beta of 2.74.

Insiders Place Their Bets

In related news, CRO Paul S. Dickson sold 2,968 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 transaction of $33,182.24. Following the transaction, the executive now owns 418,492 shares of the company’s stock, valued at approximately $4,678,740.56. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $9.59, for a total transaction of $479,500.00. Following the transaction, the director now owns 991,753 shares in the company, valued at approximately $9,510,911.27. The trade was a 4.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,466 shares of company stock valued at $1,136,397 in the last quarter. Insiders own 3.77% of the company’s stock.

Institutional Trading of Sunrun

A number of hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Sunrun in the fourth quarter worth $94,000. Sylebra Capital LLC grew its stake in Sunrun by 124.0% in the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock valued at $61,819,000 after acquiring an additional 3,699,405 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Sunrun by 8.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 662,211 shares of the energy company’s stock worth $6,125,000 after acquiring an additional 52,176 shares in the last quarter. Vident Advisory LLC lifted its holdings in shares of Sunrun by 76.9% during the 4th quarter. Vident Advisory LLC now owns 20,219 shares of the energy company’s stock valued at $187,000 after purchasing an additional 8,792 shares in the last quarter. Finally, Teza Capital Management LLC grew its position in shares of Sunrun by 12.9% in the 4th quarter. Teza Capital Management LLC now owns 44,677 shares of the energy company’s stock valued at $413,000 after purchasing an additional 5,121 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.