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

Sunrun Inc. (NASDAQ:RUN) was the target of unusually large options trading activity on Tuesday. Investors purchased 28,484 put options on the company. This represents an increase of 19% compared to the typical daily volume of 24,037 put options.

Analyst Ratings Changes

Several analysts have recently commented on RUN shares. StockNews.com upgraded 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 objective for the company in a research report on Tuesday, January 7th. BMO Capital Markets dropped their target price on Sunrun from $11.00 to $9.00 and set a “market perform” rating on the stock in a research report on Monday, March 3rd. Royal Bank of Canada reduced their price target on Sunrun from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, Barclays dropped their price objective on Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.20.

Insider Transactions at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 2,968 shares of Sunrun stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $33,182.24. Following the transaction, the executive now directly owns 418,492 shares in the company, valued at approximately $4,678,740.56. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward Harris Fenster purchased 150,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the purchase, the director now directly owns 1,358,182 shares of the company’s stock, valued at approximately $9,235,637.60. The trade was 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 have sold 121,466 shares of company stock worth $1,136,397. Insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Hedge funds and other institutional investors have recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Sunrun during the fourth quarter valued at approximately $18,500,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sunrun by 7.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company’s stock worth $21,511,000 after purchasing an additional 155,311 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Sunrun during the fourth quarter worth $403,000. Principal Financial Group Inc. grew its position in shares of Sunrun by 33.7% in the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock valued at $26,385,000 after purchasing an additional 367,835 shares during the period. Finally, MetLife Investment Management LLC lifted its position in Sunrun by 129.1% during the third quarter. MetLife Investment Management LLC now owns 126,174 shares of the energy company’s stock worth $2,279,000 after buying an additional 71,094 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Sunrun Price Performance

Shares of RUN traded up $0.60 during trading hours on Tuesday, reaching $6.46. 11,658,542 shares of the company traded hands, compared to its average volume of 10,599,951. The stock has a fifty day simple moving average of $7.82 and a 200 day simple moving average of $11.11. Sunrun has a fifty-two week low of $5.55 and a fifty-two week high of $22.26. The stock has a market capitalization of $1.46 billion, a PE ratio of -3.56 and a beta of 2.84. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

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.