Sunrun Sees Unusually Large Options Volume (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) saw some unusual options trading activity on Wednesday. Traders purchased 47,000 call options on the company. This represents an increase of 94% compared to the typical volume of 24,263 call options.

Sunrun Stock Up 4.5 %

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

Analyst Ratings Changes

A number of analysts recently commented on the company. BMO Capital Markets decreased their price objective on Sunrun from $11.00 to $9.00 and set a “market perform” rating on the stock in a research note on Monday, March 3rd. Wells Fargo & Company lowered their price target on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Truist Financial restated a “hold” rating and set a $9.00 target price (down previously from $12.00) on shares of Sunrun in a research report on Monday, March 3rd. Finally, Roth Capital set a $20.00 price target on Sunrun in a report on Friday, February 28th. Two 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.20.

Insider Activity

In other Sunrun news, CRO Paul S. Dickson sold 2,968 shares of Sunrun stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $33,182.24. Following the completion of the transaction, the executive now owns 418,492 shares in the company, 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 accessible through this link. Also, CEO Mary Powell sold 4,350 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the completion of the sale, the chief executive officer now owns 560,321 shares in the company, valued at $6,264,388.78. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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

A number of institutional investors have recently made changes to their positions in RUN. CIBC Asset Management Inc boosted its holdings in Sunrun by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company’s stock worth $229,000 after purchasing an additional 1,360 shares during the period. Guggenheim Capital LLC boosted its holdings in shares of Sunrun by 6.8% in the 4th quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company’s stock valued at $253,000 after buying an additional 1,749 shares during the period. Xponance Inc. grew its position in shares of Sunrun by 13.2% during the 4th quarter. Xponance Inc. now owns 16,265 shares of the energy company’s stock valued at $150,000 after buying an additional 1,895 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after acquiring an additional 2,000 shares during the period. Finally, Scotia Capital Inc. lifted its holdings in Sunrun by 17.7% in the fourth quarter. Scotia Capital Inc. now owns 14,377 shares of the energy company’s stock worth $133,000 after acquiring an additional 2,157 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

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.