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

by · The Markets Daily

Sunrun Inc. (NASDAQ:RUN – Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 47,000 call options on the stock. This represents an increase of approximately 94% compared to the typical volume of 24,263 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets dropped their price target on shares of Sunrun from $11.00 to $9.00 and set a “market perform” rating on the stock in a research note on Monday, March 3rd. TD Cowen cut their target price on Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group reduced their price target on Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Jefferies Financial Group lowered Sunrun from a “buy” rating to a “hold” rating and lowered their price target for the company from $14.00 to $8.00 in a report on Wednesday, March 12th. Finally, Roth Capital set a $20.00 price objective on shares of Sunrun in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Sunrun currently has an average rating of “Moderate Buy” and an average target price of $17.20.

Get Our Latest Report on Sunrun

Sunrun Stock Up 4.5 %

NASDAQ RUN traded up $0.29 on Wednesday, reaching $6.78. The stock had a trading volume of 14,061,071 shares, compared to its average volume of 10,627,818. Sunrun has a 1 year low of $5.55 and a 1 year high of $22.26. The business has a 50 day moving average price of $7.77 and a 200 day moving average price of $11.02. 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 company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -3.73 and a beta of 2.74.

Insider Buying and Selling at Sunrun

In other Sunrun news, CEO Mary Powell sold 4,350 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was 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. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward Harris Fenster purchased 150,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the transaction, 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 position. The disclosure for this purchase can be found here. Insiders sold a total of 121,466 shares of company stock worth $1,136,397 over the last 90 days. Insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several large investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. grew its position in 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 worth $111,263,000 after acquiring an additional 10,294,947 shares in the last quarter. Greenvale Capital LLP boosted its holdings in Sunrun by 50.3% in the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock worth $124,875,000 after purchasing an additional 4,516,793 shares in the last quarter. Sylebra Capital LLC raised its holdings in Sunrun by 124.0% during the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock valued at $61,819,000 after buying an additional 3,699,405 shares in the last quarter. Norges Bank acquired a new stake in shares of Sunrun in the fourth quarter worth about $31,022,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Sunrun during the 4th quarter worth about $18,500,000. Institutional investors own 91.69% of the company’s stock.

Sunrun Company Profile

(Get Free Report)

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.

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