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

Sunrun Inc. (NASDAQ:RUN - Get Free Report) was the target of some unusual options trading activity on Wednesday. Traders bought 47,000 call options on the stock. This is an increase of approximately 94% compared to the average daily volume of 24,263 call options.

Insider Activity

In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.10, for a total value of $455,000.00. Following the completion of the transaction, the director now directly owns 941,753 shares in the company, valued at approximately $8,569,952.30. This trade represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward Harris Fenster bought 150,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 $9,235,637.60. This represents a 12.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 108,402 shares of company stock valued at $990,341. 3.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in 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 in the last quarter. Greenvale Capital LLP grew its position in shares of 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 acquiring an additional 4,516,793 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Sunrun by 593.9% in the 4th 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 during the last quarter. State Street Corp raised its position in shares of 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 acquiring an additional 54,329 shares in the last quarter. Finally, Sylebra Capital LLC lifted its stake in Sunrun by 124.0% during the fourth 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 last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Stock Down 6.0 %

Shares of Sunrun stock traded down $0.42 on Monday, hitting $6.57. 17,188,154 shares of the company's stock traded hands, compared to its average volume of 10,732,512. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The firm's 50-day moving average is $7.61 and its 200 day moving average is $10.74. The stock has a market cap of $1.49 billion, a P/E ratio of -3.61 and a beta of 2.74. Sunrun has a 52-week low of $5.55 and a 52-week high of $22.26.

Analyst Ratings Changes

RUN has been the topic of a number of analyst reports. Roth Capital set a $20.00 price objective on shares of Sunrun in a report on Friday, February 28th. The Goldman Sachs Group decreased their price target on Sunrun from $17.00 to $15.00 and set a "buy" rating for the company in a report on Monday, March 3rd. TD Cowen dropped their price objective on Sunrun from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, February 28th. BMO Capital Markets cut 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. Finally, JPMorgan Chase & Co. decreased their price objective on Sunrun from $22.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $17.20.

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.