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

Sunrun Inc. (NASDAQ:RUN - Get Free Report) was the target of unusually large options trading on Tuesday. Investors purchased 39,800 put options on the company. This is an increase of 23% compared to the typical daily volume of 32,299 put options.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RUN. Morgan Stanley cut their price target on Sunrun from $35.00 to $27.00 and set an "overweight" rating on the stock in a report on Friday, November 15th. Truist Financial reaffirmed a "hold" rating and issued a $9.00 price target (down previously from $12.00) on shares of Sunrun in a report on Monday, March 3rd. UBS Group dropped their price target on Sunrun from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday. StockNews.com upgraded shares of Sunrun to a "sell" rating in a research report on Friday, December 20th. Finally, Roth Mkm lowered their price objective on shares of Sunrun from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Sunrun has a consensus rating of "Moderate Buy" and an average target price of $17.51.

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Sunrun Stock Performance

Shares of RUN traded up $0.29 during trading hours on Friday, reaching $7.16. 15,127,162 shares of the company traded hands, compared to its average volume of 11,094,926. The stock's fifty day moving average is $9.01 and its 200 day moving average is $12.77. The stock has a market cap of $1.61 billion, a P/E ratio of -3.93 and a beta of 2.59. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. Sunrun has a 1-year low of $5.93 and a 1-year high of $22.26.

Insider Transactions at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $9.42, for a total value of $471,000.00. Following the completion of the transaction, the director now directly owns 1,041,753 shares in the company, valued at approximately $9,813,313.26. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Paul S. Dickson sold 2,968 shares of Sunrun stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $33,182.24. Following the completion of the transaction, the executive now owns 418,492 shares of the company's stock, valued at $4,678,740.56. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 171,466 shares of company stock valued at $1,607,397. 3.77% of the stock is currently owned by insiders.

Institutional Trading of Sunrun

Several large investors have recently added to or reduced their stakes in RUN. Alyeska Investment Group L.P. grew its stake in shares of Sunrun by 593.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock valued at $111,263,000 after purchasing an additional 10,294,947 shares during the last quarter. Greenvale Capital LLP grew its stake in shares of Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock valued at $124,875,000 after purchasing an additional 4,516,793 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Sunrun during the third quarter valued at approximately $76,152,000. Sylebra Capital LLC grew its stake in shares of 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 purchasing an additional 3,699,405 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Sunrun during the fourth quarter valued at approximately $31,022,000. 91.69% of the stock is 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.