Stock Traders Purchase High Volume of Put Options on Sunrun (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) was the target of some unusual options trading on Wednesday. Investors bought 145,234 put options on the stock. This is an increase of approximately 184% compared to the average volume of 51,075 put options.

Sunrun Trading Up 10.8%

Shares of RUN traded up $2.05 during trading hours on Wednesday, hitting $21.11. 7,082,679 shares of the stock traded hands, compared to its average volume of 15,299,330. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70. Sunrun has a 1-year low of $5.38 and a 1-year high of $22.44. The firm has a market capitalization of $4.87 billion, a PE ratio of -1.81 and a beta of 2.41. The business has a fifty day moving average of $18.23 and a 200-day moving average of $12.65.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $1.25. The business had revenue of $569.34 million during the quarter, compared to the consensus estimate of $555.42 million. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 earnings per share. Analysts expect that Sunrun will post -0.43 EPS for the current year.

Insider Buying and Selling

In other Sunrun news, CRO Paul S. Dickson sold 25,614 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $20.00, for a total value of $512,280.00. Following the transaction, the executive owned 655,734 shares of the company’s stock, valued at approximately $13,114,680. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan Ferber sold 10,927 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $11.24, for a total value of $122,819.48. Following the completion of the transaction, the director directly owned 54,947 shares in the company, valued at approximately $617,604.28. This represents a 16.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 266,956 shares of company stock valued at $4,931,665. Insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in shares of Sunrun by 3.5% during the third quarter. GAMMA Investing LLC now owns 17,971 shares of the energy company’s stock worth $311,000 after buying an additional 607 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Sunrun by 5.4% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 18,809 shares of the energy company’s stock worth $325,000 after buying an additional 967 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Sunrun by 6.3% during the second quarter. Osaic Holdings Inc. now owns 22,386 shares of the energy company’s stock worth $183,000 after buying an additional 1,332 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Sunrun by 12.0% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 13,497 shares of the energy company’s stock worth $110,000 after buying an additional 1,442 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Sunrun by 2.3% during the third quarter. Amalgamated Bank now owns 66,229 shares of the energy company’s stock worth $1,145,000 after buying an additional 1,464 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

RUN has been the topic of a number of recent analyst reports. Susquehanna boosted their price objective on Sunrun from $13.00 to $23.00 and gave the stock a “positive” rating in a research note on Monday, October 13th. KeyCorp raised Sunrun from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Sunrun from $11.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, October 1st. The Goldman Sachs Group upped their price target on Sunrun from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, BMO Capital Markets set a $19.00 price target on Sunrun and gave the company a “market perform” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.60.

Sunrun Company Profile

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.