Investors Purchase Large Volume of Sunrun Put Options (NASDAQ:RUN)

Posted by Defense World Staff on Oct 26th, 2023

Sunrun Inc. (NASDAQ:RUN – Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 34,116 put options on the company. This is an increase of approximately 35% compared to the average daily volume of 25,181 put options.

Insider Activity

In other Sunrun news, CEO Mary Powell sold 1,744 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $15.79, for a total value of $27,537.76. Following the completion of the sale, the chief executive officer now owns 410,900 shares in the company, valued at $6,488,111. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Mary Powell sold 1,744 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $15.79, for a total transaction of $27,537.76. Following the sale, the chief executive officer now directly owns 410,900 shares in the company, valued at approximately $6,488,111. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Paul S. Dickson sold 2,476 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $15.15, for a total value of $37,511.40. Following the sale, the executive now directly owns 310,185 shares in the company, valued at $4,699,302.75. The disclosure for this sale can be found here. Insiders sold a total of 19,457 shares of company stock valued at $287,987 in the last 90 days. Company insiders own 3.76% of the company’s stock.

Institutional Investors Weigh In On Sunrun

A number of large investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of Sunrun in the 3rd quarter valued at about $26,000. RFP Financial Group LLC boosted its position in Sunrun by 153.8% in the 2nd quarter. RFP Financial Group LLC now owns 1,650 shares of the energy company’s stock worth $29,000 after purchasing an additional 1,000 shares in the last quarter. Hartree Partners LP acquired a new stake in shares of Sunrun during the 2nd quarter worth approximately $32,000. Hexagon Capital Partners LLC increased its holdings in shares of Sunrun by 69.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 3,345 shares of the energy company’s stock valued at $42,000 after purchasing an additional 1,375 shares in the last quarter. Finally, Belpointe Asset Management LLC lifted its stake in shares of Sunrun by 735.2% in the 1st quarter. Belpointe Asset Management LLC now owns 2,113 shares of the energy company’s stock valued at $43,000 after purchasing an additional 1,860 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Price Performance

NASDAQ RUN opened at $8.85 on Thursday. The firm’s fifty day simple moving average is $12.98 and its two-hundred day simple moving average is $16.62. The firm has a market capitalization of $1.92 billion, a P/E ratio of 23.29 and a beta of 2.35. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 1.25. Sunrun has a 12-month low of $8.43 and a 12-month high of $33.33.

Sunrun (NASDAQ:RUN – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The energy company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.59. The firm had revenue of $590.20 million for the quarter, compared to the consensus estimate of $627.73 million. Sunrun had a net margin of 3.66% and a return on equity of 1.18%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Analysts forecast that Sunrun will post -0.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RUN has been the subject of several recent research reports. Guggenheim lifted their price target on Sunrun from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, September 21st. KeyCorp cut their target price on Sunrun from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, October 5th. Barclays dropped their price objective on shares of Sunrun from $27.00 to $17.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 18th. BNP Paribas began coverage on shares of Sunrun in a research note on Friday, October 20th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, Piper Sandler dropped their price target on shares of Sunrun from $22.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, October 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.55.

Check Out Our Latest Report on Sunrun

Sunrun Company Profile

(Get Free Report)

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.