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Unusual Put Option Trade in Sunrun Worth $653.16K

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On May 2, 2023 at 10:29:54 ET an unusually large $653.16K block of Put contracts in Sunrun (RUN) was bought, with a strike price of $18.00 / share, expiring in 10 day(s) (on May 12, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 4.98 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in RUN options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 849 funds or institutions reporting positions in Sunrun. This is a decrease of 13 owner(s) or 1.51% in the last quarter. Average portfolio weight of all funds dedicated to RUN is 0.26%, an increase of 1.11%. Total shares owned by institutions increased in the last three months by 4.43% to 210,504K shares. The put/call ratio of RUN is 1.31, indicating a bearish outlook.

Analyst Price Forecast Suggests 85.81% Upside

As of April 24, 2023, the average one-year price target for Sunrun is $38.11. The forecasts range from a low of $12.87 to a high of $68.25. The average price target represents an increase of 85.81% from its latest reported closing price of $20.51.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Sunrun is $2,514MM, an increase of 8.30%. The projected annual non-GAAP EPS is $0.10.

What are Other Shareholders Doing?

ISCV – iShares Morningstar Small-Cap Value ETF holds 52K shares representing 0.02% ownership of the company.

QCLN – First Trust Nasdaq Clean Edge Green Energy Index Fund holds 1,317K shares representing 0.61% ownership of the company. In it’s prior filing, the firm reported owning 1,349K shares, representing a decrease of 2.43%. The firm increased its portfolio allocation in RUN by 11.69% over the last quarter.

SPGM – SPDR(R) Portfolio MSCI Global Stock Market ETF holds 1K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 80.39%. The firm increased its portfolio allocation in RUN by 292.50% over the last quarter.

Duquesne Family Office holds 139K shares representing 0.06% ownership of the company. No change in the last quarter.

GCEPX – Goldman Sachs Clean Energy Income Fund Class P Shares holds 71K shares representing 0.03% ownership of the company. In it’s prior filing, the firm reported owning 68K shares, representing an increase of 4.65%. The firm decreased its portfolio allocation in RUN by 8.04% over the last quarter.

Sunrun Background Information
(This description is provided by the company.)

Sunrun, is the nation’s leading home solar, battery storage, and energy services company. Founded in 2007, Sunrun pioneered home solar service plans to make local clean energy more accessible to everyone for little to no upfront cost. Sunrun’s innovative home battery solution, Brightbox, brings families affordable, resilient, and reliable energy. The company can also manage and share stored solar energy from the batteries to provide benefits to households, utilities, and the electric grid while reducing our reliance on polluting energy sources.

See all Sunrun regulatory filings.

This article originally appeared on Fintel

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