Investors Buy Large Volume of Call Options on Sunrun (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) was the recipient of unusually large options trading on Monday. Stock investors bought 62,988 call options on the stock. This is an increase of 62% compared to the typical volume of 38,869 call options.

Sunrun Stock Performance

RUN stock opened at $19.42 on Wednesday. The company has a debt-to-equity ratio of 3.67, a current ratio of 1.46 and a quick ratio of 1.06. The company has a 50 day moving average price of $19.06 and a 200 day moving average price of $15.17. Sunrun has a fifty-two week low of $5.38 and a fifty-two week high of $22.44. The stock has a market capitalization of $4.51 billion, a PE ratio of -1.74 and a beta of 2.35.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Thursday, November 6th. The energy company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The firm had revenue of $724.56 million for the quarter, compared to analyst estimates of $601.15 million. Sunrun had a positive return on equity of 19.34% and a negative net margin of 106.50%.The business’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same period last year, the company earned ($0.37) EPS. Analysts forecast that Sunrun will post -0.43 EPS for the current year.

Insider Transactions at Sunrun

In other news, insider Jeanna Steele sold 1,870 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $17.80, for a total value of $33,286.00. Following the completion of the transaction, the insider owned 359,919 shares in the company, valued at approximately $6,406,558.20. This represents a 0.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Danny Abajian sold 2,007 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $17.79, for a total transaction of $35,704.53. Following the transaction, the chief financial officer directly owned 414,699 shares of the company’s stock, valued at $7,377,495.21. The trade was a 0.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 445,536 shares of company stock worth $8,579,156. 3.37% of the stock is currently owned by company insiders.

Institutional Trading of Sunrun

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sycomore Asset Management bought a new position in shares of Sunrun in the 3rd quarter valued at about $28,000. Optiver Holding B.V. bought a new position in Sunrun in the third quarter valued at approximately $31,000. Advisory Services Network LLC acquired a new stake in Sunrun during the 3rd quarter worth $38,000. Resources Management Corp CT ADV grew its holdings in Sunrun by 1,085.3% during the 3rd quarter. Resources Management Corp CT ADV now owns 2,252 shares of the energy company’s stock worth $39,000 after acquiring an additional 2,062 shares during the period. Finally, Federated Hermes Inc. bought a new stake in shares of Sunrun during the 3rd quarter valued at $49,000. 91.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RUN has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Sunrun in a report on Wednesday, October 8th. BMO Capital Markets set a $19.00 price objective on shares of Sunrun and gave the stock a “market perform” rating in a report on Wednesday, October 15th. Morgan Stanley boosted their target price on Sunrun from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sunrun in a report on Wednesday, December 17th. Finally, Oppenheimer lifted their price objective on Sunrun from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Sunrun has a consensus rating of “Moderate Buy” and a consensus target price of $19.58.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.