Traders Purchase Large Volume of Sunrun Call Options (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) was the recipient of unusually large options trading on Monday. Traders acquired 84,659 call options on the stock. This represents an increase of approximately 374% compared to the typical volume of 17,859 call options.

Sunrun Stock Down 6.4%

RUN opened at $12.60 on Wednesday. The business’s fifty day moving average is $13.63 and its two-hundred day moving average is $16.09. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 5.92 and a beta of 2.32. Sunrun has a one year low of $5.38 and a one year high of $22.44.

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, May 6th. The energy company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.67. The company had revenue of $722.23 million for the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.Sunrun’s quarterly revenue was up 43.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share. Analysts anticipate that Sunrun will post 1.09 EPS for the current fiscal year.

Insider Activity

In other Sunrun news, CEO Mary Powell sold 193,002 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $13.25, for a total value of $2,557,276.50. Following the completion of the sale, the chief executive officer owned 934,282 shares in the company, valued at approximately $12,379,236.50. The trade was a 17.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Maria Barak sold 8,039 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $13.67, for a total value of $109,893.13. Following the completion of the sale, the chief accounting officer owned 72,963 shares of the company’s stock, valued at approximately $997,404.21. This represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 694,816 shares of company stock valued at $9,366,473 over the last 90 days. Insiders own 3.55% of the company’s stock.

Institutional Trading of Sunrun

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Sunrun by 1.2% during the third quarter. Vanguard Group Inc. now owns 24,193,170 shares of the energy company’s stock worth $418,300,000 after purchasing an additional 288,945 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Sunrun by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock worth $88,375,000 after purchasing an additional 165,196 shares in the last quarter. Invesco Ltd. boosted its position in Sunrun by 26.6% during the fourth quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock worth $107,975,000 after purchasing an additional 1,231,628 shares in the last quarter. Geode Capital Management LLC boosted its position in Sunrun by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock worth $104,220,000 after purchasing an additional 205,627 shares in the last quarter. Finally, Contour Asset Management LLC purchased a new stake in Sunrun during the fourth quarter worth $98,010,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen cut Sunrun from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Citigroup reduced their price objective on Sunrun from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Oppenheimer boosted their price objective on Sunrun from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Susquehanna dropped their target price on Sunrun from $24.00 to $19.00 and set a “positive” rating on the stock in a report on Thursday, April 9th. Finally, Mizuho dropped their target price on Sunrun from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday, March 2nd. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.48.

Sunrun Company Profile

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.