Sunrun Sees Unusually Large Options Volume (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) was the target of some unusual options trading on Friday. Stock investors purchased 84,467 call options on the stock. This is an increase of approximately 73% compared to the average daily volume of 48,891 call options.

Insider Activity

In other news, CEO Mary Powell sold 31,197 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $210,267.78. Following the sale, the chief executive officer now owns 534,615 shares of the company’s stock, valued at $3,603,305.10. This trade represents a 5.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Danny Abajian sold 16,927 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $114,087.98. Following the sale, the chief financial officer now directly owns 231,279 shares in the company, valued at $1,558,820.46. The trade was a 6.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,993 shares of company stock valued at $612,979 in the last quarter. 3.37% of the stock is currently owned by company insiders.

Institutional Trading of Sunrun

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Focus Partners Wealth raised its holdings in Sunrun by 21.2% in the 1st quarter. Focus Partners Wealth now owns 12,702 shares of the energy company’s stock valued at $74,000 after buying an additional 2,226 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Sunrun by 14.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 760,758 shares of the energy company’s stock valued at $4,458,000 after buying an additional 98,547 shares during the period. United Services Automobile Association purchased a new stake in Sunrun in the 1st quarter valued at about $87,000. Caxton Associates LLP purchased a new stake in Sunrun in the 1st quarter valued at about $2,045,000. Finally, Goldman Sachs Group Inc. raised its holdings in Sunrun by 45.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock valued at $13,518,000 after buying an additional 718,955 shares during the period. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RUN has been the topic of a number of recent analyst reports. TD Cowen decreased their target price on Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Morgan Stanley reiterated an “equal weight” rating and set a $11.00 target price on shares of Sunrun in a research report on Wednesday, April 23rd. Truist Financial reiterated a “hold” rating and set a $6.00 target price (down previously from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Mizuho set a $13.00 target price on Sunrun and gave the company an “outperform” rating in a research report on Monday, June 2nd. Finally, Roth Capital set a $20.00 target price on Sunrun in a research report on Friday, February 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.06.

Sunrun Stock Up 18.1%

NASDAQ RUN opened at $10.00 on Friday. Sunrun has a 52 week low of $5.45 and a 52 week high of $22.26. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The business’s fifty day simple moving average is $8.04 and its 200-day simple moving average is $8.48. The firm has a market cap of $2.28 billion, a PE ratio of -5.49 and a beta of 2.61.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.42. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The business had revenue of $504.27 million for the quarter, compared to analyst estimates of $487.29 million. During the same quarter in the previous year, the firm earned ($0.40) EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that Sunrun will post -0.43 earnings per share for the current year.

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.