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

Sunrun Inc. (NASDAQ:RUN) was the target of unusually large options trading on Monday. Stock traders purchased 44,675 call options on the stock. This is an increase of approximately 64% compared to the typical volume of 27,170 call options.

Insiders Place Their Bets

In other Sunrun news, CAO Maria Barak sold 3,278 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $12.17, for a total transaction of $39,893.26. Following the completion of the transaction, the chief accounting officer owned 90,033 shares of the company’s stock, valued at approximately $1,095,701.61. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $9.96, for a total transaction of $498,000.00. Following the completion of the sale, the director directly owned 367,405 shares of the company’s stock, valued at $3,659,353.80. The trade was a 11.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 223,045 shares of company stock worth $2,934,835. 3.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RUN. Dimensional Fund Advisors LP raised its stake 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 acquiring an additional 165,196 shares during the period. Invesco Ltd. lifted its holdings in Sunrun by 26.6% in the fourth quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock worth $107,975,000 after acquiring an additional 1,231,628 shares during the last quarter. Geode Capital Management LLC boosted its stake in Sunrun by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock valued at $104,220,000 after acquiring an additional 205,627 shares during the period. Contour Asset Management LLC acquired a new position in Sunrun in the fourth quarter valued at approximately $98,010,000. Finally, Voloridge Investment Management LLC grew its holdings in shares of Sunrun by 47.3% during the fourth quarter. Voloridge Investment Management LLC now owns 3,425,297 shares of the energy company’s stock valued at $63,025,000 after purchasing an additional 1,100,666 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wall Street Zen raised shares of Sunrun from a “sell” rating to a “hold” rating in a research report on Saturday. Royal Bank Of Canada decreased their price objective on shares of Sunrun from $18.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Zacks Research lowered shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Oppenheimer reissued an “outperform” rating and issued a $20.00 target price on shares of Sunrun in a research note on Thursday, August 6th. Finally, Barclays reduced their target price on shares of Sunrun from $23.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $16.81.

Sunrun Stock Performance

Shares of RUN opened at $9.83 on Tuesday. Sunrun has a 52-week low of $8.61 and a 52-week high of $22.44. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 6.64 and a beta of 2.36. The business’s 50 day moving average is $11.71 and its two-hundred day moving average is $13.71.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.19. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The company had revenue of $869.99 million during the quarter, compared to analyst estimates of $746.87 million. During the same period last year, the business earned $1.07 EPS. The firm’s revenue for the quarter was up 52.8% compared to the same quarter last year. Analysts forecast that Sunrun will post 1.13 EPS for the current fiscal year.

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.