Sunrun Sees Unusually Large Options Volume (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) saw some unusual options trading on Monday. Investors bought 84,659 call options on the company. This is an increase of 374% compared to the typical volume of 17,859 call options.

Insider Activity at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $14.07, for a total transaction of $703,500.00. Following the sale, the director directly owned 557,947 shares in the company, valued at $7,850,314.29. This represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Paul S. Dickson sold 127,673 shares of the 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 $1,691,667.25. Following the completion of the sale, the executive owned 707,126 shares in the company, valued at approximately $9,369,419.50. The trade was a 15.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 692,786 shares of company stock valued at $9,339,291 in the last 90 days. 3.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently made changes to their positions in RUN. Salomon & Ludwin LLC raised its holdings in Sunrun by 49.2% during the fourth quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company’s stock worth $31,000 after purchasing an additional 558 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Sunrun by 59.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after purchasing an additional 564 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Sunrun by 3.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 17,481 shares of the energy company’s stock worth $322,000 after acquiring an additional 565 shares during the last quarter. Sage Rhino Capital LLC boosted its position in Sunrun by 5.2% during the fourth quarter. Sage Rhino Capital LLC now owns 11,468 shares of the energy company’s stock worth $211,000 after acquiring an additional 572 shares during the last quarter. Finally, Crestwood Advisors Group LLC boosted its position in Sunrun by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 35,158 shares of the energy company’s stock worth $608,000 after acquiring an additional 644 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on RUN shares. TD Cowen dropped their target price on Sunrun from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Susquehanna lowered their price objective on Sunrun from $24.00 to $19.00 and set a “positive” rating for the company in a research report on Thursday, April 9th. Glj Research reissued a “sell” rating and issued a $4.63 price objective on shares of Sunrun in a research report on Thursday, April 16th. Zacks Research cut Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $18.00 target price on shares of Sunrun in a research note on Thursday, May 7th. Twelve equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.48.

Sunrun Trading Up 2.0%

RUN traded up $0.26 during trading hours on Monday, reaching $13.61. The company’s stock had a trading volume of 5,178,808 shares, compared to its average volume of 9,206,255. Sunrun has a fifty-two week low of $5.38 and a fifty-two week high of $22.44. The stock has a market cap of $3.25 billion, a PE ratio of 6.41 and a beta of 2.32. The business’s 50-day moving average is $13.61 and its 200-day moving average is $16.18. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.45 and a quick ratio of 1.09.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, May 6th. The energy company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.67. The firm had revenue of $722.23 million for the quarter, compared to analysts’ expectations of $688.50 million. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The firm’s quarterly revenue was up 43.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 earnings per share. As a group, equities research analysts predict that Sunrun will post 1.09 earnings per share 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.