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

Sunrun Inc. (NASDAQ:RUN) was the target of unusually large options trading on Wednesday. Investors bought 60,054 call options on the stock. This is an increase of approximately 70% compared to the typical daily volume of 35,309 call options.

Insider Transactions at Sunrun

In other news, CFO Danny Abajian sold 2,092 shares of Sunrun stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $14.43, for a total transaction of $30,187.56. Following the completion of the transaction, the chief financial officer now owns 288,448 shares of the company’s stock, valued at approximately $4,162,304.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Danny Abajian sold 2,092 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $14.43, for a total value of $30,187.56. Following the sale, the chief financial officer now owns 288,448 shares of the company’s stock, valued at approximately $4,162,304.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mary Powell sold 1,741 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $14.86, for a total value of $25,871.26. Following the transaction, the chief executive officer now directly owns 589,927 shares of the company’s stock, valued at approximately $8,766,315.22. The disclosure for this sale can be found here. Insiders have sold 255,712 shares of company stock valued at $3,706,261 in the last quarter. 3.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

Large investors have recently modified their holdings of the stock. Fifth Third Bancorp lifted its holdings in shares of Sunrun by 76.9% in the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after purchasing an additional 764 shares in the last quarter. USCF Advisers LLC increased its holdings in shares of Sunrun by 130.0% in the 4th quarter. USCF Advisers LLC now owns 2,300 shares of the energy company’s stock valued at $45,000 after purchasing an additional 1,300 shares during the period. BNP Paribas purchased a new stake in shares of Sunrun in the first quarter worth approximately $37,000. Duncker Streett & Co. Inc. acquired a new stake in shares of Sunrun during the second quarter worth approximately $36,000. Finally, Parallel Advisors LLC grew its position in Sunrun by 91.4% during the fourth quarter. Parallel Advisors LLC now owns 3,168 shares of the energy company’s stock valued at $62,000 after purchasing an additional 1,513 shares in the last quarter. 91.69% of the stock is owned by institutional investors.

Sunrun Price Performance

Shares of RUN traded up $2.50 during midday trading on Wednesday, reaching $18.99. The stock had a trading volume of 15,669,322 shares, compared to its average volume of 13,482,705. The firm’s 50 day moving average price is $14.64 and its 200-day moving average price is $13.24. Sunrun has a 52 week low of $8.43 and a 52 week high of $20.68. The company has a market capitalization of $4.21 billion, a P/E ratio of -2.93 and a beta of 2.61. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.31 and a quick ratio of 0.99.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.81. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The company had revenue of $523.87 million during the quarter, compared to analyst estimates of $516.76 million. During the same quarter last year, the firm posted $0.25 EPS. The business’s revenue for the quarter was down 11.2% on a year-over-year basis. On average, analysts forecast that Sunrun will post -1.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RUN has been the subject of several analyst reports. BMO Capital Markets upped their target price on Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Sunrun from $14.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Evercore ISI cut their price target on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday. Morgan Stanley lifted their price objective on Sunrun from $24.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Finally, Susquehanna lifted their price target on shares of Sunrun from $23.00 to $24.00 and gave the company a “positive” rating in a research report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.52.

About Sunrun

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.