Sunrun Sees Unusually Large Options Volume (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) was the target of some unusual options trading on Monday. Stock investors purchased 74,435 call options on the stock. This represents an increase of 211% compared to the typical volume of 23,896 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group restated a “buy” rating and set a $18.00 price objective on shares of Sunrun in a report on Thursday, May 7th. Citigroup reduced their target price on shares of Sunrun from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Glj Research reiterated a “sell” rating and set a $4.63 target price on shares of Sunrun in a report on Friday, July 10th. Susquehanna dropped their price target on Sunrun from $19.00 to $18.00 and set a “positive” rating on the stock in a research note on Friday, July 10th. Finally, Zacks Research lowered Sunrun from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.81.

Sunrun Stock Up 0.4%

Sunrun stock opened at $9.98 on Tuesday. The company has a market cap of $2.38 billion, a P/E ratio of 4.69 and a beta of 2.32. Sunrun has a 1-year low of $9.01 and a 1-year high of $22.44. The company has a fifty day simple moving average of $13.13 and a 200 day simple moving average of $14.62. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 3.44.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.67. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The firm had revenue of $722.23 million for the quarter, compared to analyst estimates of $688.50 million. During the same period in the previous year, the business earned $0.20 EPS. The company’s revenue was up 43.2% compared to the same quarter last year. Research analysts anticipate that Sunrun will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mary Powell sold 23,985 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $316,362.15. Following the completion of the sale, the chief executive officer directly owned 1,111,535 shares of the company’s stock, valued at approximately $14,661,146.65. This represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeanna Steele sold 9,897 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.19, for a total transaction of $130,541.43. Following the sale, the insider owned 461,715 shares in the company, valued at $6,090,020.85. This trade represents a 2.10% 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 223,045 shares of company stock worth $3,081,335 in the last three months. 3.55% of the stock is owned by corporate insiders.

Institutional Trading of Sunrun

Hedge funds and other institutional investors have recently modified their holdings of the stock. Handelsbanken Fonder AB increased its position in shares of Sunrun by 6.7% during the 4th quarter. Handelsbanken Fonder AB now owns 2,314,802 shares of the energy company’s stock worth $42,592,000 after purchasing an additional 145,285 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Sunrun by 33.1% during the 4th quarter. Intech Investment Management LLC now owns 324,632 shares of the energy company’s stock worth $5,973,000 after purchasing an additional 80,695 shares in the last quarter. LBP AM SA acquired a new stake in shares of Sunrun in the 4th quarter valued at approximately $3,307,000. Lingotto Investment Management LLP acquired a new stake in shares of Sunrun in the 4th quarter valued at approximately $4,480,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Sunrun in the fourth quarter valued at $2,760,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.