Sunrun Target of Unusually High Options Trading (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) saw unusually large options trading activity on Monday. Investors purchased 44,675 call options on the company. This represents an increase of 64% compared to the average volume of 27,170 call options.

Insider Buying and Selling at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were 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. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mary Powell sold 23,985 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $316,362.15. Following the sale, the chief executive officer owned 1,111,535 shares of the company’s stock, valued at $14,661,146.65. The trade was a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 223,045 shares of company stock valued at $2,934,835 over the last three months. Insiders own 3.55% of the company’s stock.

Institutional Trading of Sunrun

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Sunrun by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock valued at $88,375,000 after acquiring an additional 165,196 shares during the period. Invesco Ltd. raised its holdings in shares of Sunrun by 26.6% in the 4th quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock valued at $107,975,000 after purchasing an additional 1,231,628 shares during the period. Geode Capital Management LLC lifted its stake in Sunrun by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock valued at $104,220,000 after purchasing an additional 205,627 shares during the last quarter. Contour Asset Management LLC acquired a new stake in Sunrun in the 4th quarter valued at about $98,010,000. Finally, Voloridge Investment Management LLC grew its holdings in Sunrun by 47.3% during the fourth quarter. Voloridge Investment Management LLC now owns 3,425,297 shares of the energy company’s stock worth $63,025,000 after purchasing an additional 1,100,666 shares during the period. 91.69% of the stock is owned by institutional investors.

Sunrun Stock Down 1.1%

Shares of NASDAQ:RUN traded down $0.12 during midday trading on Monday, reaching $10.07. The company had a trading volume of 1,703,913 shares, compared to its average volume of 9,653,833. Sunrun has a 1-year low of $8.61 and a 1-year high of $22.44. The stock has a market cap of $2.43 billion, a PE ratio of 6.81 and a beta of 2.36. 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 business’s 50 day moving average price is $11.79 and its 200 day moving average price is $13.79.

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

Analysts Set New Price Targets

A number of research firms have recently commented on RUN. Citigroup dropped their price target on Sunrun from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Wells Fargo & Company lowered their target price on Sunrun from $22.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday. Oppenheimer restated an “outperform” rating and set a $20.00 target price on shares of Sunrun in a report on Thursday, August 6th. Royal Bank Of Canada cut their price target on shares of Sunrun from $18.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Finally, Roth Capital reiterated a “buy” rating on shares of Sunrun in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Sunrun has an average rating of “Hold” and an average price target of $16.81.

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.