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

Sunrun Inc. (NASDAQ:RUN) was the recipient of unusually large options trading on Monday. Stock traders bought 74,435 call options on the stock. This is an increase of 211% compared to the typical volume of 23,896 call options.

Sunrun Stock Up 0.4%

NASDAQ RUN traded up $0.04 during trading on Monday, hitting $9.98. The company’s stock had a trading volume of 10,851,476 shares, compared to its average volume of 9,686,583. Sunrun has a fifty-two week low of $9.01 and a fifty-two week high of $22.44. The company has a market cap of $2.38 billion, a PE ratio of 4.69 and a beta of 2.32. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.45 and a quick ratio of 1.09. The business’s 50 day simple moving average is $13.20 and its 200-day simple moving average is $14.68.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data 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. The firm had revenue of $722.23 million for the quarter, compared to the consensus estimate of $688.50 million. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The company’s revenue for the quarter was up 43.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 earnings per share. On average, equities analysts anticipate that Sunrun will post 1.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Susquehanna cut their price objective on shares of Sunrun from $19.00 to $18.00 and set a “positive” rating on the stock in a research report on Friday, July 10th. Glj Research reissued a “sell” rating and set a $4.63 target price on shares of Sunrun in a research report on Friday, July 10th. Zacks Research downgraded shares of Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Roth Capital restated a “buy” rating on shares of Sunrun in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $18.00 price target on shares of Sunrun in a report on Thursday, May 7th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.81.

Insider Activity

In other Sunrun news, CFO Danny Abajian sold 16,495 shares of Sunrun stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.19, for a total value of $217,569.05. Following the transaction, the chief financial officer owned 420,318 shares in the company, valued at $5,543,994.42. The trade was a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Mary Powell sold 23,985 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 1,111,535 shares of the company’s stock, valued at $14,661,146.65. This represents a 2.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 223,045 shares of company stock worth $3,081,335 over the last ninety days. 3.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RUN. Salomon & Ludwin LLC raised its holdings in shares of Sunrun by 49.2% in the fourth quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company’s stock worth $31,000 after buying an additional 558 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Sunrun by 59.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after buying an additional 564 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Sunrun by 3.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 17,481 shares of the energy company’s stock valued at $322,000 after buying an additional 565 shares during the last quarter. Sage Rhino Capital LLC grew its holdings in shares of Sunrun by 5.2% during the fourth quarter. Sage Rhino Capital LLC now owns 11,468 shares of the energy company’s stock valued at $211,000 after buying an additional 572 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Sunrun by 62.9% in the 4th quarter. UMB Bank n.a. now owns 1,732 shares of the energy company’s stock valued at $32,000 after acquiring an additional 669 shares during the period. 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.