Sunrun Sees Unusually Large Options Volume (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) was the target of some unusual options trading activity on Monday. Investors purchased 44,803 call options on the stock. This represents an increase of approximately 70% compared to the average volume of 26,393 call options.

Sunrun Stock Up 10.3%

Shares of Sunrun stock traded up $0.77 during trading on Monday, hitting $8.25. 15,218,161 shares of the stock were exchanged, compared to its average volume of 9,233,322. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 5.57 and a beta of 2.44. The firm’s 50-day moving average price is $8.12 and its 200 day moving average price is $12.48. Sunrun has a 12-month low of $6.78 and a 12-month high of $21.95. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%. The firm had revenue of $869.99 million during the quarter, compared to the consensus estimate of $746.87 million. During the same period in the prior year, the company posted $1.07 earnings per share. The firm’s quarterly revenue was up 52.8% compared to the same quarter last year. As a group, analysts forecast that Sunrun will post 1.46 earnings per share for the current fiscal year.

Insider Activity at Sunrun

In other Sunrun news, CEO Mary Powell sold 24,335 shares of Sunrun stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $188,839.60. Following the sale, the chief executive officer owned 1,087,200 shares of the company’s stock, valued at $8,436,672. The trade was a 2.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeanna Steele sold 10,042 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total transaction of $77,925.92. Following the completion of the transaction, the insider directly owned 451,673 shares in the company, valued at approximately $3,504,982.48. This represents a 2.17% 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 68,719 shares of company stock worth $533,277 over the last three months. Company insiders own 3.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Leonteq Securities AG raised its stake in shares of Sunrun by 26.8% during the first quarter. Leonteq Securities AG now owns 6,281 shares of the energy company’s stock worth $85,000 after purchasing an additional 1,327 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Sunrun by 3.7% during the second quarter. Van ECK Associates Corp now owns 42,838 shares of the energy company’s stock worth $573,000 after purchasing an additional 1,528 shares during the period. Summit Global Investments grew its position in Sunrun by 8.5% in the 3rd quarter. Summit Global Investments now owns 20,444 shares of the energy company’s stock valued at $159,000 after buying an additional 1,606 shares during the last quarter. Allworth Financial LP purchased a new position in Sunrun in the 2nd quarter valued at $25,000. Finally, Pictet Asset Management Holding SA grew its position in Sunrun by 6.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 37,646 shares of the energy company’s stock valued at $510,000 after buying an additional 2,137 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RUN shares. Jefferies Financial Group reiterated a “hold” rating and set a $7.00 price target on shares of Sunrun in a research report on Friday, October 9th. JPMorgan Chase & Co. decreased their price objective on shares of Sunrun from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Wall Street Zen raised shares of Sunrun from a “sell” rating to a “hold” rating in a research report on Sunday, October 18th. Weiss Ratings raised shares of Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $20.00 target price on shares of Sunrun in a report on Thursday, August 6th. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Sunrun has a consensus rating of “Hold” and a consensus price target of $14.39.

About Sunrun

Sunrun Inc is a residential clean-energy company that designs, sells, installs, owns and maintains home solar energy systems. The company provides rooftop solar panels and related equipment through purchase and financing options, as well as subscription-based solar-as-a-service arrangements under which customers pay for the electricity their systems produce.

Sunrun also offers home energy storage through its Brightbox battery product. These systems can store solar-generated electricity for use when solar production is unavailable and may provide backup power during grid outages.