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

Sunrun Inc. (NASDAQ:RUN) was the target of some unusual options trading activity on Wednesday. Traders purchased 47,090 call options on the stock. This represents an increase of 37% compared to the average daily volume of 34,325 call options.

Insider Activity

In other news, insider Jeanna Steele sold 8,187 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $12.11, for a total value of $99,144.57. Following the completion of the transaction, the insider now directly owns 239,724 shares in the company, valued at $2,903,057.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Jeanna Steele sold 8,187 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $12.11, for a total transaction of $99,144.57. Following the completion of the sale, the insider now directly owns 239,724 shares in the company, valued at $2,903,057.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Ferber bought 10,000 shares of Sunrun stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $9.73 per share, with a total value of $97,300.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $97,300. The disclosure for this purchase can be found here. Insiders sold 301,760 shares of company stock worth $3,615,990 over the last three months. Corporate insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Raymond James & Associates increased its position in Sunrun by 45.7% during the third quarter. Raymond James & Associates now owns 126,750 shares of the energy company’s stock worth $1,592,000 after acquiring an additional 39,732 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Sunrun by 10.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 121,293 shares of the energy company’s stock valued at $1,523,000 after buying an additional 11,140 shares during the period. California Public Employees Retirement System increased its holdings in Sunrun by 6.8% in the 3rd quarter. California Public Employees Retirement System now owns 321,480 shares of the energy company’s stock valued at $4,038,000 after buying an additional 20,452 shares during the period. Private Advisor Group LLC increased its holdings in Sunrun by 13.1% in the 3rd quarter. Private Advisor Group LLC now owns 26,147 shares of the energy company’s stock valued at $328,000 after buying an additional 3,033 shares during the period. Finally, Hartline Investment Corp grew its holdings in shares of Sunrun by 34.7% during the 3rd quarter. Hartline Investment Corp now owns 224,020 shares of the energy company’s stock valued at $2,814,000 after purchasing an additional 57,736 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Price Performance

Shares of RUN stock opened at $11.99 on Friday. Sunrun has a 1 year low of $8.43 and a 1 year high of $23.85. The firm’s 50 day moving average is $11.44 and its 200-day moving average is $13.30. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -1.80 and a beta of 2.50. The company has a current ratio of 1.31, a quick ratio of 0.99 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.09. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The business had revenue of $458.20 million for the quarter, compared to analyst estimates of $471.38 million. During the same period in the prior year, the business posted ($1.12) earnings per share. Sunrun’s revenue was down 22.3% compared to the same quarter last year. Sell-side analysts forecast that Sunrun will post -1.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Mizuho cut their target price on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Susquehanna cut their target price on shares of Sunrun from $25.00 to $23.00 and set a “positive” rating for the company in a research report on Thursday, May 9th. Truist Financial restated a “hold” rating and set a $14.00 price target (down previously from $15.00) on shares of Sunrun in a report on Monday, February 26th. Jefferies Financial Group cut their price target on shares of Sunrun from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, The Goldman Sachs Group raised their price target on shares of Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.21.

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.