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

Sunrun Inc. (NASDAQ:RUN) was the recipient of some unusual options trading activity on Monday. Stock traders purchased 44,675 call options on the company. This represents an increase of 64% compared to the average daily volume of 27,170 call options.

Sunrun Stock Up 5.7%

Shares of NASDAQ:RUN traded up $0.53 during mid-day trading on Wednesday, hitting $9.79. 4,356,830 shares of the company traded hands, compared to its average volume of 9,652,115. The firm’s 50 day simple moving average is $11.65 and its 200 day simple moving average is $13.63. The firm has a market cap of $2.36 billion, a P/E ratio of 6.60 and a beta of 2.36. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.00 and a current ratio of 1.42. Sunrun has a 52-week low of $8.61 and a 52-week high of $22.44.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates 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%.Sunrun’s quarterly revenue was up 52.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 EPS. On average, equities analysts anticipate that Sunrun will post 1.13 EPS for the current year.

Insider Activity

In other news, insider Jeanna Steele sold 9,897 shares of the business’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 $130,541.43. Following the completion of the sale, the insider directly owned 461,715 shares of the company’s stock, valued at $6,090,020.85. The trade was a 2.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $15.92, for a total value of $796,000.00. Following the sale, the director owned 459,091 shares of the company’s stock, valued at approximately $7,308,728.72. The trade was a 9.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 223,045 shares of company stock valued at $2,934,835 in the last ninety days. 3.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunrun

A number of large investors have recently added to or reduced their stakes in the company. Contour Asset Management LLC bought a new stake in shares of Sunrun in the fourth quarter worth $98,010,000. Norges Bank acquired a new position in Sunrun in the fourth quarter valued at approximately $62,169,000. Voloridge Investment Management LLC bought a new position in Sunrun during the 3rd quarter worth $40,193,000. Bank of America Corp DE acquired a new stake in shares of Sunrun in the 2nd quarter worth about $29,953,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Sunrun during the second quarter valued at approximately $18,120,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RUN has been the topic of a number of research reports. Oppenheimer restated an “outperform” rating and issued a $20.00 price objective on shares of Sunrun in a report on Thursday, August 6th. Wells Fargo & Company cut their price target on shares of Sunrun from $22.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, August 14th. Glj Research reaffirmed a “sell” rating and set a $4.63 price target on shares of Sunrun in a research report on Monday. Susquehanna decreased their price objective on shares of Sunrun from $18.00 to $15.00 and set a “positive” rating for the company in a research note on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $17.00 price objective on shares of Sunrun in a research report on Friday, May 8th. Twelve analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.