Stock Traders Purchase Large Volume of Sunrun Call Options (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) was the recipient of unusually large options trading on Monday. Stock traders acquired 44,803 call options on the company. This is an increase of approximately 70% compared to the typical volume of 26,393 call options.

Insiders Place Their Bets

In other Sunrun news, insider Jeanna Steele sold 10,042 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total value of $77,925.92. Following the completion of the transaction, the insider directly owned 451,673 shares in the company, valued at $3,504,982.48. This represents a 2.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 16,734 shares of the stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $129,855.84. Following the sale, the chief financial officer directly owned 386,532 shares of the company’s stock, valued at approximately $2,999,488.32. This trade represents a 4.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 68,719 shares of company stock worth $533,277. 3.55% of the stock is currently owned by insiders.

Institutional Trading of Sunrun

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Sunrun by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock worth $88,375,000 after acquiring an additional 165,196 shares during the last quarter. Maple Rock Capital Partners Inc. boosted its holdings in shares of Sunrun by 23.1% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 3,694,548 shares of the energy company’s stock worth $49,433,000 after purchasing an additional 692,448 shares during the period. Amundi boosted its holdings in shares of Sunrun by 3.9% in the 2nd quarter. Amundi now owns 3,428,504 shares of the energy company’s stock worth $45,845,000 after purchasing an additional 127,878 shares during the period. Robeco Schweiz AG boosted its holdings in shares of Sunrun by 28.5% in the 3rd quarter. Robeco Schweiz AG now owns 5,478,228 shares of the energy company’s stock worth $42,566,000 after purchasing an additional 1,214,548 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of Sunrun during the 2nd quarter valued at approximately $29,953,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Sunrun Price Performance

Shares of RUN stock traded up $0.41 on Tuesday, reaching $8.65. The company’s stock had a trading volume of 2,121,672 shares, compared to its average volume of 9,204,013. The stock’s fifty day simple moving average is $8.11 and its 200-day simple moving average is $12.43. Sunrun has a 1 year low of $6.78 and a 1 year high of $21.95. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 5.86 and a beta of 2.44. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34.

Sunrun (NASDAQ:RUN) last released 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 net margin of 11.59% and a return on equity of 9.59%. The company had revenue of $869.99 million for the quarter, compared to the consensus estimate of $746.87 million. During the same quarter in the prior year, the firm earned $1.07 earnings per share. Sunrun’s revenue was up 52.8% on a year-over-year basis. Analysts forecast that Sunrun will post 1.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RUN has been the subject of several research analyst reports. Glj Research reaffirmed a “sell” rating and set a $4.63 target price on shares of Sunrun in a research note on Monday, August 17th. Mizuho set a $18.00 price target on shares of Sunrun in a research note on Thursday, August 6th. Wall Street Zen raised shares of Sunrun from a “sell” rating to a “hold” rating in a report on Sunday, October 18th. Susquehanna cut their price objective on Sunrun from $15.00 to $13.00 and set a “positive” rating for the company in a research report on Wednesday, October 14th. Finally, Morgan Stanley cut their price objective on Sunrun from $15.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 14th. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.39.

Sunrun Company Profile

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.