Investors Buy Large Volume of Sunrun Call Options (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) was the recipient of some unusual options trading activity on Monday. Traders acquired 74,435 call options on the stock. This represents an increase of 211% compared to the average daily volume of 23,896 call options.

Insider Activity

In other news, CEO Mary Powell sold 23,985 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were 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 directly owned 1,111,535 shares of the company’s stock, valued at $14,661,146.65. This trade represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul S. Dickson sold 15,613 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.18, for a total transaction of $205,779.34. Following the transaction, the executive directly owned 839,539 shares of the company’s stock, valued at approximately $11,065,124.02. This trade represents a 1.83% 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. Insiders sold a total of 223,045 shares of company stock worth $3,081,335 in the last three months. Company insiders own 3.55% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position 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 buying an additional 165,196 shares during the period. Invesco Ltd. grew its holdings in Sunrun by 26.6% in the 4th quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock valued at $107,975,000 after buying an additional 1,231,628 shares during the period. Geode Capital Management LLC grew its holdings in Sunrun by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 5,663,239 shares of the energy company’s stock valued at $104,220,000 after buying an additional 205,627 shares during the period. Contour Asset Management LLC acquired a new position in shares of Sunrun during the 4th quarter valued at about $98,010,000. Finally, Voloridge Investment Management LLC increased its stake in shares of Sunrun by 47.3% during the 4th quarter. Voloridge Investment Management LLC now owns 3,425,297 shares of the energy company’s stock valued at $63,025,000 after acquiring an additional 1,100,666 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on RUN. Susquehanna lowered their target price on Sunrun from $19.00 to $18.00 and set a “positive” rating on the stock in a report on Friday, July 10th. TD Cowen reduced their price objective on Sunrun from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. UBS Group reduced their price objective on Sunrun from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $17.00 price objective on shares of Sunrun in a research note on Friday, May 8th. Finally, Zacks Research cut Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Twelve investment 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.81.

Sunrun Stock Down 3.5%

Shares of NASDAQ RUN opened at $9.63 on Wednesday. Sunrun has a 1 year low of $9.01 and a 1 year high of $22.44. The firm’s 50 day moving average price is $13.06 and its 200 day moving average price is $14.56. The firm has a market cap of $2.30 billion, a P/E ratio of 4.52 and a beta of 2.32. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, May 6th. The energy company reported $0.62 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.67. The firm had revenue of $722.23 million during the quarter, compared to analysts’ expectations of $688.50 million. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. Sunrun’s revenue for the quarter was up 43.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 EPS. As a group, sell-side analysts anticipate that Sunrun will post 1.01 earnings per share for the current year.

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.