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

Sunrun Inc. (NASDAQ:RUN) saw unusually large options trading on Wednesday. Stock investors purchased 60,054 call options on the company. This represents an increase of approximately 70% compared to the typical volume of 35,309 call options.

Sunrun Stock Performance

Shares of NASDAQ RUN traded up $2.50 during midday trading on Wednesday, hitting $18.99. The company’s stock had a trading volume of 15,669,322 shares, compared to its average volume of 13,482,705. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of -2.93 and a beta of 2.61. The company has a current ratio of 1.31, a quick ratio of 0.99 and a debt-to-equity ratio of 1.84. The stock has a fifty day moving average price of $14.64 and a 200 day moving average price of $13.24. Sunrun has a one year low of $8.43 and a one year high of $20.68.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, beating the consensus estimate of ($0.26) by $0.81. The company had revenue of $523.87 million during the quarter, compared to analysts’ expectations of $516.76 million. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. Sunrun’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 earnings per share. On average, research analysts forecast that Sunrun will post -1.25 EPS for the current fiscal year.

Insider Transactions at Sunrun

In related news, CEO Mary Powell sold 1,741 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $14.86, for a total value of $25,871.26. Following the transaction, the chief executive officer now directly owns 589,927 shares in the company, valued at $8,766,315.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sunrun news, CEO Mary Powell sold 1,741 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $14.86, for a total transaction of $25,871.26. Following the transaction, the chief executive officer now owns 589,927 shares in the company, valued at approximately $8,766,315.22. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Paul S. Dickson sold 2,486 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $14.43, for a total value of $35,872.98. Following the sale, the executive now owns 447,184 shares of the company’s stock, valued at $6,452,865.12. The disclosure for this sale can be found here. Insiders sold a total of 255,712 shares of company stock worth $3,706,261 over the last quarter. Company insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RUN. Vanguard Group Inc. raised its stake in shares of Sunrun by 14.0% during the first quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock valued at $294,245,000 after acquiring an additional 2,743,148 shares during the last quarter. Norges Bank purchased a new stake in Sunrun in the 4th quarter worth approximately $23,186,000. Greenvale Capital LLP lifted its holdings in Sunrun by 15.3% in the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock worth $162,929,000 after buying an additional 1,100,000 shares during the period. Masters Capital Management LLC purchased a new position in shares of Sunrun during the fourth quarter valued at approximately $19,630,000. Finally, Robeco Schweiz AG increased its stake in shares of Sunrun by 23.5% during the first quarter. Robeco Schweiz AG now owns 4,611,300 shares of the energy company’s stock valued at $60,777,000 after buying an additional 876,000 shares during the period. 91.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RUN has been the subject of several analyst reports. UBS Group raised their target price on Sunrun from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday. Piper Sandler lifted their price objective on Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday. Susquehanna boosted their price target on shares of Sunrun from $23.00 to $24.00 and gave the stock a “positive” rating in a research report on Monday, July 15th. BMO Capital Markets lifted their target price on shares of Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, Mizuho cut their price target on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.52.

Sunrun Company Profile

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.