Investors Purchase High Volume of Call Options on Sunrun (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN) saw unusually large options trading activity on Thursday. Traders purchased 94,295 call options on the company. This is an increase of 48% compared to the average daily volume of 63,627 call options.

Sunrun Stock Performance

Sunrun stock opened at $10.44 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.32 and a debt-to-equity ratio of 3.89. The company has a market capitalization of $2.39 billion, a P/E ratio of -0.86 and a beta of 2.60. The stock’s 50 day moving average is $8.40 and its 200 day moving average is $8.19. Sunrun has a twelve month low of $5.38 and a twelve month high of $22.26.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.42. The business had revenue of $504.27 million for the quarter, compared to the consensus estimate of $487.29 million. Sunrun had a positive return on equity of 9.42% and a negative net margin of 129.97%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted ($0.40) EPS. On average, equities research analysts predict that Sunrun will post -0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. BNP Paribas Exane downgraded Sunrun from an “outperform” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Thursday, May 22nd. Wells Fargo & Company lowered their price target on Sunrun from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, June 25th. KeyCorp reaffirmed an “underweight” rating and issued a $6.00 price target on shares of Sunrun in a report on Tuesday, June 17th. Susquehanna lowered their price target on Sunrun from $13.00 to $10.00 and set a “positive” rating for the company in a report on Monday, April 14th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $6.00 price target (down from $9.00) on shares of Sunrun in a report on Wednesday, April 16th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.26.

Insider Activity at Sunrun

In related news, CEO Mary Powell sold 31,197 shares of Sunrun stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $210,267.78. Following the sale, the chief executive officer owned 534,615 shares of the company’s stock, valued at approximately $3,603,305.10. This trade represents a 5.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward Harris Fenster purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average cost of $10.87 per share, for a total transaction of $543,500.00. Following the purchase, the director directly owned 1,408,182 shares in the company, valued at $15,306,938.34. This trade represents a 3.68% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 88,993 shares of company stock worth $612,979 in the last ninety days. 3.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RUN. Vanguard Group Inc. increased its position in shares of Sunrun by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company’s stock worth $219,679,000 after purchasing an additional 343,448 shares in the last quarter. Greenvale Capital LLP increased its position in shares of Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock worth $124,875,000 after purchasing an additional 4,516,793 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of Sunrun by 593.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock valued at $111,263,000 after buying an additional 10,294,947 shares during the last quarter. Sylebra Capital LLC increased its position in shares of Sunrun by 23.8% in the 1st quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company’s stock valued at $48,482,000 after acquiring an additional 1,590,169 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Sunrun by 27.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,621,303 shares of the energy company’s stock valued at $61,252,000 after acquiring an additional 1,427,858 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.