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

Sunrun Inc (NASDAQ:RUN) was the target of some unusual options trading activity on Tuesday. Traders acquired 6,027 put options on the company. This is an increase of approximately 3,007% compared to the average daily volume of 194 put options.

Shares of RUN stock opened at $15.93 on Thursday. Sunrun has a one year low of $8.81 and a one year high of $21.42. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.69 and a current ratio of 0.83. The company has a 50 day moving average price of $16.42 and a 200 day moving average price of $16.88. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 69.26, a price-to-earnings-growth ratio of 7.03 and a beta of 0.76.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, August 7th. The energy company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.18). Sunrun had a negative return on equity of 1.89% and a negative net margin of 2.84%. The business had revenue of $204.60 million for the quarter, compared to analysts’ expectations of $198.78 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. Sunrun’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, equities analysts forecast that Sunrun will post 0.49 EPS for the current fiscal year.

Several brokerages recently commented on RUN. KeyCorp began coverage on shares of Sunrun in a research report on Monday, August 19th. They set an “overweight” rating and a $19.00 price target for the company. JMP Securities set a $26.00 price target on shares of Sunrun and gave the stock a “buy” rating in a research report on Friday, October 11th. BidaskClub raised shares of Sunrun from a “hold” rating to a “buy” rating in a research report on Tuesday, September 17th. Zacks Investment Research lowered shares of Sunrun from a “hold” rating to a “strong sell” rating in a research report on Saturday, October 19th. Finally, Credit Suisse Group set a $26.00 price target on shares of Sunrun and gave the stock a “buy” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $22.19.

In related news, major shareholder Tiger Global Management Llc purchased 728,798 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $15.52 per share, with a total value of $11,310,944.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Global Long Opportunitie Tiger purchased 46,515 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average cost of $18.25 per share, with a total value of $848,898.75. The disclosure for this purchase can be found here. In the last three months, insiders bought 5,901,706 shares of company stock valued at $93,209,033 and sold 27,422 shares valued at $478,599. Insiders own 9.34% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RUN. BSW Wealth Partners purchased a new stake in Sunrun during the second quarter worth approximately $114,000. Hershey Trust Co. purchased a new stake in Sunrun during the second quarter worth approximately $126,000. Gilman Hill Asset Management LLC grew its stake in Sunrun by 30.0% during the third quarter. Gilman Hill Asset Management LLC now owns 13,000 shares of the energy company’s stock worth $217,000 after buying an additional 3,000 shares during the period. Commonwealth Equity Services LLC purchased a new stake in Sunrun during the second quarter worth approximately $224,000. Finally, Bank of Montreal Can grew its stake in Sunrun by 301.5% during the second quarter. Bank of Montreal Can now owns 12,977 shares of the energy company’s stock worth $243,000 after buying an additional 9,745 shares during the period. Institutional investors own 83.27% of the company’s stock.

About Sunrun

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.

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