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

Sunrun Inc. (NASDAQ:RUNGet Free Report) was the target of unusually large options trading activity on Monday. Investors purchased 84,659 call options on the company. This is an increase of approximately 374% compared to the typical daily volume of 17,859 call options.

Sunrun Price Performance

RUN traded up $0.26 during trading on Monday, reaching $13.61. 5,178,808 shares of the company were exchanged, compared to its average volume of 9,206,255. The company’s 50-day moving average is $13.61 and its two-hundred day moving average is $16.18. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 6.41 and a beta of 2.32. The company has a quick ratio of 1.09, a current ratio of 1.45 and a debt-to-equity ratio of 3.44. Sunrun has a 12-month low of $5.38 and a 12-month high of $22.44.

Sunrun (NASDAQ:RUNGet Free Report) last released its quarterly earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.67. The firm had revenue of $722.23 million for the quarter, compared to analysts’ expectations of $688.50 million. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The company’s revenue was up 43.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 EPS. Research analysts forecast that Sunrun will post 1.09 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In related news, CEO Mary Powell sold 193,002 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.25, for a total transaction of $2,557,276.50. Following the transaction, the chief executive officer owned 934,282 shares in the company, valued at $12,379,236.50. This represents a 17.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Maria Barak sold 8,039 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $13.67, for a total transaction of $109,893.13. Following the transaction, the chief accounting officer owned 72,963 shares in the company, valued at approximately $997,404.21. The trade was a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 692,786 shares of company stock worth $9,339,291. 3.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunrun

Several institutional investors and hedge funds have recently bought and sold shares of RUN. Farther Finance Advisors LLC boosted its position in shares of Sunrun by 156.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock valued at $27,000 after purchasing an additional 885 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Sunrun in the fourth quarter worth about $27,000. Sycomore Asset Management purchased a new stake in Sunrun in the third quarter worth about $28,000. Hantz Financial Services Inc. increased its position in Sunrun by 59.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after buying an additional 564 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Sunrun in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RUN shares. Citigroup cut their price objective on Sunrun from $26.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Wall Street Zen cut Sunrun from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Weiss Ratings cut Sunrun from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Mizuho cut their price objective on Sunrun from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, March 2nd. Finally, Glj Research reaffirmed a “sell” rating and issued a $4.63 price objective on shares of Sunrun in a research note on Thursday, April 16th. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Sunrun has an average rating of “Hold” and an average target price of $18.48.

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About Sunrun

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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.

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