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

Sunrun Inc. (NASDAQ:RUN - Get Free Report) was the target of some unusual options trading activity on Wednesday. Traders acquired 75,118 call options on the stock. This represents an increase of approximately 78% compared to the average volume of 42,189 call options.

Wall Street Analyst Weigh In

A number of analysts recently commented on RUN shares. The Goldman Sachs Group boosted their target price on shares of Sunrun from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Susquehanna dropped their target price on shares of Sunrun from $13.00 to $10.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. BNP Paribas downgraded shares of Sunrun from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Truist Financial reissued a "hold" rating and issued a $6.00 price target (down from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Finally, BMO Capital Markets lowered shares of Sunrun from a "hold" rating to a "strong sell" rating and dropped their price objective for the company from $9.00 to $4.00 in a research note on Thursday, May 22nd. Three 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 MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $14.38.

Insider Activity at Sunrun

In other news, insider Jeanna Steele sold 9,942 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $67,009.08. Following the sale, the insider now owns 291,238 shares of the company's stock, valued at approximately $1,962,944.12. The trade was a 3.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward Harris Fenster bought 50,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average cost of $10.87 per share, for a total transaction of $543,500.00. Following the completion of the acquisition, the director now owns 1,408,182 shares of the company's stock, valued at $15,306,938.34. This trade represents a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 88,540 shares of company stock worth $595,944. 3.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently made changes to their positions in RUN. Aster Capital Management DIFC Ltd bought a new stake in Sunrun in the 4th quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Sunrun by 133.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company's stock worth $32,000 after buying an additional 2,000 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Sunrun in the 4th quarter valued at about $53,000. Union Bancaire Privee UBP SA bought a new stake in Sunrun in the fourth quarter valued at approximately $56,000. Finally, Sterling Capital Management LLC raised its holdings in Sunrun by 807.5% in the 4th quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company's stock valued at $64,000 after acquiring an additional 6,129 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Trading Up 1.5%

RUN traded up $0.10 during midday trading on Thursday, reaching $6.85. 14,731,417 shares of the company were exchanged, compared to its average volume of 11,726,137. The stock has a market capitalization of $1.57 billion, a P/E ratio of -3.76 and a beta of 2.66. Sunrun has a one year low of $5.45 and a one year high of $22.26. The stock's 50-day simple moving average is $7.59 and its 200 day simple moving average is $8.68. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.42. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The business had revenue of $504.27 million during the quarter, compared to analyst estimates of $487.29 million. During the same period in the previous year, the firm earned ($0.40) EPS. Sunrun's quarterly revenue was up 10.1% compared to the same quarter last year. As a group, analysts forecast that Sunrun will post -0.43 earnings per share for the current fiscal year.

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.