Sunrun Sees Unusually Large Options Volume (NASDAQ:RUN)

Key Points

• Sunrun options activity surged: Investors purchased 78,935 call options, 184% above the average volume of 27,762 contracts.
• The stock remains under pressure: Shares rose $0.36 to $8.73, near the 12-month low of $8.22 and below both the 50-day and 200-day moving averages.
• Analyst sentiment is mixed: Sunrun has a consensus “Hold” rating and an average price target of $16.81, while recent insider sales included 50,000 shares sold by director Lynn Michelle Jurich.

Sunrun Inc. (NASDAQ:RUN - Get Free Report) saw unusually large options trading on Wednesday. Stock investors bought 78,935 call options on the stock. This is an increase of 184% compared to the average volume of 27,762 call options.

Sunrun Price Performance

NASDAQ RUN traded up $0.36 on Wednesday, reaching $8.73. The company had a trading volume of 2,783,570 shares, compared to its average volume of 9,472,172. The firm's 50 day moving average price is $10.89 and its 200 day moving average price is $12.89. Sunrun has a 12 month low of $8.22 and a 12 month high of $22.44. The stock has a market capitalization of $2.10 billion, a PE ratio of 5.88 and a beta of 2.36. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.19. The business had revenue of $869.99 million during the quarter, compared to analysts' expectations of $746.87 million. Sunrun had a return on equity of 9.59% and a net margin of 11.59%.The firm's revenue for the quarter was up 52.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. As a group, equities analysts predict that Sunrun will post 1.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Glj Research reaffirmed a "sell" rating and set a $4.63 price target on shares of Sunrun in a research report on Monday, August 17th. Zacks Research lowered Sunrun from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 2nd. Weiss Ratings downgraded Sunrun from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, July 28th. Susquehanna reduced their target price on shares of Sunrun from $18.00 to $15.00 and set a "positive" rating for the company in a research note on Friday, August 7th. Finally, Wells Fargo & Company lowered their price target on shares of Sunrun from $22.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, August 14th. Twelve research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $16.81.

Insider Activity

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $9.96, for a total value of $498,000.00. Following the completion of the sale, the director directly owned 367,405 shares of the company's stock, valued at $3,659,353.80. This represents a 11.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Danny Abajian sold 16,495 shares of the company's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $13.19, for a total value of $217,569.05. Following the transaction, the chief financial officer directly owned 420,318 shares in the company, valued at $5,543,994.42. This trade represents a 3.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 173,045 shares of company stock worth $2,138,835. Corporate insiders own 3.55% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. lifted its holdings in Sunrun by 59.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company's stock valued at $28,000 after acquiring an additional 564 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Sunrun by 3.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 17,481 shares of the energy company's stock worth $322,000 after purchasing an additional 565 shares during the period. UMB Bank n.a. increased its holdings in shares of Sunrun by 62.9% during the 4th quarter. UMB Bank n.a. now owns 1,732 shares of the energy company's stock valued at $32,000 after purchasing an additional 669 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of Sunrun by 2.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 33,977 shares of the energy company's stock valued at $625,000 after purchasing an additional 686 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Sunrun by 4.9% in the 4th quarter. Cerity Partners LLC now owns 15,737 shares of the energy company's stock valued at $290,000 after purchasing an additional 736 shares during the period. Institutional investors and hedge funds own 91.69% of the company's stock.

Sunrun Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source