Stock Traders Purchase High Volume of Sunrun Call Options (NASDAQ:RUN)

Key Points

• Sunrun Inc. experienced a significant increase in call options trading with 101,039 contracts purchased, representing a 47% rise compared to the average volume.
• Insiders, including CEO Mary Powell, recently sold shares of Sunrun stock, totaling 41,939 shares worth $430,264 in the last quarter, reducing their ownership to 3.37% of the company.
• Institutional investors are actively investing in Sunrun, with recent purchases totaling over $9 million in new stakes from notable firms such as Connor Clark & Lunn Investment Management Ltd.

Sunrun Inc. (NASDAQ:RUN - Get Free Report) was the target of some unusual options trading activity on Thursday. Traders purchased 101,039 call options on the stock. Thisisanincreaseofapproximately47% compared to the typical volume of 68,700 call options.

Insiders Place Their Bets

In other Sunrun news, CEO Mary Powell sold 11,509 shares of Sunrun stock in a transaction on Monday, July 7th. The shares were sold at an average price of $10.80, for a total transaction of $124,297.20. Following the transaction, the chief executive officer directly owned 893,240 shares of the company's stock, valued at $9,646,992. The trade was a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeanna Steele sold 3,668 shares of Sunrun stock in a transaction on Monday, July 7th. The stock was sold at an average price of $10.80, for a total value of $39,614.40. Following the sale, the insider owned 439,620 shares in the company, valued at $4,747,896. The trade was a 0.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,939 shares of company stock worth $430,264 in the last quarter. Insiders own 3.37% of the company's stock.

Hedge Funds Weigh In On Sunrun

A number of institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Sunrun during the 2nd quarter worth about $9,668,000. AGF Management Ltd. acquired a new stake in shares of Sunrun in the 2nd quarter worth approximately $3,458,000. Penserra Capital Management LLC grew its holdings in shares of Sunrun by 263.7% in the 2nd quarter. Penserra Capital Management LLC now owns 16,514 shares of the energy company's stock worth $135,000 after acquiring an additional 11,973 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Sunrun by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,381,123 shares of the energy company's stock worth $11,298,000 after acquiring an additional 4,909 shares during the period. Finally, Spire Wealth Management grew its holdings in Sunrun by 960.0% during the 2nd quarter. Spire Wealth Management now owns 5,300 shares of the energy company's stock valued at $43,000 after buying an additional 4,800 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

Sunrun Stock Performance

Shares of RUN stock traded up $2.75 during trading hours on Thursday, reaching $11.82. 36,931,586 shares of the company traded hands, compared to its average volume of 16,766,842. Sunrun has a 12-month low of $5.38 and a 12-month high of $22.26. The company has a debt-to-equity ratio of 3.89, a current ratio of 1.32 and a quick ratio of 0.99. The company has a market cap of $2.70 billion, a P/E ratio of -0.97 and a beta of 2.37. The firm has a 50-day moving average price of $9.08 and a 200 day moving average price of $8.25.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $1.25. The business had revenue of $569.34 million for the quarter, compared to the consensus estimate of $555.42 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 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. As a group, sell-side analysts predict that Sunrun will post -0.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RUN. Wells Fargo & Company cut their price objective on Sunrun from $10.00 to $8.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. BNP Paribas raised Sunrun from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 7th. Royal Bank Of Canada lowered Sunrun from an "outperform" rating to a "sector perform" rating and cut their target price for the stock from $12.00 to $5.00 in a research note on Wednesday, June 18th. Wall Street Zen raised Sunrun from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Glj Research lowered Sunrun from a "hold" rating to a "sell" rating in a research note on Tuesday, June 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $14.64.

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.

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