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

Key Points

• On Tuesday, investors purchased a significant volume of 124,469 call options for Sunrun Inc., marking a 52% increase compared to the average volume.
• Sunrun's stock price fell to $16.05, while its shares traded with a volume of 6,914,681, below its average of 16,840,479.
• Analyst upgrades included a lift in price targets, with BNP Paribas Exane moving from "neutral" to "outperform" and setting a price target of $21.00.

Sunrun Inc. (NASDAQ:RUN - Get Free Report) was the target of some unusual options trading on Tuesday. Investors purchased 124,469 call options on the company. Thisrepresentsanincreaseof52% compared to the average volume of 82,048 call options.

Sunrun Price Performance

Shares of Sunrun stock traded down $0.87 on Tuesday, hitting $16.05. The company's stock had a trading volume of 6,914,681 shares, compared to its average volume of 16,840,479. Sunrun has a 1 year low of $5.38 and a 1 year high of $21.77. The firm has a fifty day moving average price of $12.35 and a 200-day moving average price of $9.19. The company has a debt-to-equity ratio of 3.70, a quick ratio of 1.02 and a current ratio of 1.41. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of -1.38 and a beta of 2.21.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its earnings results on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $1.25. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.The business had revenue of $569.34 million for the quarter, compared to analysts' expectations of $555.42 million. During the same period in the previous year, the firm posted $0.55 EPS. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sunrun will post -0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RUN. Wall Street Zen raised Sunrun from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Susquehanna lifted their price target on Sunrun from $12.00 to $13.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. BNP Paribas Exane raised Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 price target for the company in a research report on Monday, July 7th. UBS Group lifted their price target on Sunrun from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Oppenheimer lifted their price target on Sunrun from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $14.63.

Insiders Place Their Bets

In other news, CFO Danny Abajian sold 8,909 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $10.80, for a total value of $96,217.20. Following the completion of the sale, the chief financial officer owned 446,797 shares of the company's stock, valued at $4,825,407.60. This trade represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeanna Steele sold 17,417 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $16.25, for a total value of $283,026.25. Following the completion of the sale, the insider directly owned 422,203 shares of the company's stock, valued at $6,860,798.75. The trade was a 3.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 70,314 shares of company stock worth $910,283. Insiders own 3.37% of the company's stock.

Hedge Funds Weigh In On Sunrun

Several large investors have recently bought and sold shares of the stock. PGGM Investments raised its position in shares of Sunrun by 316.6% during the 2nd quarter. PGGM Investments now owns 7,007,258 shares of the energy company's stock worth $57,319,000 after purchasing an additional 5,325,332 shares during the last quarter. Maple Rock Capital Partners Inc. raised its position in shares of Sunrun by 95.6% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 8,132,648 shares of the energy company's stock worth $66,525,000 after purchasing an additional 3,974,464 shares during the last quarter. Sylebra Capital LLC raised its position in shares of Sunrun by 124.0% during the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock worth $61,819,000 after purchasing an additional 3,699,405 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Sunrun during the 2nd quarter worth approximately $9,668,000. Finally, HRT Financial LP acquired a new position in shares of Sunrun during the 2nd quarter worth approximately $9,416,000. Institutional investors and hedge funds own 91.69% of the company's stock.

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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