Traders Buy High Volume of Call Options on Sunrun (NASDAQ:RUN)

Sunrun Inc. (NASDAQ:RUN - Get Free Report) was the target of unusually large options trading on Friday. Stock investors acquired 84,467 call options on the company. This represents an increase of 73% compared to the average daily volume of 48,891 call options.

Sunrun Price Performance

Shares of Sunrun stock traded up $1.53 during trading on Friday, hitting $10.00. 42,796,049 shares of the stock traded hands, compared to its average volume of 12,111,305. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -5.49 and a beta of 2.61. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. Sunrun has a 52 week low of $5.45 and a 52 week high of $22.26. The firm's fifty day moving average is $7.96 and its 200-day moving average is $8.51.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RUN shares. Wall Street Zen cut shares of Sunrun from a "hold" rating to a "sell" rating in a report on Friday, June 6th. BNP Paribas lowered Sunrun from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Jefferies Financial Group lowered Sunrun from a "hold" rating to an "underperform" rating and decreased their price objective for the company from $6.00 to $5.00 in a research note on Wednesday. Susquehanna dropped their price objective on Sunrun from $13.00 to $10.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Finally, Mizuho set a $13.00 target price on Sunrun and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, Sunrun currently has a consensus rating of "Hold" and a consensus price target of $14.06.

Insiders Place Their Bets

In other news, insider Jeanna Steele sold 9,942 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 291,238 shares of the company's stock, valued at $1,962,944.12. This represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Paul S. Dickson sold 19,343 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $130,371.82. Following the transaction, the executive now owns 399,729 shares of the company's stock, valued at approximately $2,694,173.46. The trade was a 4.62% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,993 shares of company stock worth $612,979. 3.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Sunrun by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company's stock worth $219,679,000 after purchasing an additional 343,448 shares during the last quarter. Greenvale Capital LLP increased its holdings in shares of Sunrun by 50.3% in the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after buying an additional 4,516,793 shares during the period. Alyeska Investment Group L.P. increased its holdings in shares of Sunrun by 593.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock worth $111,263,000 after buying an additional 10,294,947 shares during the period. Sylebra Capital LLC lifted its stake in shares of Sunrun by 23.8% in the 1st quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company's stock valued at $48,482,000 after acquiring an additional 1,590,169 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Sunrun by 27.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,621,303 shares of the energy company's stock valued at $61,252,000 after acquiring an additional 1,427,858 shares during the period. Hedge funds and other institutional investors 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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