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

Sunrun Inc (NASDAQ:RUN) was the target of unusually large options trading activity on Tuesday. Traders acquired 2,587 put options on the stock. This is an increase of approximately 1,684% compared to the typical daily volume of 145 put options.

In other Sunrun news, CEO Lynn Michelle Jurich sold 131,002 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $20.02, for a total transaction of $2,622,660.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Edward Harris Fenster sold 3,510 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $17.01, for a total transaction of $59,705.10. Following the transaction, the chairman now owns 2,460,681 shares in the company, valued at $41,856,183.81. The disclosure for this sale can be found here. In the last ninety days, insiders bought 2,665,881 shares of company stock worth $48,755,482 and sold 343,397 shares worth $6,606,783. 9.34% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in RUN. Rehmann Capital Advisory Group grew its stake in Sunrun by 363.8% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,789 shares of the energy company’s stock valued at $41,000 after purchasing an additional 2,972 shares during the period. Bank of Montreal Can grew its stake in shares of Sunrun by 1,008.2% during the 4th quarter. Bank of Montreal Can now owns 7,403 shares of the energy company’s stock worth $81,000 after acquiring an additional 6,735 shares during the period. NumerixS Investment Technologies Inc grew its stake in shares of Sunrun by 54.7% during the 4th quarter. NumerixS Investment Technologies Inc now owns 9,900 shares of the energy company’s stock worth $105,000 after acquiring an additional 3,500 shares during the period. Ashfield Capital Partners LLC purchased a new stake in Sunrun during the 1st quarter worth about $154,000. Finally, LPL Financial LLC purchased a new stake in Sunrun during the 4th quarter worth about $121,000. Institutional investors and hedge funds own 81.94% of the company’s stock.

Shares of Sunrun stock traded down $0.41 during midday trading on Thursday, reaching $19.98. The company had a trading volume of 1,709,178 shares, compared to its average volume of 1,285,171. Sunrun has a fifty-two week low of $8.81 and a fifty-two week high of $21.42. The company has a current ratio of 1.37, a quick ratio of 1.15 and a debt-to-equity ratio of 1.64. The stock’s fifty day moving average is $18.11. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 86.87, a PEG ratio of 4.31 and a beta of 0.66.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, May 8th. The energy company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.43). Sunrun had a negative net margin of 1.88% and a negative return on equity of 1.19%. The business had revenue of $194.50 million during the quarter, compared to analyst estimates of $152.90 million. Research analysts forecast that Sunrun will post 0.94 earnings per share for the current fiscal year.

A number of analysts recently weighed in on RUN shares. Zacks Investment Research upgraded shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Friday, July 5th. Goldman Sachs Group raised shares of Solaredge Technologies from a “sell” rating to a “neutral” rating and raised their target price for the company from $35.00 to $52.00 in a research note on Monday, June 17th. Roth Capital reaffirmed a “buy” rating on shares of Resverlogix in a report on Thursday, May 23rd. Barclays reaffirmed a “buy” rating on shares of Netflix in a report on Thursday, May 16th. Finally, BidaskClub raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $20.69.

About Sunrun

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.

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