Sunnova Energy International Target of Unusually Large Options Trading (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) was the target of some unusual options trading activity on Thursday. Stock traders acquired 21,645 call options on the stock. This represents an increase of approximately 128% compared to the typical volume of 9,489 call options.

Analyst Ratings Changes

Several analysts have commented on the stock. BMO Capital Markets reiterated a “market perform” rating and set a $8.00 target price (down previously from $10.00) on shares of Sunnova Energy International in a research report on Friday, November 1st. The Goldman Sachs Group lowered their price objective on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. Barclays reduced their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada downgraded shares of Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research note on Monday, December 9th. Finally, BNP Paribas downgraded shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price objective for the company. in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sunnova Energy International currently has a consensus rating of “Hold” and an average target price of $9.64.

Sunnova Energy International Stock Up 10.7 %

Shares of NOVA opened at $3.22 on Friday. Sunnova Energy International has a 12 month low of $2.64 and a 12 month high of $13.00. The firm’s 50 day moving average is $4.04 and its 200-day moving average is $6.59. The stock has a market capitalization of $402.59 million, a PE ratio of -0.96 and a beta of 2.29. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The firm had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The business’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.53) EPS. Equities research analysts forecast that Sunnova Energy International will post -2.57 EPS for the current year.

Insider Activity at Sunnova Energy International

In related news, Director Akbar Mohamed acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $3.64 per share, for a total transaction of $182,000.00. Following the transaction, the director now directly owns 352,654 shares of the company’s stock, valued at approximately $1,283,660.56. This trade represents a 16.52 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Eric Michael Williams acquired 13,800 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average price of $3.60 per share, with a total value of $49,680.00. Following the transaction, the chief financial officer now directly owns 13,800 shares in the company, valued at $49,680. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 118,517 shares of company stock worth $439,605. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Several large investors have recently made changes to their positions in the company. Kempner Capital Management Inc. acquired a new stake in Sunnova Energy International in the fourth quarter valued at approximately $51,000. PFG Investments LLC raised its stake in Sunnova Energy International by 37.0% during the fourth quarter. PFG Investments LLC now owns 18,345 shares of the company’s stock worth $63,000 after buying an additional 4,955 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Sunnova Energy International during the second quarter worth $78,000. AE Wealth Management LLC bought a new stake in Sunnova Energy International in the second quarter valued at $81,000. Finally, GAMMA Investing LLC increased its stake in Sunnova Energy International by 736.3% in the third quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock valued at $85,000 after purchasing an additional 7,709 shares in the last quarter.

Sunnova Energy International Company Profile

Sunnova Energy International Inc engages in the provision of energy as a service in the United States. The company offers electricity, as well as offers operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and solar energy system and energy storage system diagnostics services.