Traders Buy Large Volume of Call Options on Sunnova Energy International (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) was the recipient of some unusual options trading on Thursday. Stock investors purchased 22,327 call options on the company. This is an increase of 250% compared to the typical volume of 6,383 call options.

Sunnova Energy International Stock Performance

NYSE:NOVA opened at $6.07 on Friday. The firm has a 50 day moving average of $8.80 and a 200-day moving average of $6.85. Sunnova Energy International has a 1 year low of $3.37 and a 1 year high of $16.35. The stock has a market capitalization of $757.92 million, a P/E ratio of -2.09 and a beta of 2.21. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11.

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 during the quarter, compared to the consensus estimate of $238.23 million. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 8.85%. Sunnova Energy International’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.53) EPS. As a group, sell-side analysts anticipate that Sunnova Energy International will post -1.99 EPS for the current fiscal year.

Insider Activity

In related news, insider William J. Berger sold 77,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the completion of the sale, the insider now directly owns 409,045 shares of the company’s stock, valued at $4,626,298.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is owned by insiders.

Institutional Trading of Sunnova Energy International

Several institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC raised its stake in Sunnova Energy International by 37,400.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after buying an additional 2,992 shares during the period. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 7,709 shares during the period. Peoples Bank KS acquired a new stake in shares of Sunnova Energy International in the 2nd quarter valued at about $56,000. Caxton Associates LP bought a new stake in Sunnova Energy International in the 1st quarter valued at approximately $62,000. Finally, First Trust Direct Indexing L.P. acquired a new position in Sunnova Energy International during the first quarter worth $66,000.

Analysts Set New Price Targets

NOVA has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Barclays cut 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 report on Wednesday, October 16th. Jefferies Financial Group began coverage on Sunnova Energy International in a research note on Thursday, October 10th. They issued a “buy” rating and a $15.00 price objective on the stock. Susquehanna upped their price target on Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Sunnova Energy International from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.11.

About Sunnova Energy International

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.