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

Sunnova Energy International Inc. (NYSE:NOVA) saw unusually large options trading on Thursday. Traders purchased 21,645 call options on the stock. This is an increase of 128% compared to the average volume of 9,489 call options.

Sunnova Energy International Price Performance

NOVA traded down $0.23 during trading on Thursday, hitting $2.69. 3,984,351 shares of the company traded hands, compared to its average volume of 8,270,408. The company has a market cap of $335.49 million, a PE ratio of -0.80 and a beta of 2.29. Sunnova Energy International has a 1 year low of $2.67 and a 1 year high of $13.00. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The stock’s 50-day simple moving average is $4.04 and its two-hundred day simple moving average is $6.59.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data 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). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The firm had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $238.23 million. During the same period last year, the company earned ($0.53) earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Sunnova Energy International will post -2.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NOVA has been the topic of several recent research reports. Royal Bank of Canada downgraded Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft lowered their price target on Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a research report on Friday, November 1st. Wolfe Research downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Susquehanna downgraded shares of Sunnova Energy International from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $14.00 to $4.50 in a research note on Friday, January 10th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $8.00 price target (down previously from $10.00) on shares of Sunnova Energy International in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.58.

Insider Buying and Selling

In other news, Director Akbar Mohamed acquired 50,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the acquisition, the director now owns 352,654 shares in the company, valued at $1,283,660.56. This trade represents a 16.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Eric Michael Williams bought 13,800 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the acquisition, the chief financial officer now owns 13,800 shares in the company, valued at approximately $49,680. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 118,517 shares of company stock valued at $439,605 over the last ninety days. 4.50% of the stock is owned by insiders.

Institutional Trading of Sunnova Energy International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Trust Direct Indexing L.P. raised its stake in shares of Sunnova Energy International by 11.6% in the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock valued at $189,000 after acquiring an additional 2,016 shares during the period. Ballentine Partners LLC raised its position in Sunnova Energy International by 15.9% in the 3rd quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock worth $210,000 after purchasing an additional 2,956 shares during the period. International Assets Investment Management LLC lifted its stake in Sunnova Energy International by 37,400.0% in the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after purchasing an additional 2,992 shares during the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of Sunnova Energy International by 11.0% during the third quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock valued at $314,000 after buying an additional 3,200 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Sunnova Energy International by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock valued at $315,000 after buying an additional 3,559 shares during the last quarter.

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.