Traders Buy Large Volume of Call Options on Sunnova Energy International (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 company. This represents an increase of 128% compared to the average daily volume of 9,489 call options.

Sunnova Energy International Stock Up 0.7 %

Shares of Sunnova Energy International stock opened at $3.23 on Friday. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. Sunnova Energy International has a 52-week low of $2.64 and a 52-week high of $13.00. The company’s 50 day moving average price is $4.02 and its 200-day moving average price is $6.56. The stock has a market capitalization of $404.09 million, a price-to-earnings ratio of -0.97 and a beta of 2.29.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 11.15% and a negative net margin of 51.02%. Sunnova Energy International’s revenue was up 18.6% on a year-over-year basis. During the same period last year, the business earned ($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 other news, CFO Eric Michael Williams purchased 13,800 shares of Sunnova Energy International stock in a transaction dated Monday, November 18th. The stock was purchased at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the transaction, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at approximately $49,680. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Akbar Mohamed purchased 50,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was purchased at an average cost of $3.64 per share, for a total transaction of $182,000.00. Following the acquisition, the director now 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 disclosure for this purchase can be found here. In the last ninety days, insiders acquired 118,517 shares of company stock worth $439,605. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Kempner Capital Management Inc. purchased a new stake in Sunnova Energy International in the 4th quarter worth approximately $51,000. PFG Investments LLC raised its holdings in shares of Sunnova Energy International by 37.0% during the fourth quarter. PFG Investments LLC now owns 18,345 shares of the company’s stock valued at $63,000 after acquiring an additional 4,955 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Sunnova Energy International in 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 boosted its holdings 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 acquiring an additional 7,709 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NOVA shares. The Goldman Sachs Group decreased their target price on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Barclays decreased their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Wells Fargo & Company dropped their target price on shares of Sunnova Energy International from $8.00 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Jefferies Financial Group initiated coverage on shares of Sunnova Energy International in a report on Thursday, October 10th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Piper Sandler dropped their price objective on shares of Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sunnova Energy International currently has an average rating of “Hold” and a consensus price target of $9.64.

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.