Sunnova Energy International Sees Unusually High Options Volume (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) was the target of unusually large options trading activity on Thursday. Traders purchased 22,327 call options on the company. This is an increase of approximately 250% compared to the typical volume of 6,383 call options.

Sunnova Energy International Stock Down 5.8 %

Shares of Sunnova Energy International stock opened at $5.72 on Friday. The company has a market cap of $714.20 million, a P/E ratio of -1.71 and a beta of 2.21. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97. Sunnova Energy International has a one year low of $3.37 and a one year high of $16.35. The firm has a fifty day moving average of $8.69 and a two-hundred day moving average of $6.86.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). The firm had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $238.23 million. Sunnova Energy International had a negative return on equity of 11.46% and a negative net margin of 51.02%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.53) EPS. On average, analysts forecast that Sunnova Energy International will post -1.99 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on NOVA. Susquehanna raised their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a research note on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of Sunnova Energy International in a research note on Thursday, October 10th. They issued a “buy” rating and a $15.00 price target on the stock. The Goldman Sachs Group lifted their target price on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted 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 note on Tuesday, August 6th. Finally, Robert W. Baird reduced their target price on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Insiders Place Their Bets

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the transaction, the insider now owns 409,045 shares of the company’s stock, valued at approximately $4,626,298.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

A number of large investors have recently bought and sold shares of the company. First Affirmative Financial Network grew its stake in shares of Sunnova Energy International by 12.9% during the 2nd quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock worth $83,000 after purchasing an additional 1,691 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of Sunnova Energy International by 11.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock worth $189,000 after purchasing an additional 2,016 shares during the period. Ballentine Partners LLC grew its stake in shares of Sunnova Energy International by 15.9% during 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 grew its stake in shares of 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 purchasing an additional 2,992 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Sunnova Energy International by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock worth $315,000 after purchasing an additional 3,559 shares during the period.

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.