Investors Buy High Volume of Call Options on Sunnova Energy International (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) was the recipient of unusually large options trading activity on Thursday. Traders bought 21,645 call options on the company. This represents an increase of 128% compared to the average volume of 9,489 call options.

Insider Transactions at Sunnova Energy International

In other news, CFO Eric Michael Williams acquired 13,800 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at $49,680. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Akbar Mohamed bought 50,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were 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 represents a 16.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 118,517 shares of company stock worth $439,605. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

A number of institutional investors have recently modified their holdings of the business. American Century Companies Inc. boosted its position in Sunnova Energy International by 14.2% during the second quarter. American Century Companies Inc. now owns 173,283 shares of the company’s stock worth $967,000 after purchasing an additional 21,492 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Sunnova Energy International during the second quarter worth $78,000. AE Wealth Management LLC acquired a new stake in shares of Sunnova Energy International in the second quarter valued at about $81,000. Sei Investments Co. raised its position in shares of Sunnova Energy International by 9.8% during the 2nd quarter. Sei Investments Co. now owns 68,846 shares of the company’s stock worth $384,000 after purchasing an additional 6,117 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its stake in Sunnova Energy International by 45.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 91,059 shares of the company’s stock valued at $508,000 after buying an additional 28,600 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NOVA. Wolfe Research downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Piper Sandler dropped their price objective on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Susquehanna downgraded shares of Sunnova Energy International from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $14.00 to $4.50 in a report on Friday, January 10th. Jefferies Financial Group started coverage on shares of Sunnova Energy International in a research note on Thursday, October 10th. They set a “buy” rating and a $15.00 price objective for the company. Finally, BMO Capital Markets restated a “market perform” rating and issued a $8.00 target price (down from $10.00) on shares of Sunnova Energy International in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Sunnova Energy International has a consensus rating of “Hold” and a consensus target price of $9.58.

Sunnova Energy International Stock Performance

NOVA traded down $0.23 during midday trading on Thursday, hitting $2.69. 3,984,351 shares of the company were exchanged, compared to its average volume of 8,270,408. The firm has a market capitalization of $335.49 million, a price-to-earnings ratio of -0.80 and a beta of 2.29. The company’s 50 day simple moving average is $4.04 and its 200 day simple moving average is $6.59. 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 has a 1-year low of $2.67 and a 1-year high of $13.00.

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). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. During the same period in the previous year, the firm posted ($0.53) earnings per share. The company’s revenue was up 18.6% compared to the same quarter last year. As a group, sell-side analysts predict that Sunnova Energy International will post -2.57 earnings per share for the current year.

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.