Sunnova Energy International Target of Unusually High Options Trading (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) saw some unusual options trading on Friday. Stock traders acquired 10,576 call options on the company. This is an increase of approximately 50% compared to the average volume of 7,065 call options.

Sunnova Energy International Stock Performance

NOVA traded up $0.50 on Friday, hitting $8.04. The company had a trading volume of 7,116,913 shares, compared to its average volume of 8,387,569. The company’s fifty day moving average price is $5.72 and its 200 day moving average price is $6.66. Sunnova Energy International has a 1-year low of $3.37 and a 1-year high of $19.56. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market cap of $996.80 million, a price-to-earnings ratio of -2.36 and a beta of 2.19.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.22. The company had revenue of $160.90 million for the quarter, compared to the consensus estimate of $193.78 million. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.70) EPS. Equities analysts predict that Sunnova Energy International will post -1.89 earnings per share for the current fiscal year.

Institutional Trading of Sunnova Energy International

Institutional investors and hedge funds have recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Sunnova Energy International in the 1st quarter valued at $25,000. Manchester Capital Management LLC boosted its stake in Sunnova Energy International by 2,959.7% in the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after buying an additional 1,835 shares in the last quarter. Peoples Bank KS acquired a new stake in Sunnova Energy International in the 2nd quarter valued at $56,000. Caxton Associates LP acquired a new stake in Sunnova Energy International in the 1st quarter valued at $62,000. Finally, First Trust Direct Indexing L.P. acquired a new stake in Sunnova Energy International in the 1st quarter valued at $66,000.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NOVA shares. BMO Capital Markets lowered their price objective on shares of Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday, May 3rd. Morgan Stanley dropped their price target on shares of Sunnova Energy International from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Friday, June 14th. KeyCorp cut shares of Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 23rd. Robert W. Baird decreased their price target on shares of Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, Piper Sandler downgraded Sunnova Energy International from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $9.00 to $4.50 in a report on Tuesday, May 21st. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.04.

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.