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

Sunnova Energy International Inc. (NYSE:NOVA) was the target of unusually large options trading activity on Monday. Traders acquired 33,668 put options on the stock. This is an increase of approximately 225% compared to the typical daily volume of 10,351 put options.

Institutional Trading of Sunnova Energy International

A number of large investors have recently bought and sold shares of the business. Sylebra Capital LLC increased its stake in Sunnova Energy International by 125.6% during the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after purchasing an additional 6,926,399 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of Sunnova Energy International during the 3rd quarter worth approximately $76,550,000. Invesco Ltd. grew its stake in shares of Sunnova Energy International by 55.2% during the 4th quarter. Invesco Ltd. now owns 6,082,399 shares of the company’s stock worth $20,863,000 after acquiring an additional 2,162,379 shares in the last quarter. Amundi grew its stake in shares of Sunnova Energy International by 11.2% during the 4th quarter. Amundi now owns 4,385,286 shares of the company’s stock worth $14,988,000 after acquiring an additional 441,232 shares in the last quarter. Finally, Electron Capital Partners LLC grew its stake in shares of Sunnova Energy International by 1.0% during the 4th quarter. Electron Capital Partners LLC now owns 3,447,218 shares of the company’s stock worth $11,824,000 after acquiring an additional 35,233 shares in the last quarter.

Wall Street Analysts Forecast Growth

NOVA has been the topic of a number of research analyst reports. Robert W. Baird reissued a “neutral” rating and set a $2.00 price objective (down previously from $9.00) on shares of Sunnova Energy International in a report on Monday. JPMorgan Chase & Co. lowered shares of Sunnova Energy International from an “overweight” rating to a “neutral” rating in a report on Monday. Wolfe Research lowered shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company cut their target price on shares of Sunnova Energy International from $8.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Finally, Morgan Stanley cut their target price on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.72.

Sunnova Energy International Stock Down 56.4 %

NYSE NOVA traded down $0.94 during trading hours on Monday, reaching $0.72. 78,087,125 shares of the company’s stock were exchanged, compared to its average volume of 11,363,836. The company’s 50-day moving average is $2.89 and its two-hundred day moving average is $5.63. Sunnova Energy International has a one year low of $0.48 and a one year high of $13.00. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $90.34 million, a price-to-earnings ratio of -0.22 and a beta of 2.28.

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.