Stock Traders Buy High Volume of Put Options on Sunnova Energy International (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report) was the target of some unusual options trading activity on Monday. Investors acquired 33,668 put options on the stock. This is an increase of approximately 225% compared to the average volume of 10,351 put options.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds have recently made changes to their positions in the stock. Creative Planning bought a new stake in shares of Sunnova Energy International in the 3rd quarter valued at about $107,000. International Assets Investment Management LLC increased its holdings in shares of Sunnova Energy International by 37,400.0% during the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company's stock valued at $308,000 after acquiring an additional 2,992 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Sunnova Energy International in the 3rd quarter valued at approximately $260,000. First Trust Direct Indexing L.P. boosted its stake in Sunnova Energy International by 11.6% in 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 in the last quarter. Finally, GSA Capital Partners LLP grew its position in Sunnova Energy International by 28.4% during the 3rd quarter. GSA Capital Partners LLP now owns 130,741 shares of the company's stock worth $1,273,000 after purchasing an additional 28,931 shares during the last quarter.

Wall Street Analysts Forecast Growth

NOVA has been the subject of a number of recent analyst reports. Jefferies Financial Group cut shares of Sunnova Energy International from a "buy" rating to a "hold" rating and dropped their price target for the stock from $9.00 to $2.00 in a research note on Friday, February 7th. Piper Sandler dropped their target price on Sunnova Energy International from $8.00 to $4.50 and set a "neutral" rating for the company in a research report on Friday, November 22nd. Capital One Financial downgraded Sunnova Energy International from an "overweight" rating to an "equal weight" rating in a report on Monday. BNP Paribas lowered Sunnova Energy International from a "neutral" rating to an "underperform" rating and set a $3.50 price target for the company. in a research note on Friday, November 8th. Finally, Susquehanna downgraded Sunnova Energy International from a "positive" rating to a "neutral" rating and cut their price objective for the company from $14.00 to $4.50 in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Sunnova Energy International has a consensus rating of "Hold" and an average price target of $8.72.

Sunnova Energy International Stock Down 64.0 %

Sunnova Energy International stock traded down $1.06 during mid-day trading on Monday, reaching $0.60. 117,995,244 shares of the company were exchanged, compared to its average volume of 12,467,907. 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 firm has a market cap of $74.77 million, a P/E ratio of -0.18 and a beta of 2.28. The business has a fifty day moving average of $2.82 and a 200 day moving average of $5.58. Sunnova Energy International has a 12-month low of $0.48 and a 12-month high of $13.00.

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.