Unusual Put Option Trade in Sunnova Energy International (NOVA) Worth $327.31K

On March 30, 2023 at 09:46:27 ET an unusually large
$327.31K block of Put contracts in Sunnova Energy International
(NOVA) was sold,
with a strike price of $12.50 / share, expiring in 204 days (on October 20, 2023).
Fintel tracks all large options trades, and the premium spent on this trade was 2.14 sigmas above the mean, placing it in the 99.11 percentile of all recent large trades made in NOVA options.

This trade was first picked up on Fintel’s real time Unusual Option Trades
tool, where unusual option trades are highlighted.

Analyst Price Forecast Suggests 154.55% Upside

As of March 30, 2023,
the average one-year price target for Sunnova Energy International is $35.43.
The forecasts range from a low of $23.23 to a high of $63.00.
The average price target represents an increase of 154.55% from its latest reported closing price of $13.92.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Sunnova Energy International
is $707MM, an increase of 26.70%.

The projected annual non-GAAP EPS
is -$1.26.

What is the Fund Sentiment?

There are 510 funds or institutions reporting positions in Sunnova Energy International.

This is a decrease
of
2
owner(s) or 0.39% in the last quarter.

Average portfolio weight of all funds dedicated to NOVA is 0.24%,
a decrease
of 17.55%.

Total shares owned by institutions decreased
in the last three months by 1.45% to 136,302K shares.

The put/call ratio of NOVA is 1.65, indicating a

bearish
outlook.

What are Large Shareholders Doing?

BNP Paribas Asset Management Holding
holds 12,128K shares

representing 10.55% ownership of the company.

In it’s prior filing, the firm reported owning 10,148K shares, representing
an increase
of 16.32%.

The firm

decreased

its portfolio allocation in NOVA by 11.44% over the last quarter.

ECP ControlCo
holds 6,912K shares

representing 6.01% ownership of the company.

No change in the last quarter.

Newlight Partners
holds 6,506K shares

representing 5.66% ownership of the company.

No change in the last quarter.

Handelsbanken Fonder AB
holds 5,319K shares

representing 4.63% ownership of the company.

In it’s prior filing, the firm reported owning 5,137K shares, representing
an increase
of 3.42%.

The firm

decreased

its portfolio allocation in NOVA by 20.84% over the last quarter.

Amundi
holds 4,323K shares

representing 3.76% ownership of the company.

In it’s prior filing, the firm reported owning 2,861K shares, representing
an increase
of 33.82%.

The firm

decreased

its portfolio allocation in NOVA by 92.03% over the last quarter.

Sunnova Energy International Background Information
(This description is provided by the company.)

Sunnova Energy International Inc. (NYSE: NOVA) is a leading residential solar and energy storage service provider with customers across the U.S. states and its territories. Sunnova’s goal is to be the leading provider of clean, affordable and reliable energy for consumers, and it operates with a simple mission: to power energy independence so homeowners have the freedom to live life uninterrupted™.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.