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Sunnova Energy International Inc (NYSE:NOVA) shares are trading higher by 12.3% to $5.86 during Monday’s session, despite a lack of company-specific news justifying the move higher. The company earlier in an SEC filing said that Rahman D’Argenio announced his irrevocable resignation from his position as a Class I director on Sunnova’s Board of Directors and as a member of the Compensation and Human Capital Committee, effective June 28.
According to the Stockholders Agreement dated July 29, 2019, ECP Stockholder confirmed D’Argenio’s resignation and removal from the Board effective June 28. ECP Stockholder reserved the right to designate a replacement but chose not to nominate one at that time.
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By now you're likely curious about how to participate in the market for Sunnova Energy – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of Sunnova Energy, which is trading at $5.76 as of publishing time, $100 would buy you 17.36 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
According to data from Benzinga Pro, NOVA has a 52-week high of $24.56 and a 52-week low of $3.37.
Posted In: NOVA
