Sunnova Energy International (NYSE:NOVA) Shares Up 6.7%

Sunnova Energy International Inc. (NYSE:NOVA) shares traded up 6.7% on Monday . The stock traded as high as $4.32 and last traded at $4.27. 4,716,506 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 9,006,431 shares. The stock had previously closed at $4.00.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NOVA shares. Truist Financial decreased their price target on shares of Sunnova Energy International from $16.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday. Northland Securities restated a “market perform” rating and issued a $9.00 price target (down from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. Janney Montgomery Scott upgraded Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Friday, March 22nd. Mizuho lowered their target price on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Finally, Scotiabank cut their price target on shares of Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating on the stock in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.86.

Sunnova Energy International Stock Performance

The company has a market capitalization of $437.16 million, a P/E ratio of -1.09 and a beta of 2.08. The stock’s fifty day moving average price is $5.35 and its 200-day moving average price is $9.23. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. The company had revenue of $194.18 million during the quarter, compared to analysts’ expectations of $226.09 million. As a group, research analysts anticipate that Sunnova Energy International Inc. will post -2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jack O. Lynch III sold 12,994 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $6.21, for a total transaction of $80,692.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jack O. Lynch III sold 12,994 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $6.21, for a total value of $80,692.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Akbar Mohamed purchased 152,450 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the acquisition, the director now owns 236,139 shares in the company, valued at approximately $1,634,081.88. The disclosure for this purchase can be found here. Insiders sold a total of 23,580 shares of company stock valued at $137,382 over the last ninety days. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunnova Energy International

Institutional investors and hedge funds have recently modified their holdings of the business. Manchester Capital Management LLC raised 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 worth $29,000 after purchasing an additional 1,835 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Sunnova Energy International in the first quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC raised its position in shares of Sunnova Energy International by 158.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock valued at $74,000 after buying an additional 4,310 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Sunnova Energy International during the 4th quarter valued at $157,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Sunnova Energy International during the 4th quarter worth $161,000.

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.