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

Sunnova Energy International Inc. (NYSE:NOVA)’s share price shot up 6.7% during mid-day trading on Monday . The company traded as high as $4.32 and last traded at $4.27. 4,716,506 shares were traded 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

NOVA has been the topic of several research reports. Evercore ISI reduced their price target on Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Mizuho lowered their target price on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Morgan Stanley reiterated an “equal weight” rating and set a $14.00 price target (down previously from $24.00) on shares of Sunnova Energy International in a report on Monday, March 4th. Scotiabank dropped their price target on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating on the stock in a research report on Monday. Finally, Truist Financial reissued a “buy” rating and set a $16.00 price objective (down previously from $18.00) on shares of Sunnova Energy International in a report on Monday, February 26th. Seven 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.14.

Sunnova Energy International Stock Up 8.5 %

The company has a 50-day moving average price of $5.63 and a 200 day moving average price of $9.31. The firm has a market capitalization of $537.47 million, a PE ratio of -1.23 and a beta of 2.08. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.85 and a quick ratio of 0.85.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, February 21st. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. The company had revenue of $194.18 million for the quarter, compared to the consensus estimate of $226.09 million. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. Analysts forecast that Sunnova Energy International Inc. will post -2.37 earnings per share for the current year.

Insider Buying and Selling

In other Sunnova Energy International news, Director Akbar Mohamed acquired 152,450 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the acquisition, the director now owns 236,139 shares in the company, valued at approximately $1,634,081.88. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Sunnova Energy International news, insider Jack O. Lynch III sold 12,994 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was 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 SEC, which can be accessed through the SEC website. Also, Director Akbar Mohamed bought 152,450 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the acquisition, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The disclosure for this purchase can be found here. Insiders have sold a total of 23,580 shares of company stock valued at $137,382 over the last quarter. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Sunnova Energy International

Several hedge funds and other institutional investors have recently bought and sold shares of NOVA. Commonwealth Equity Services LLC increased its stake in Sunnova Energy International by 34.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 17,527 shares of the company’s stock worth $184,000 after buying an additional 4,450 shares during the period. Raymond James & Associates lifted its stake in Sunnova Energy International by 19.5% during the third quarter. Raymond James & Associates now owns 95,096 shares of the company’s stock valued at $996,000 after purchasing an additional 15,503 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Sunnova Energy International by 3.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 66,485 shares of the company’s stock valued at $696,000 after acquiring an additional 1,962 shares during the period. Mackenzie Financial Corp increased its stake in Sunnova Energy International by 37.2% in the 3rd quarter. Mackenzie Financial Corp now owns 115,657 shares of the company’s stock valued at $1,211,000 after buying an additional 31,338 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Sunnova Energy International by 4.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,299 shares of the company’s stock worth $1,102,000 after acquiring an additional 4,411 shares in the last quarter.

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.