Sunnova Energy International (NYSE:NOVA) Shares Up 3.6%

Sunnova Energy International Inc. (NYSE:NOVA) shot up 3.6% during trading on Tuesday . The stock traded as high as $5.31 and last traded at $5.24. 1,663,531 shares were traded during mid-day trading, a decline of 81% from the average session volume of 8,667,342 shares. The stock had previously closed at $5.06.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NOVA. Piper Sandler cut Sunnova Energy International from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $4.50 in a research note on Tuesday, May 21st. Evercore ISI decreased their target price on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Susquehanna decreased their target price on Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating for the company in a research report on Friday, April 5th. Truist Financial decreased their target price on Sunnova Energy International from $16.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, Northland Securities reissued a “market perform” rating and issued a $9.00 target price (down previously from $12.00) on shares of Sunnova Energy International in a research note on Friday, February 23rd. Eight research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.88.

Sunnova Energy International Stock Up 2.8 %

The company has a debt-to-equity ratio of 3.41, a current ratio of 0.74 and a quick ratio of 0.74. The company has a 50 day moving average of $4.49 and a 200-day moving average of $8.19. The company has a market cap of $644.70 million, a P/E ratio of -1.50 and a beta of 2.19.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The company had revenue of $160.90 million for the quarter, compared to the consensus estimate of $193.78 million. During the same quarter in the previous year, the business earned ($0.70) EPS. Sunnova Energy International’s revenue was down .5% compared to the same quarter last year. On average, equities analysts predict that Sunnova Energy International Inc. will post -1.9 earnings per share for the current year.

Institutional Trading of Sunnova Energy International

Several hedge funds and other institutional investors have recently made changes to their positions in NOVA. Vanguard Group Inc. increased its stake in shares of Sunnova Energy International by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock worth $64,782,000 after purchasing an additional 81,653 shares in the last quarter. Electron Capital Partners LLC increased its stake in shares of Sunnova Energy International by 42.9% in the 3rd quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock worth $55,582,000 after purchasing an additional 1,593,098 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Sunnova Energy International by 124.4% in the 4th quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after purchasing an additional 866,705 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Sunnova Energy International by 57.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company’s stock worth $13,872,000 after purchasing an additional 484,150 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Sunnova Energy International by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 842,130 shares of the company’s stock worth $12,842,000 after purchasing an additional 61,953 shares in the last quarter.

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.