Sunnova Energy International (NYSE:NOVA) Trading Up 9.4%

Sunnova Energy International Inc. (NYSE:NOVA)’s stock price was up 9.4% during mid-day trading on Wednesday . The company traded as high as $5.81 and last traded at $5.73. Approximately 2,623,954 shares were traded during trading, a decline of 70% from the average daily volume of 8,779,050 shares. The stock had previously closed at $5.24.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NOVA shares. Piper Sandler cut shares of Sunnova Energy International from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $9.00 to $4.50 in a research note on Tuesday, May 21st. Evercore ISI cut their target price on shares of Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. KeyCorp lowered shares of Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 23rd. Scotiabank decreased their target price 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, April 29th. Finally, Janney Montgomery Scott raised Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Friday, March 22nd. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Sunnova Energy International presently has a consensus rating of “Moderate Buy” and an average price target of $15.88.

Sunnova Energy International Stock Performance

The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market capitalization of $686.85 million, a price-to-earnings ratio of -1.66 and a beta of 2.19. The firm has a 50-day simple moving average of $4.55 and a two-hundred day simple moving average of $8.34.

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

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, insider Jack O. Lynch III sold 12,994 shares of the stock in a transaction dated 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 document filed with the SEC, which is available at this link. In other Sunnova Energy International news, insider Jack O. Lynch III sold 12,994 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $6.21, for a total value of $80,692.74. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the sale, the insider now owns 14,007 shares in the company, valued at $74,377.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,580 shares of company stock valued at $137,382. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Sunnova Energy International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Sunnova Energy International in the 1st quarter valued at $25,000. Manchester Capital Management LLC boosted its stake in Sunnova Energy International by 2,959.7% in the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after acquiring an additional 1,835 shares in the last quarter. Caxton Associates LP purchased a new position in shares of Sunnova Energy International during the first quarter worth about $62,000. First Trust Direct Indexing L.P. acquired a new stake in shares of Sunnova Energy International during the first quarter worth about $66,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Sunnova Energy International by 129.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock valued at $72,000 after purchasing an additional 6,661 shares during 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.