Sunnova Energy International (NYSE:NOVA) Trading Down 5.3%

Sunnova Energy International Inc. (NYSE:NOVA)’s share price fell 5.3% during trading on Monday . The stock traded as low as $9.78 and last traded at $9.84. 2,195,848 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 7,712,527 shares. The stock had previously closed at $10.39.

Analyst Ratings Changes

A number of analysts recently commented on NOVA shares. Guggenheim lifted their target price on shares of Sunnova Energy International from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Company raised their price objective on Sunnova Energy International from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group lifted their price objective on shares of Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley raised their target price on shares of Sunnova Energy International from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 21st. Finally, Piper Sandler increased their price target on Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Eight equities 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 stock. According to MarketBeat.com, Sunnova Energy International has an average rating of “Moderate Buy” and a consensus target price of $15.26.

Sunnova Energy International Price Performance

The stock has a market cap of $1.21 billion, a PE ratio of -2.96 and a beta of 2.22. The stock’s fifty day moving average is $9.52 and its 200-day moving average is $6.65. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.97 and a quick ratio of 0.97.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.27. The company had revenue of $219.60 million during the quarter, compared to analyst estimates of $220.38 million. Sunnova Energy International had a negative return on equity of 8.85% and a negative net margin of 45.76%. The firm’s revenue for the quarter was up 32.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.74) earnings per share. As a group, equities analysts anticipate that Sunnova Energy International Inc. will post -1.8 EPS for the current year.

Insider Activity

In related news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the transaction, the insider now owns 409,045 shares in the company, valued at $4,626,298.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

A number of hedge funds have recently bought and sold shares of NOVA. Peoples Bank KS purchased a new stake in shares of Sunnova Energy International during the second quarter worth approximately $56,000. Caxton Associates LP acquired a new position in shares of Sunnova Energy International during the first quarter worth $62,000. First Trust Direct Indexing L.P. acquired a new position in shares of Sunnova Energy International during the first quarter worth $66,000. Presidio Capital Management LLC acquired a new stake in Sunnova Energy International in the second quarter valued at $67,000. Finally, nVerses Capital LLC lifted its holdings in Sunnova Energy International by 237.8% during the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after buying an additional 8,800 shares during 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.