Sunnova Energy International (NYSE:NOVA) Trading 8.1% Higher

Sunnova Energy International Inc. (NYSE:NOVA)’s share price traded up 8.1% during mid-day trading on Thursday . The stock traded as high as $6.39 and last traded at $6.38. 4,007,749 shares were traded during trading, a decline of 53% from the average session volume of 8,527,395 shares. The stock had previously closed at $5.90.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $6.00 price target (down previously from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. The Goldman Sachs Group lowered their price objective on shares of Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Piper Sandler lowered shares of Sunnova Energy International from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $9.00 to $4.50 in a research note on Tuesday, May 21st. Janney Montgomery Scott upgraded shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday, March 22nd. Finally, B. Riley lowered their price objective on shares of Sunnova Energy International from $21.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.73.

Sunnova Energy International Stock Down 14.3 %

The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41. The company has a fifty day moving average price of $4.80 and a 200 day moving average price of $7.67.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.22. The business had revenue of $160.90 million during the quarter, compared to analyst estimates of $193.78 million. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. Sunnova Energy International’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.70) earnings per share. Sell-side analysts anticipate that Sunnova Energy International Inc. will post -1.85 EPS for the current year.

Institutional Trading of Sunnova Energy International

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Sunnova Energy International by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 780,177 shares of the company’s stock valued at $8,168,000 after acquiring an additional 31,010 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Sunnova Energy International by 1.8% during the third quarter. Rhumbline Advisers now owns 179,585 shares of the company’s stock valued at $1,880,000 after acquiring an additional 3,144 shares in the last quarter. Teza Capital Management LLC raised its holdings in shares of Sunnova Energy International by 63.1% during the third quarter. Teza Capital Management LLC now owns 43,574 shares of the company’s stock valued at $456,000 after acquiring an additional 16,862 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Sunnova Energy International by 102.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 190,800 shares of the company’s stock valued at $1,998,000 after acquiring an additional 96,500 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Sunnova Energy International during the third quarter valued at approximately $689,000.

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.