Sunnova Energy International Inc. (NYSE:NOVA) Insider William J. Berger Sells 77,000 Shares

Sunnova Energy International Inc. (NYSE:NOVA) insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Sunnova Energy International Price Performance

Shares of NOVA stock opened at $10.75 on Thursday. The firm has a market cap of $1.33 billion, a P/E ratio of -3.19 and a beta of 2.19. Sunnova Energy International Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $16.35. The business’s 50 day moving average price is $7.46 and its 200-day moving average price is $6.24. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.27. Sunnova Energy International had a negative return on equity of 9.28% and a negative net margin of 45.76%. The company had revenue of $219.60 million for the quarter, compared to analyst estimates of $220.38 million. During the same period in the previous year, the company posted ($0.74) earnings per share. The firm’s revenue was up 32.0% on a year-over-year basis. On average, equities research analysts anticipate that Sunnova Energy International Inc. will post -1.89 earnings per share for the current year.

Institutional Investors Weigh In On Sunnova Energy International

Several hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Sunnova Energy International by 2.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock valued at $663,000 after purchasing an additional 1,094 shares in the last quarter. First Affirmative Financial Network boosted its position in shares of Sunnova Energy International by 12.9% during the second quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock valued at $83,000 after purchasing an additional 1,691 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of Sunnova Energy International by 2,959.7% during the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after purchasing an additional 1,835 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Sunnova Energy International by 23.2% during the fourth quarter. Victory Capital Management Inc. now owns 14,310 shares of the company’s stock valued at $218,000 after purchasing an additional 2,694 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Sunnova Energy International by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock valued at $315,000 after purchasing an additional 3,559 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley raised their price target on Sunnova Energy International from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, August 21st. Truist Financial raised their price target on Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, July 29th. Evercore ISI decreased their price objective on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. The Goldman Sachs Group raised their price objective on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Scotiabank raised their price objective on Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 6th. Eight investment 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.26.

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.