Sunnova Energy International (NYSE:NOVA) Trading 4.5% Higher

Shares of Sunnova Energy International Inc. (NYSE:NOVA) traded up 4.5% during trading on Friday . The company traded as high as $11.19 and last traded at $11.19. 2,356,349 shares were traded during mid-day trading, a decline of 71% from the average session volume of 8,118,230 shares. The stock had previously closed at $10.71.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BMO Capital Markets cut their price objective on shares of Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday, May 3rd. Guggenheim boosted 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 report on Friday, July 26th. Barclays dropped their target price on shares of Sunnova Energy International from $18.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Royal Bank of Canada boosted their target price on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Finally, Susquehanna boosted their target price on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a research report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Sunnova Energy International has a consensus rating of “Moderate Buy” and an average price target of $15.26.

Sunnova Energy International Price Performance

The stock’s fifty day moving average price is $7.56 and its 200-day moving average price is $6.27. 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 firm has a market cap of $1.38 billion, a price-to-earnings ratio of -3.18 and a beta of 2.19.

Sunnova Energy International (NYSE:NOVA) last released its 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 analysts’ expectations of $220.38 million. During the same quarter in the previous year, the business posted ($0.74) EPS. The business’s revenue for the quarter was up 32.0% on a year-over-year basis. Equities research analysts predict that Sunnova Energy International Inc. will post -1.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider William J. Berger sold 77,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the transaction, the insider now owns 409,045 shares of the company’s stock, valued at approximately $4,626,298.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Manchester Capital Management LLC boosted its stake in Sunnova Energy International by 2,959.7% during the 4th 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 during the period. Peoples Bank KS bought a new stake in shares of Sunnova Energy International in the second quarter valued at approximately $56,000. Caxton Associates LP bought a new position in Sunnova Energy International during the first quarter worth $62,000. First Trust Direct Indexing L.P. acquired a new position in Sunnova Energy International during the 1st quarter valued at $66,000. Finally, Presidio Capital Management LLC bought a new stake in Sunnova Energy International in the 2nd quarter valued at $67,000.

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.