Sunnova Energy International (NYSE:NOVA) Trading Down 3%

Sunnova Energy International Inc. (NYSE:NOVA) traded down 3% during mid-day trading on Thursday . The stock traded as low as $11.76 and last traded at $11.79. 1,364,058 shares were traded during trading, a decline of 83% from the average session volume of 7,842,510 shares. The stock had previously closed at $12.15.

Analyst Upgrades and Downgrades

Several research analysts have commented on NOVA shares. Wells Fargo & Company boosted their price objective on shares of Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 6th. Robert W. Baird raised their price objective on Sunnova Energy International from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their target price on Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Guggenheim lifted their price target on shares of Sunnova Energy International from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Morgan Stanley increased their price objective on shares of Sunnova Energy International from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 21st. Eight 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.26.

Sunnova Energy International Stock Down 3.9 %

The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -3.28 and a beta of 2.22. The stock has a 50 day simple moving average of $9.21 and a 200 day simple moving average of $6.47. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 3.11.

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

Insider Activity at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was 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 of the company’s stock, valued at $4,626,298.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunnova Energy International

Hedge funds have recently modified their holdings of the company. Peoples Bank KS purchased a new stake in shares of Sunnova Energy International during the second quarter valued at approximately $56,000. Caxton Associates LP purchased a new stake in shares of Sunnova Energy International during the 1st quarter valued at $62,000. First Trust Direct Indexing L.P. bought a new stake in shares of Sunnova Energy International during the 1st quarter worth $66,000. BI Asset Management Fondsmaeglerselskab A S boosted 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 worth $72,000 after buying an additional 6,661 shares during the last quarter. Finally, Presidio Capital Management LLC bought a new position in Sunnova Energy International during the second quarter valued at about $67,000.

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.