Sunnova Energy International (NYSE:NOVA) Shares Down 3.5% – Here’s Why

Sunnova Energy International Inc. (NYSE:NOVA) fell 3.5% during trading on Monday . The company traded as low as $5.49 and last traded at $5.54. 502,186 shares changed hands during trading, a decline of 93% from the average session volume of 7,661,439 shares. The stock had previously closed at $5.74.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NOVA shares. Robert W. Baird upped their target price on Sunnova Energy International from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Scotiabank lifted their target price on shares of Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 6th. Barclays dropped their price target on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Piper Sandler raised their price target on Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, Guggenheim boosted their price target on Sunnova Energy International from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.22.

Sunnova Energy International Stock Performance

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11. The firm’s fifty day moving average price is $9.41 and its 200-day moving average price is $6.85. The company has a market cap of $685.62 million, a P/E ratio of -1.65 and a beta of 2.21.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.27. Sunnova Energy International had a negative return on equity of 8.85% and a negative net margin of 45.76%. The company had revenue of $219.60 million during the quarter, compared to the consensus estimate of $220.38 million. During the same quarter last year, the company earned ($0.74) EPS. The company’s quarterly revenue was up 32.0% on a year-over-year basis. As a group, research analysts forecast that Sunnova Energy International Inc. will post -1.86 EPS for the current fiscal year.

Insider Activity

In other Sunnova Energy International news, 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 transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is owned by company insiders.

Institutional Trading of Sunnova Energy International

Several hedge funds have recently modified their holdings of NOVA. Friedenthal Financial bought a new stake in Sunnova Energy International during the 3rd quarter worth approximately $720,000. Creative Planning bought a new stake in Sunnova Energy International during the 3rd quarter worth about $107,000. Diversified Trust Co acquired a new stake in shares of Sunnova Energy International in the 3rd quarter valued at $203,000. GAMMA Investing LLC boosted its holdings in Sunnova Energy International by 736.3% in the third quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock valued at $85,000 after acquiring an additional 7,709 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in Sunnova Energy International by 9.1% in the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after purchasing an additional 611,452 shares during the period.

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.