Insider Buying: Sunnova Energy International Inc. (NYSE:NOVA) Director Acquires 50,000 Shares of Stock

Sunnova Energy International Inc. (NYSE:NOVA) Director Akbar Mohamed acquired 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average cost of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the transaction, the director now directly owns 352,654 shares in the company, valued at $1,283,660.56. The trade was a 16.52 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Akbar Mohamed also recently made the following trade(s):

• On Friday, November 15th, Akbar Mohamed bought 54,717 shares of Sunnova Energy International stock. The stock was purchased at an average cost of $3.80 per share, for a total transaction of $207,924.60.

Sunnova Energy International Price Performance

Shares of NOVA stock traded down $0.21 during trading hours on Tuesday, hitting $3.45. 8,904,898 shares of the company’s stock were exchanged, compared to its average volume of 8,309,697. The firm has a 50 day moving average of $7.20 and a two-hundred day moving average of $6.92. Sunnova Energy International Inc. has a fifty-two week low of $2.99 and a fifty-two week high of $16.35. The firm has a market cap of $430.46 million, a P/E ratio of -1.03 and a beta of 2.26. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The company had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.53) EPS. Sell-side analysts forecast that Sunnova Energy International Inc. will post -2.24 EPS for the current year.

Hedge Funds Weigh In On Sunnova Energy International

A number of hedge funds have recently made changes to their positions in the company. Erste Asset Management GmbH acquired a new position in Sunnova Energy International in the 3rd quarter valued at $76,550,000. Sylebra Capital LLC raised its position in shares of Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after buying an additional 6,926,399 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Sunnova Energy International by 56.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after acquiring an additional 5,118,552 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after acquiring an additional 611,452 shares in the last quarter. Finally, Electron Capital Partners LLC raised its holdings in Sunnova Energy International by 24.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock valued at $16,768,000 after acquiring an additional 591,514 shares during the last quarter.

Wall Street Analysts Forecast Growth

NOVA has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a report on Friday, November 1st. BNP Paribas lowered shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price for the company. in a research note on Friday, November 8th. BMO Capital Markets reissued a “market perform” rating and set a $8.00 price objective (down from $10.00) on shares of Sunnova Energy International in a report on Friday, November 1st. Jefferies Financial Group assumed coverage on shares of Sunnova Energy International in a report on Thursday, October 10th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Truist Financial raised their price target on Sunnova Energy International from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.89.

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.