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

Sunnova Energy International Inc. (NYSE:NOVA)’s stock price traded down 3% during 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.

Wall Street Analysts Forecast Growth

NOVA has been the topic of several research reports. Guggenheim raised their target price on Sunnova Energy International from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada increased their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Scotiabank lifted their price target on shares of Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 6th. Robert W. Baird boosted their price objective on Sunnova Energy International from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Morgan Stanley raised their price target on shares of Sunnova Energy International from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 21st. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sunnova Energy International presently has a consensus rating of “Moderate Buy” and an average price target of $15.26.

Sunnova Energy International Price Performance

The company has a debt-to-equity ratio of 3.11, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -3.61 and a beta of 2.22. The stock’s 50 day simple moving average is $9.06 and its 200-day simple moving average is $6.40.

Sunnova Energy International (NYSE:NOVA) last released 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 firm 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 business earned ($0.74) earnings per share. The company’s revenue for the quarter was up 32.0% compared to the same quarter last year. On average, analysts expect that Sunnova Energy International Inc. will post -1.8 EPS for the current fiscal year.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the stock in a transaction on 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 owns 409,045 shares in the company, valued at $4,626,298.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Sunnova Energy International by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 842,130 shares of the company’s stock valued at $12,842,000 after acquiring an additional 61,953 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Sunnova Energy International in the 4th quarter worth $199,000. Vanguard Group Inc. grew its position in Sunnova Energy International by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock worth $64,782,000 after purchasing an additional 81,653 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Sunnova Energy International by 87,558.3% during the second quarter. Nisa Investment Advisors LLC now owns 105,190 shares of the company’s stock valued at $587,000 after acquiring an additional 105,070 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Sunnova Energy International by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 343,267 shares of the company’s stock valued at $5,235,000 after purchasing an additional 7,571 shares during the last quarter.

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.