Sunnova Energy International (NYSE:NOVA) Shares Down 5.6% – Should You Sell?

Sunnova Energy International Inc. (NYSE:NOVA)’s stock price traded down 5.6% on Monday . The stock traded as low as $7.00 and last traded at $7.02. 2,342,453 shares were traded during trading, a decline of 70% from the average session volume of 7,685,057 shares. The stock had previously closed at $7.44.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NOVA shares. Robert W. Baird raised their price objective on shares of Sunnova Energy International from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their price target on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Susquehanna raised their target price on Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price target on 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. Finally, Barclays lowered their price objective on 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. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.52.

Sunnova Energy International Trading Down 1.0 %

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 firm’s fifty day moving average is $9.60 and its two-hundred day moving average is $6.81. The firm has a market capitalization of $851.76 million, a PE ratio of -2.06 and a beta of 2.21.

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

Insider Activity

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the sale, the insider now owns 409,045 shares of the company’s stock, valued at approximately $4,626,298.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Large investors have recently modified their holdings of the business. First Affirmative Financial Network raised its stake in shares of Sunnova Energy International by 12.9% during the 2nd quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock valued at $83,000 after purchasing an additional 1,691 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Sunnova Energy International by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock valued at $315,000 after buying an additional 3,559 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Sunnova Energy International by 14.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 33,033 shares of the company’s stock worth $202,000 after buying an additional 4,200 shares in the last quarter. Sei Investments Co. boosted its position in shares of Sunnova Energy International by 9.8% in the second quarter. Sei Investments Co. now owns 68,846 shares of the company’s stock valued at $384,000 after acquiring an additional 6,117 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in Sunnova Energy International by 129.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock valued at $72,000 after acquiring an additional 6,661 shares in 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.