Sunnova Energy International (NYSE:NOVA) Trading Up 18.9% on Insider Buying Activity

Sunnova Energy International Inc. (NYSE:NOVA)’s share price was up 18.9% during mid-day trading on Wednesday following insider buying activity. The stock traded as high as $4.14 and last traded at $4.09. Approximately 5,827,341 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 8,299,118 shares. The stock had previously closed at $3.44.

Specifically, CFO Eric Michael Williams bought 13,800 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was purchased at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the acquisition, the chief financial officer now owns 13,800 shares in the company, valued at $49,680. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Akbar Mohamed purchased 50,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average price of $3.64 per share, with a total value of $182,000.00. Following the completion of the transaction, the director now owns 352,654 shares of the company’s stock, valued at $1,283,660.56. The trade was a 16.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, Director Akbar Mohamed acquired 54,717 shares of the business’s stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $3.80 per share, for a total transaction of $207,924.60. Following the completion of the transaction, the director now directly owns 302,654 shares of the company’s stock, valued at approximately $1,150,085.20. The trade was a 22.07 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

Several brokerages recently commented on NOVA. Scotiabank upped 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 report on Tuesday, August 6th. Jefferies Financial Group assumed coverage on Sunnova Energy International in a research note on Thursday, October 10th. They set a “buy” rating and a $15.00 target price on the stock. 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. Wolfe Research lowered Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group boosted their target price on shares of Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Sunnova Energy International currently has a consensus rating of “Moderate Buy” and an average price target of $10.89.

Sunnova Energy International Trading Up 1.2 %

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The stock has a market capitalization of $534.77 million, a P/E ratio of -1.28 and a beta of 2.26. The company has a 50-day moving average price of $6.79 and a 200 day moving average price of $6.88.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same quarter in the prior year, the firm posted ($0.53) earnings per share. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, research analysts forecast that Sunnova Energy International Inc. will post -2.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sunnova Energy International

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in shares of Sunnova Energy International by 43.6% during the 1st quarter. SG Americas Securities LLC now owns 35,168 shares of the company’s stock valued at $216,000 after purchasing an additional 10,682 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in 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 valued at $202,000 after buying an additional 4,200 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Sunnova Energy International by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock worth $64,782,000 after acquiring an additional 81,653 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Sunnova Energy International by 18.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 290,032 shares of the company’s stock worth $1,778,000 after acquiring an additional 46,198 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Sunnova Energy International by 3,168.8% during the first quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company’s stock valued at $3,519,000 after acquiring an additional 556,563 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.