Sunnova Energy International (NYSE:NOVA) Stock Price Up 11.3%

Sunnova Energy International Inc. (NYSE:NOVA) shares were up 11.3% during mid-day trading on Tuesday . The company traded as high as $6.04 and last traded at $6.00. Approximately 2,489,756 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 9,000,951 shares. The stock had previously closed at $5.39.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Northland Securities reiterated a “market perform” rating and set a $9.00 price objective (down previously from $12.00) on shares of Sunnova Energy International in a research report on Friday, February 23rd. Piper Sandler upgraded shares of Sunnova Energy International from a “neutral” rating to an “overweight” rating and upped their price target for the company from $13.00 to $26.00 in a report on Tuesday, December 19th. Janney Montgomery Scott raised shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Friday, March 22nd. The Goldman Sachs Group dropped their target price on Sunnova Energy International from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. Finally, Morgan Stanley restated an “equal weight” rating and set a $14.00 price objective (down previously from $24.00) on shares of Sunnova Energy International in a report on Monday, March 4th. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.89.

Sunnova Energy International Trading Up 7.6 %

The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50-day moving average of $8.31 and a 200-day moving average of $10.30.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. The business had revenue of $194.18 million during the quarter, compared to analysts’ expectations of $226.09 million. Sunnova Energy International had a negative net margin of 58.00% and a negative return on equity of 13.26%. Research analysts expect that Sunnova Energy International Inc. will post -2.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Akbar Mohamed acquired 152,450 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the acquisition, the director now owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Sunnova Energy International news, insider Jack O. Lynch III sold 12,994 shares of Sunnova Energy International stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $6.21, for a total transaction of $80,692.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Akbar Mohamed bought 152,450 shares of the stock in a transaction dated Wednesday, February 28th. The stock was bought at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the purchase, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 23,580 shares of company stock valued at $137,382. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunnova Energy International

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its stake in Sunnova Energy International by 1.6% during the 1st quarter. BlackRock Inc. now owns 16,530,455 shares of the company’s stock valued at $381,192,000 after acquiring an additional 261,186 shares in the last quarter. Vanguard Group Inc. raised its holdings in Sunnova Energy International by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company’s stock valued at $159,917,000 after buying an additional 215,905 shares during the period. Electron Capital Partners LLC lifted its position in Sunnova Energy International by 42.9% in the third quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock valued at $55,582,000 after buying an additional 1,593,098 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sunnova Energy International by 39.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,241,007 shares of the company’s stock valued at $50,618,000 after acquiring an additional 921,583 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Sunnova Energy International by 0.4% in the 1st quarter. State Street Corp now owns 2,185,742 shares of the company’s stock worth $50,403,000 after acquiring an additional 9,078 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.