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

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

Wall Street Analyst Weigh In

NOVA has been the topic of a number of research analyst reports. Evercore ISI lowered their target price on Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Northland Securities reissued a “market perform” rating and issued a $9.00 price target (down from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. Mizuho reduced their target price on shares of Sunnova Energy International from $25.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Truist Financial restated a “buy” rating and set a $16.00 price target (down from $18.00) on shares of Sunnova Energy International in a research note on Monday, February 26th. Finally, Piper Sandler upgraded Sunnova Energy International from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $13.00 to $26.00 in a research report on Tuesday, December 19th. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.89.

Sunnova Energy International Stock Performance

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

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

Insiders Place Their Bets

In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction of $50,445.00. Following the transaction, the insider now owns 14,007 shares in the company, valued at $74,377.17. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Akbar Mohamed acquired 152,450 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the transaction, the director now directly owns 236,139 shares in the company, valued at $1,634,081.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $5.31, for a total value of $50,445.00. Following the sale, the insider now directly owns 14,007 shares in the company, valued at approximately $74,377.17. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,580 shares of company stock valued at $137,382. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Several large investors have recently modified their holdings of the business. Captrust Financial Advisors grew its position in shares of Sunnova Energy International by 236.4% in the 1st quarter. Captrust Financial Advisors now owns 1,487 shares of the company’s stock valued at $34,000 after purchasing an additional 1,045 shares during the period. Manchester Capital Management LLC lifted its position in Sunnova Energy International by 2,959.7% in the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after acquiring an additional 1,835 shares in the last quarter. Quarry LP bought a new stake in Sunnova Energy International in the 1st quarter valued at $36,000. Steward Partners Investment Advisory LLC increased its holdings in Sunnova Energy International by 108.9% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,302 shares of the company’s stock worth $36,000 after purchasing an additional 1,200 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Sunnova Energy International by 168.8% during the 1st quarter. US Bancorp DE now owns 2,809 shares of the company’s stock worth $65,000 after purchasing an additional 1,764 shares in the last quarter.

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.