Sunnova Energy International (NYSE:NOVA) Trading 8.9% Higher – What’s Next?

Shares of Sunnova Energy International Inc. (NYSE:NOVA) were up 8.9% during mid-day trading on Monday . The company traded as high as $6.50 and last traded at $6.24. Approximately 2,322,787 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 7,731,425 shares. The stock had previously closed at $5.73.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Guggenheim boosted their price objective on Sunnova Energy International from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Citigroup lowered their price target on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Susquehanna increased their price objective on shares of Sunnova Energy International from $12.00 to $14.00 and gave the company a “positive” rating in a research report on Friday, August 2nd. Robert W. Baird decreased their price objective on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, The Goldman Sachs Group increased their target price on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Sunnova Energy International presently has an average rating of “Moderate Buy” and an average price target of $11.61.

Sunnova Energy International Stock Performance

The company has a market cap of $882.14 million, a PE ratio of -2.11 and a beta of 2.26. The stock has a 50 day simple moving average of $8.59 and a two-hundred day simple moving average of $6.93. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86.

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). The business had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The business’s revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.53) earnings per share. Equities analysts predict that Sunnova Energy International Inc. will post -2 EPS for the current year.

Insider Activity

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the completion of the sale, the insider now directly owns 409,045 shares of the company’s stock, valued at approximately $4,626,298.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Large investors have recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Sunnova Energy International by 56.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after buying an additional 5,118,552 shares in the last quarter. Vanguard Group Inc. grew its holdings in Sunnova Energy International by 0.8% during 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 during the period. Handelsbanken Fonder AB raised its position in Sunnova Energy International by 9.1% in the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after acquiring an additional 611,452 shares in the last quarter. Sylebra Capital LLC acquired a new stake in Sunnova Energy International in the second quarter valued at $30,783,000. Finally, Electron Capital Partners LLC boosted its position in shares of Sunnova Energy International by 24.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock worth $16,768,000 after purchasing an additional 591,514 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.