Sunnova Energy International (NYSE:NOVA) Trading Down 7%

Shares of Sunnova Energy International Inc. (NYSE:NOVA) fell 7% during trading on Wednesday . The stock traded as low as $4.11 and last traded at $4.11. 1,857,519 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 9,242,572 shares. The stock had previously closed at $4.42.

Analyst Ratings Changes

NOVA has been the subject of several research analyst reports. Northland Securities reaffirmed a “market perform” rating and set a $9.00 price target (down previously from $12.00) on shares of Sunnova Energy International in a research note on Friday, February 23rd. BMO Capital Markets dropped their target price on shares of Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday, May 3rd. Mizuho reduced their price target on shares of Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating for the company in a report on Friday, April 19th. Wells Fargo & Company reiterated an “equal weight” rating and set a $6.00 price objective (down from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. Finally, KeyCorp downgraded shares of Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.71.

Sunnova Energy International Stock Performance

The firm has a fifty day moving average of $4.96 and a 200 day moving average of $9.03. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market capitalization of $508.94 million, a price-to-earnings ratio of -1.20 and a beta of 2.15.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.22. The firm had revenue of $160.90 million during the quarter, compared to analysts’ expectations of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.70) EPS. On average, sell-side analysts anticipate that Sunnova Energy International Inc. will post -2.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In related news, insider Jack O. Lynch III sold 12,994 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $6.21, for a total value of $80,692.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Akbar Mohamed bought 152,450 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was bought at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the acquisition, the director now directly owns 236,139 shares in the company, valued at $1,634,081.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jack O. Lynch III sold 12,994 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $6.21, for a total transaction of $80,692.74. The disclosure for this sale can be found here. Insiders have sold a total of 23,580 shares of company stock valued at $137,382 over the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Several institutional investors and hedge funds have recently bought and sold shares of NOVA. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Sunnova Energy International in the first quarter valued at approximately $25,000. Manchester Capital Management LLC lifted its stake in shares of 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 purchasing an additional 1,835 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of Sunnova Energy International during the 1st quarter worth $66,000. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Sunnova Energy International by 129.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock worth $72,000 after purchasing an additional 6,661 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Sunnova Energy International by 158.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock valued at $74,000 after buying an additional 4,310 shares during the period.

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.