Sunnova Energy International (NYSE:NOVA) Trading Up 17.8% – Should You Buy?

Sunnova Energy International Inc. (NYSE:NOVA)’s share price traded up 17.8% on Thursday . The company traded as high as $4.04 and last traded at $4.04. 5,940,816 shares were traded during trading, a decline of 30% from the average session volume of 8,439,859 shares. The stock had previously closed at $3.43.

Analysts Set New Price Targets

Several brokerages have commented on NOVA. Barclays cut their price target on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Piper Sandler dropped their price objective on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday, November 22nd. TD Cowen started coverage on Sunnova Energy International in a research note on Thursday, December 19th. They issued a “hold” rating and a $5.00 target price on the stock. The Goldman Sachs Group cut their price objective on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $8.00 price target (down previously from $10.00) on shares of Sunnova Energy International in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Sunnova Energy International has a consensus rating of “Hold” and a consensus target price of $10.24.

Sunnova Energy International Trading Up 13.4 %

The company has a market capitalization of $486.07 million, a PE ratio of -1.16 and a beta of 2.22. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The stock’s fifty day moving average price is $4.41 and its two-hundred day moving average price is $6.80.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share 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 the consensus estimate of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. Sunnova Energy International’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.53) earnings per share. Sell-side analysts anticipate that Sunnova Energy International Inc. will post -2.44 earnings per share for the current year.

Insider Buying and Selling at Sunnova Energy International

In other news, Director Akbar Mohamed purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the transaction, the director now directly owns 352,654 shares of the company’s stock, valued at $1,283,660.56. This trade represents a 16.52 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Eric Michael Williams acquired 13,800 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was purchased at an average price of $3.60 per share, with a total value of $49,680.00. Following the acquisition, the chief financial officer now owns 13,800 shares of the company’s stock, valued at $49,680. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 118,517 shares of company stock valued at $439,605. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Sylebra Capital LLC increased its stake in shares of Sunnova Energy International by 125.6% during the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after purchasing an additional 6,926,399 shares in the last quarter. Erste Asset Management GmbH bought a new position in Sunnova Energy International during the 3rd quarter valued at approximately $76,550,000. Handelsbanken Fonder AB increased its position in Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after buying an additional 611,452 shares in the last quarter. Electron Capital Partners LLC raised its stake in Sunnova Energy International by 24.5% during the second quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock valued at $16,768,000 after buying an additional 591,514 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Sunnova Energy International by 3.6% in the third quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company’s stock worth $24,965,000 after acquiring an additional 88,945 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.