Sunnova Energy International (NYSE:NOVA) Shares Up 7.2%

Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report)'s share price shot up 7.2% during trading on Thursday . The stock traded as high as $5.66 and last traded at $5.66. 1,070,818 shares were traded during mid-day trading, a decline of 88% from the average session volume of 9,144,188 shares. The stock had previously closed at $5.28.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Truist Financial restated a "buy" rating and issued a $16.00 target price (down previously from $18.00) on shares of Sunnova Energy International in a research note on Monday, February 26th. Mizuho lowered 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. Northland Securities reiterated 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. Piper Sandler raised Sunnova Energy International from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $13.00 to $26.00 in a research note on Tuesday, December 19th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $14.00 price target (down previously from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. Five analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sunnova Energy International has a consensus rating of "Moderate Buy" and an average price target of $19.89.

Sunnova Energy International Trading Down 2.8 %

The company has a market capitalization of $635.30 million, a P/E ratio of -1.47 and a beta of 2.08. 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 business's 50-day moving average price is $7.73 and its two-hundred day moving average price is $10.01.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last posted its 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 return on equity of 13.26% and a negative net margin of 58.00%. As a group, analysts forecast that Sunnova Energy International Inc. will post -2.15 EPS for the current fiscal year.

Insider Transactions 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 shares were sold at an average price of $6.21, for a total transaction of $80,692.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Paul S. Mathews sold 9,500 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 14,007 shares of the company's stock, valued at approximately $74,377.17. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jack O. Lynch III sold 12,994 shares of the business's stock in a transaction on Thursday, March 7th. The stock was 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 sold 23,580 shares of company stock valued at $137,382 over the last three months. Company insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NOVA. Manchester Capital Management LLC raised its holdings 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 during the period. Captrust Financial Advisors increased its holdings in Sunnova Energy International by 236.4% in the 1st quarter. Captrust Financial Advisors now owns 1,487 shares of the company's stock worth $34,000 after purchasing an additional 1,045 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in Sunnova Energy International by 108.9% in the first quarter. Steward Partners Investment Advisory LLC now owns 2,302 shares of the company's stock valued at $36,000 after purchasing an additional 1,200 shares during the last quarter. Quarry LP acquired a new stake in shares of Sunnova Energy International during the first quarter valued at about $36,000. Finally, KBC Group NV bought a new stake in shares of Sunnova Energy International during the fourth quarter worth about $51,000.

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.