Sunnova Energy International (NYSE:NOVA) Trading 6.7% Higher

Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report) shares traded up 6.7% on Monday . The stock traded as high as $4.32 and last traded at $4.27. 4,716,506 shares traded hands during trading, a decline of 48% from the average session volume of 9,006,431 shares. The stock had previously closed at $4.00.

Analysts Set New Price Targets

NOVA has been the subject of a number of recent analyst reports. Wells Fargo & Company restated an "equal weight" rating and issued a $6.00 price objective (down from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. Janney Montgomery Scott upgraded Sunnova Energy International from a "neutral" rating to a "buy" rating and set a $12.00 price target for the company in a research note on Friday, March 22nd. Morgan Stanley reaffirmed an "equal weight" rating and set a $14.00 price objective (down from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. Truist Financial reissued a "buy" rating and issued a $16.00 target price (down previously from $18.00) on shares of Sunnova Energy International in a research report on Monday, February 26th. Finally, B. Riley dropped their price target on shares of Sunnova Energy International from $21.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, April 22nd. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.14.

Sunnova Energy International Stock Performance

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.58. The company has a market cap of $537.47 million, a P/E ratio of -1.24 and a beta of 2.08. The business's 50 day simple moving average is $5.49 and its 200 day simple moving average is $9.27.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last announced its quarterly earnings data 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. Sunnova Energy International had a negative net margin of 58.00% and a negative return on equity of 13.26%. The firm had revenue of $194.18 million during the quarter, compared to analysts' expectations of $226.09 million. Sell-side analysts predict that Sunnova Energy International Inc. will post -2.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sunnova Energy International news, Director Akbar Mohamed bought 152,450 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the purchase, the director now owns 236,139 shares of the company's stock, valued at $1,634,081.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the sale, the insider now owns 14,007 shares in the company, valued at approximately $74,377.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Akbar Mohamed acquired 152,450 shares of the company's stock in a transaction on Wednesday, February 28th. The shares were bought at an average cost of $6.92 per share, with a total value 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 disclosure for this purchase can be found here. In the last quarter, insiders sold 23,580 shares of company stock worth $137,382. Corporate insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On Sunnova Energy International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Electron Capital Partners LLC increased its stake in Sunnova Energy International by 42.9% in the 3rd quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company's stock worth $55,582,000 after acquiring an additional 1,593,098 shares during the last quarter. Van ECK Associates Corp raised its stake in Sunnova Energy International by 124.4% during the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company's stock valued at $23,841,000 after purchasing an additional 866,705 shares in the last quarter. Banque Pictet & Cie SA bought a new position in Sunnova Energy International during the third quarter valued at $6,906,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Sunnova Energy International by 57.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company's stock worth $13,872,000 after buying an additional 484,150 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Sunnova Energy International in the 4th quarter worth about $6,930,000.

About Sunnova Energy International

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.