Sunnova Energy International (NYSE:NOVA) Stock Price Up 8.9%

Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report) traded up 8.9% on Wednesday . The stock traded as high as $4.43 and last traded at $4.41. 1,826,250 shares changed hands during trading, a decline of 80% from the average session volume of 9,009,380 shares. The stock had previously closed at $4.05.

Wall Street Analysts Forecast Growth

NOVA has been the topic of a number of analyst reports. BMO Capital Markets reduced their price target on Sunnova Energy International from $10.00 to $6.00 and set a "market perform" rating on the stock in a research report on Friday, May 3rd. B. Riley decreased their price target on shares of Sunnova Energy International from $21.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, April 22nd. Evercore ISI dropped their price objective on shares of Sunnova Energy International from $26.00 to $17.00 and set an "outperform" rating on the stock in a research report on Friday, May 3rd. 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. Finally, Wells Fargo & Company restated an "equal weight" rating and set a $6.00 price target (down previously from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.88.

Sunnova Energy International Stock Up 7.5 %

The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market capitalization of $539.93 million, a price-to-earnings ratio of -1.27 and a beta of 2.15. The firm has a fifty day moving average price of $4.59 and a 200 day moving average price of $8.70.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, beating analysts' consensus estimates of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The company had revenue of $160.90 million during the quarter, compared to the consensus estimate of $193.78 million. During the same quarter last year, the company earned ($0.70) earnings per share. Sunnova Energy International's quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that Sunnova Energy International Inc. will post -1.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Akbar Mohamed purchased 152,450 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average price 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 approximately $1,634,081.88. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Sunnova Energy International news, insider Jack O. Lynch III sold 12,994 shares of the firm'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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Akbar Mohamed purchased 152,450 shares of Sunnova Energy International stock in a transaction on Wednesday, February 28th. The stock was acquired 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 of the company's stock, valued at $1,634,081.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 23,580 shares of company stock valued at $137,382. Corporate insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC lifted 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 purchasing an additional 1,835 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Sunnova Energy International in the first quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Sunnova Energy International by 158.1% during the third 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. Caxton Associates LP acquired a new stake in Sunnova Energy International during the first quarter worth approximately $62,000. Finally, Headlands Technologies LLC purchased a new stake in Sunnova Energy International in the 4th quarter worth approximately $157,000.

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.