Sunnova Energy International (NYSE:NOVA) Stock Price Down 9.2%

Shares of Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report) fell 9.2% during mid-day trading on Wednesday . The stock traded as low as $4.82 and last traded at $4.84. 3,304,788 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 9,166,027 shares. The stock had previously closed at $5.33.

Analysts Set New Price Targets

Several research firms have recently issued reports on NOVA. Robert W. Baird reduced their target price on Sunnova Energy International from $14.00 to $12.00 and set an "outperform" rating for the company in a report on Friday, May 3rd. Evercore ISI reduced their price objective on Sunnova Energy International from $26.00 to $17.00 and set an "outperform" rating for the company in a report on Friday, May 3rd. KeyCorp lowered Sunnova Energy International from an "overweight" rating to a "sector weight" rating in a report on Tuesday, April 23rd. The Goldman Sachs Group reduced their price objective on Sunnova Energy International from $14.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, April 11th. Finally, Mizuho dropped their target price on Sunnova Energy International from $21.00 to $17.00 and set a "buy" rating on the stock in a research report on Friday, April 19th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.71.

Sunnova Energy International Trading Down 9.8 %

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 company has a 50 day moving average of $4.71 and a two-hundred day moving average of $8.88. The stock has a market capitalization of $596.34 million, a PE ratio of -1.44 and a beta of 2.15.

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

Insider Activity

In other Sunnova Energy International news, Director Akbar Mohamed purchased 152,450 shares of Sunnova Energy International stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the acquisition, the director now owns 236,139 shares of the company's stock, valued at approximately $1,634,081.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, 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 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 legal filing with the SEC, which can be accessed through this link. Also, Director Akbar Mohamed purchased 152,450 shares of the business's stock in a transaction on Wednesday, February 28th. The stock was acquired at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the purchase, the director now owns 236,139 shares of the company's stock, valued at $1,634,081.88. The disclosure for this purchase can be found here. Insiders sold a total of 23,580 shares of company stock valued at $137,382 in the last quarter. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunnova Energy International

Several hedge funds have recently made changes to their positions in the company. Manchester Capital Management LLC raised its stake in Sunnova Energy International by 2,959.7% during the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company's stock valued at $29,000 after buying 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 1st quarter valued at about $25,000. Allspring Global Investments Holdings LLC grew its position in shares of Sunnova Energy International by 158.1% during 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 last quarter. Headlands Technologies LLC bought a new stake in shares of Sunnova Energy International during the 4th quarter valued at about $157,000. Finally, Ballentine Partners LLC bought a new stake in shares of Sunnova Energy International during the 4th quarter valued at about $161,000.

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.

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