Sunnova Energy International (NYSE:NOVA) Trading 8.2% Higher – Should You Buy?

Sunnova Energy International Inc. (NYSE:NOVA)’s stock price rose 8.2% on Wednesday . The company traded as high as $5.85 and last traded at $5.78. Approximately 2,079,965 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 8,403,522 shares. The stock had previously closed at $5.34.

Analysts Set New Price Targets

NOVA has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Scotiabank lifted their target price on shares of Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 6th. Morgan Stanley lowered their target price on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Wolfe Research lowered shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Robert W. Baird reduced their price objective on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.73.

Sunnova Energy International Trading Up 1.9 %

The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50 day moving average price is $6.40 and its 200-day moving average price is $6.93. The company has a market cap of $679.73 million, a price-to-earnings ratio of -1.73 and a beta of 2.26.

Sunnova Energy International (NYSE:NOVA) last released 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). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. During the same period in the previous year, the firm posted ($0.53) earnings per share. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, research analysts forecast that Sunnova Energy International Inc. will post -2.37 EPS for the current year.

Insider Buying and Selling at Sunnova Energy International

In other news, CFO Eric Michael Williams bought 13,800 shares of the 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 completion of the purchase, the chief financial officer now owns 13,800 shares of the company’s stock, valued at approximately $49,680. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Akbar Mohamed bought 50,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were bought at an average price of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the acquisition, the director now directly owns 352,654 shares in the company, valued at approximately $1,283,660.56. This trade represents a 16.52 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 118,517 shares of company stock worth $439,605 over the last three months. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

A number of institutional investors have recently modified their holdings of NOVA. Peoples Bank KS acquired a new stake in Sunnova Energy International in the second quarter valued at $56,000. Caxton Associates LP acquired a new stake in Sunnova Energy International during the first quarter worth approximately $62,000. Presidio Capital Management LLC acquired a new position in shares of Sunnova Energy International in the second quarter valued at approximately $67,000. nVerses Capital LLC increased its position in Sunnova Energy International by 237.8% during the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after buying an additional 8,800 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Sunnova Energy International during the 2nd quarter worth approximately $78,000.

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.