Sunnova Energy International (NYSE:NOVA) Stock Price Down 7%

Sunnova Energy International Inc. (NYSE:NOVA)’s stock price fell 7% on Wednesday . The stock traded as low as $4.11 and last traded at $4.11. 1,857,519 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 9,242,572 shares. The stock had previously closed at $4.42.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Scotiabank decreased their target price on shares of Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating for the company in a research report on Monday, April 29th. Mizuho lowered their target price on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Robert W. Baird dropped their price target on shares of Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. BMO Capital Markets reduced their price objective on shares of Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating for the company in a research report on Friday, May 3rd. Finally, Janney Montgomery Scott raised shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Friday, March 22nd. Seven 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 stock. Based on data from MarketBeat.com, Sunnova Energy International has a consensus rating of “Moderate Buy” and an average target price of $16.71.

Sunnova Energy International Stock Down 7.1 %

The stock has a market cap of $508.94 million, a P/E ratio of -1.20 and a beta of 2.15. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41. The firm’s fifty day moving average is $4.96 and its 200 day moving average is $9.03.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, topping 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 business had revenue of $160.90 million for the quarter, compared to analyst estimates of $193.78 million. During the same period in the previous year, the company posted ($0.70) earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts forecast that Sunnova Energy International Inc. will post -2.39 EPS for the current year.

Insider Activity

In other 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 acquired at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the transaction, the director now directly owns 236,139 shares in the company, valued at $1,634,081.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Akbar Mohamed bought 152,450 shares of Sunnova Energy International stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the transaction, the director now directly owns 236,139 shares in the company, valued at $1,634,081.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction of $50,445.00. Following the transaction, the insider now directly owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,580 shares of company stock valued at $137,382. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Hedge funds have recently modified their holdings of the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Sunnova Energy International in the first quarter valued at about $25,000. Manchester Capital Management LLC raised its holdings in Sunnova Energy International by 2,959.7% during the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after purchasing an additional 1,835 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new position in Sunnova Energy International during the 1st quarter valued at about $66,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Sunnova Energy International by 129.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock valued at $72,000 after purchasing an additional 6,661 shares during the last quarter. Finally, 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 worth $74,000 after buying an additional 4,310 shares during the period.

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.