Sunnova Energy International (NYSE:NOVA) Trading Up 8.9% - What's Next?

Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report) shot up 8.9% during trading on Monday . The company traded as high as $6.50 and last traded at $6.24. 2,322,787 shares traded hands during trading, a decline of 70% from the average session volume of 7,731,425 shares. The stock had previously closed at $5.73.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NOVA. Wells Fargo & Company increased their price objective on Sunnova Energy International from $6.00 to $9.00 and gave the company an "equal weight" rating in a report on Tuesday, August 6th. The Goldman Sachs Group increased their price objective on Sunnova Energy International from $10.00 to $13.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the company an "outperform" rating in a report on Monday, August 5th. Jefferies Financial Group began coverage on Sunnova Energy International in a report on Thursday, October 10th. They set a "buy" rating and a $15.00 price objective on the stock. Finally, Piper Sandler increased their price objective on Sunnova Energy International from $7.00 to $8.00 and gave the company a "neutral" rating in a report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.61.

Sunnova Energy International Stock Up 14.3 %

The firm has a market cap of $817.83 million, a price-to-earnings ratio of -1.93 and a beta of 2.26. The business's 50-day moving average is $8.69 and its 200-day moving average is $6.91. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The firm had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative return on equity of 11.46% and a negative net margin of 51.02%. The business's quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.53) EPS. On average, equities analysts predict that Sunnova Energy International Inc. will post -1.99 EPS for the current year.

Insiders Place Their Bets

In other news, insider William J. Berger sold 77,000 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the sale, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.50% of the company's stock.

Institutional Trading of Sunnova Energy International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Affirmative Financial Network increased its stake in shares of Sunnova Energy International by 12.9% in the second quarter. First Affirmative Financial Network now owns 14,829 shares of the company's stock valued at $83,000 after buying an additional 1,691 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in Sunnova Energy International by 11.6% in the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company's stock worth $189,000 after purchasing an additional 2,016 shares during the period. Ballentine Partners LLC increased its position in Sunnova Energy International by 15.9% in the third quarter. Ballentine Partners LLC now owns 21,515 shares of the company's stock worth $210,000 after purchasing an additional 2,956 shares during the period. International Assets Investment Management LLC increased its position in Sunnova Energy International by 37,400.0% in the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company's stock worth $308,000 after purchasing an additional 2,992 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Sunnova Energy International by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company's stock worth $315,000 after purchasing an additional 3,559 shares during the period.

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.