Sunnova Energy International (NYSE:NOVA) Stock Price Down 3.5% - What's Next?

Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report) was down 3.5% on Monday . The company traded as low as $5.49 and last traded at $5.54. Approximately 502,186 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 7,661,439 shares. The stock had previously closed at $5.74.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NOVA shares. Royal Bank of Canada upped their target price on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock an "outperform" rating in a research note on Monday, August 5th. BMO Capital Markets upped their target price on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock a "market perform" rating in a research note on Monday, October 14th. Piper Sandler upped their target price on shares of Sunnova Energy International from $7.00 to $8.00 and gave the stock a "neutral" rating in a research note on Monday, August 12th. Truist Financial upped their target price on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Finally, Robert W. Baird increased their price objective on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $12.22.

Sunnova Energy International Stock Performance

The stock's 50-day simple moving average is $9.38 and its 200-day simple moving average is $6.85. The stock has a market cap of $647.81 million, a price-to-earnings ratio of -1.55 and a beta of 2.21. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.54) by $0.27. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 8.85%. The firm had revenue of $219.60 million for the quarter, compared to analyst estimates of $220.38 million. During the same quarter in the prior year, the business posted ($0.74) EPS. The business's revenue was up 32.0% compared to the same quarter last year. Analysts forecast that Sunnova Energy International Inc. will post -1.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the transaction, the insider now owns 409,045 shares in the company, valued at $4,626,298.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.50% of the company's stock.

Institutional Trading of Sunnova Energy International

Several large investors have recently made changes to their positions in the company. Handelsbanken Fonder AB raised its stake in shares of Sunnova Energy International by 9.1% during the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company's stock valued at $71,097,000 after acquiring an additional 611,452 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Sunnova Energy International during the second quarter worth $1,042,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Sunnova Energy International by 23.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 357,781 shares of the company's stock worth $1,996,000 after buying an additional 67,749 shares during the last quarter. Sylebra Capital LLC bought a new position in Sunnova Energy International during the second quarter worth $30,783,000. Finally, Vanguard Group Inc. raised its stake in Sunnova Energy International by 0.8% during the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company's stock worth $64,782,000 after buying an additional 81,653 shares during the last quarter.

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.