Sunnova Energy International (NYSE:NOVA) Trading Up 17.8% - What's Next?

Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report)'s share price rose 17.8% during trading on Thursday . The stock traded as high as $4.04 and last traded at $4.04. Approximately 5,940,816 shares traded hands during trading, a decline of 30% from the average daily volume of 8,439,859 shares. The stock had previously closed at $3.43.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NOVA shares. Morgan Stanley lowered their price target on shares of Sunnova Energy International from $12.00 to $6.00 and set an "equal weight" rating for the company in a report on Friday, November 15th. The Goldman Sachs Group dropped their target price on Sunnova Energy International from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, December 17th. Royal Bank of Canada downgraded Sunnova Energy International from an "outperform" rating to a "sector perform" rating in a report on Monday, December 9th. TD Cowen assumed coverage on Sunnova Energy International in a report on Thursday, December 19th. They set a "hold" rating and a $5.00 price objective on the stock. Finally, Guggenheim cut Sunnova Energy International from a "buy" rating to a "neutral" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $10.24.

Sunnova Energy International Trading Up 16.6 %

The company has a market cap of $499.81 million, a P/E ratio of -1.19 and a beta of 2.22. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The business has a fifty day moving average price of $4.41 and a 200-day moving average price of $6.80.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The business had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The firm's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.53) earnings per share. On average, analysts forecast that Sunnova Energy International Inc. will post -2.44 earnings per share for the current year.

Insider Buying and Selling at Sunnova Energy International

In other news, Director Akbar Mohamed purchased 50,000 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average cost of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the acquisition, the director now owns 352,654 shares in the company, valued at $1,283,660.56. This trade represents a 16.52 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eric Michael Williams acquired 13,800 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $3.60 per share, with a total value of $49,680.00. Following the acquisition, the chief financial officer now owns 13,800 shares in the company, valued at $49,680. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 118,517 shares of company stock worth $439,605 over the last three months. Corporate insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On Sunnova Energy International

A number of large investors have recently modified their holdings of the company. Erste Asset Management GmbH purchased a new position in Sunnova Energy International during the third quarter valued at $76,550,000. Sylebra Capital LLC grew its holdings in Sunnova Energy International by 125.6% during the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company's stock valued at $121,195,000 after purchasing an additional 6,926,399 shares during the period. Handelsbanken Fonder AB raised its position in shares of Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company's stock valued at $71,097,000 after purchasing an additional 611,452 shares during the period. Electron Capital Partners LLC grew its holdings in Sunnova Energy International by 24.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company's stock valued at $16,768,000 after buying an additional 591,514 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Sunnova Energy International during the second quarter valued at approximately $2,851,000.

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.