Sunnova Energy International (NYSE:NOVA) Trading Down 4.2%

Shares of Sunnova Energy International Inc. (NYSE:NOVA) were down 4.2% during trading on Monday . The stock traded as low as $6.62 and last traded at $6.64. Approximately 396,474 shares were traded during trading, a decline of 95% from the average daily volume of 8,384,762 shares. The stock had previously closed at $6.93.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Evercore ISI cut their price target on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Wells Fargo & Company upped their target price on shares of Sunnova Energy International from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 6th. Truist Financial raised their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, July 29th. Barclays reduced their price objective on Sunnova Energy International from $18.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada lifted their target price on Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.14.

Sunnova Energy International Stock Up 3.3 %

The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. The firm’s fifty day simple moving average is $6.46 and its 200 day simple moving average is $6.25. The stock has a market capitalization of $999.29 million, a price-to-earnings ratio of -2.31 and a beta of 2.19.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.27. The business had revenue of $219.60 million for the quarter, compared to analyst estimates of $220.38 million. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 9.28%. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. During the same period last year, the business posted ($0.74) earnings per share. On average, sell-side analysts forecast that Sunnova Energy International Inc. will post -1.89 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NOVA. Charles Schwab Investment Management Inc. boosted its position in Sunnova Energy International by 7.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 842,130 shares of the company’s stock valued at $12,842,000 after purchasing an additional 61,953 shares during the last quarter. Van ECK Associates Corp lifted its stake in Sunnova Energy International by 124.4% in the 4th quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock valued at $23,841,000 after purchasing an additional 866,705 shares during the last quarter. Quest Partners LLC bought a new position in Sunnova Energy International during the fourth quarter worth about $199,000. Vanguard Group Inc. increased its position 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. Finally, Picton Mahoney Asset Management bought a new stake in Sunnova Energy International in the fourth quarter valued at approximately $3,002,000.

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.