Sunnova Energy International (NYSE:NOVA) Shares Down 7.3% – Should You Sell?

Sunnova Energy International Inc. (NYSE:NOVA)’s stock price fell 7.3% during trading on Tuesday . The company traded as low as $4.93 and last traded at $4.95. 887,977 shares were traded during trading, a decline of 89% from the average session volume of 8,389,434 shares. The stock had previously closed at $5.34.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOVA. Deutsche Bank Aktiengesellschaft cut their target price on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating on the stock in a research note on Friday, November 1st. Guggenheim cut shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird lowered their target price on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Piper Sandler cut their price target on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday. Finally, Jefferies Financial Group initiated coverage on Sunnova Energy International in a research report on Thursday, October 10th. They issued a “buy” rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Sunnova Energy International has a consensus rating of “Moderate Buy” and an average target price of $10.73.

Sunnova Energy International Stock Down 5.6 %

The company has a market cap of $629.75 million, a price-to-earnings ratio of -1.48 and a beta of 2.26. The stock has a fifty day moving average price of $6.54 and a two-hundred day moving average price of $6.92. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). The business had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company’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) EPS. As a group, sell-side analysts expect that Sunnova Energy International Inc. will post -2.29 EPS for the current year.

Insider Transactions at Sunnova Energy International

In other news, Director Akbar Mohamed bought 54,717 shares of Sunnova Energy International stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $3.80 per share, for a total transaction of $207,924.60. Following the purchase, the director now directly owns 302,654 shares in the company, valued at $1,150,085.20. The trade was a 22.07 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Eric Michael Williams bought 13,800 shares of Sunnova Energy International stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $3.60 per share, with a total value of $49,680.00. Following the completion of the transaction, the chief financial officer now directly owns 13,800 shares in the company, valued at approximately $49,680. This trade represents a ∞ increase in their ownership of the stock. 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. 4.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of large investors have recently added to or reduced their stakes in NOVA. Peoples Bank KS purchased a new position in shares of Sunnova Energy International during the second quarter valued at approximately $56,000. Caxton Associates LP bought a new position in Sunnova Energy International during the first quarter valued at approximately $62,000. Presidio Capital Management LLC purchased a new position in shares of Sunnova Energy International in the 2nd quarter worth $67,000. nVerses Capital LLC lifted its stake in shares of Sunnova Energy International by 237.8% in the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after purchasing an additional 8,800 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Sunnova Energy International during the second quarter valued at $78,000.

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.