Sunnova Energy International (NYSE:NOVA) Shares Up 21.4% – Time to Buy?

Sunnova Energy International Inc. (NYSE:NOVA)’s share price shot up 21.4% during mid-day trading on Thursday . The stock traded as high as $4.17 and last traded at $4.14. 11,013,211 shares changed hands during mid-day trading, an increase of 35% from the average session volume of 8,174,793 shares. The stock had previously closed at $3.41.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NOVA. Robert W. Baird lowered their price target on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Wolfe Research lowered shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. 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 report on Monday, August 5th. Scotiabank upped their target price on shares of Sunnova Energy International from $10.00 to $14.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 6th. Finally, Guggenheim lowered shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.89.

Sunnova Energy International Trading Down 6.9 %

The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $468.56 million, a price-to-earnings ratio of -1.12 and a beta of 2.26. The business’s 50-day simple moving average is $7.34 and its 200-day simple moving average is $6.88.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly 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 firm 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 business’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.53) earnings per share. On average, research analysts expect that Sunnova Energy International Inc. will post -2.24 earnings per share for the current fiscal year.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the firm’s 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 sale, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. This trade represents a 15.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunnova Energy International

Hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB raised its holdings in Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after buying an additional 611,452 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Sunnova Energy International by 23.4% during the 2nd 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 period. Susquehanna Fundamental Investments LLC acquired a new stake in Sunnova Energy International during the 2nd quarter worth approximately $1,042,000. International Assets Investment Management LLC raised its holdings in Sunnova Energy International by 37,400.0% during the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after buying an additional 2,992 shares during the period. Finally, Sylebra Capital LLC acquired a new stake in Sunnova Energy International during the 2nd quarter worth approximately $30,783,000.

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.