Sunnova Energy International (NYSE:NOVA) Stock Price Down 2.5%

Sunnova Energy International Inc. (NYSE:NOVAGet Rating) shares dropped 2.5% on Friday . The company traded as low as $27.16 and last traded at $27.19. Approximately 30,190 shares changed hands during trading, a decline of 99% from the average daily volume of 3,228,916 shares. The stock had previously closed at $27.90.

Analyst Ratings Changes

NOVA has been the subject of a number of recent analyst reports. Northland Securities initiated coverage on shares of Sunnova Energy International in a research report on Wednesday, May 18th. They set an “outperform” rating and a $30.00 price target for the company. Barclays initiated coverage on shares of Sunnova Energy International in a research report on Friday, August 5th. They set an “overweight” rating and a $35.00 price target for the company. Piper Sandler cut shares of Sunnova Energy International from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $27.00 to $23.00 in a research report on Tuesday, July 19th. B. Riley lifted their price target on shares of Sunnova Energy International from $26.00 to $35.00 in a research report on Friday, July 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Sunnova Energy International from $22.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.14.

Sunnova Energy International Stock Up 0.8 %

The business’s 50 day moving average is $23.80 and its 200-day moving average is $21.44. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market cap of $3.23 billion, a PE ratio of -28.13 and a beta of 2.30.

Sunnova Energy International (NYSE:NOVAGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.01). The company had revenue of $147.01 million for the quarter, compared to analysts’ expectations of $86.90 million. Sunnova Energy International had a negative return on equity of 8.70% and a negative net margin of 32.41%. The firm’s quarterly revenue was up 120.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.42) EPS. As a group, analysts predict that Sunnova Energy International Inc. will post -1.27 EPS for the current year.

Insider Transactions at Sunnova Energy International

In other news, insider Kelsey Hultberg sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $28.00, for a total transaction of $56,000.00. Following the completion of the sale, the insider now owns 15,493 shares in the company, valued at approximately $433,804. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Kelsey Hultberg sold 2,000 shares of Sunnova Energy International stock in a transaction on Friday, August 5th. The shares were sold at an average price of $28.00, for a total value of $56,000.00. Following the transaction, the insider now directly owns 15,493 shares of the company’s stock, valued at approximately $433,804. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Meghan Nutting sold 2,999 shares of Sunnova Energy International stock in a transaction on Monday, August 1st. The shares were sold at an average price of $24.51, for a total transaction of $73,505.49. Following the completion of the transaction, the insider now directly owns 38,690 shares in the company, valued at $948,291.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,999 shares of company stock worth $4,635,505. 4.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunnova Energy International

A number of institutional investors have recently modified their holdings of the business. Amundi increased its holdings in shares of Sunnova Energy International by 29.9% in the 2nd quarter. Amundi now owns 2,439,236 shares of the company’s stock valued at $46,001,000 after acquiring an additional 561,815 shares during the period. Legal & General Group Plc increased its stake in Sunnova Energy International by 24.1% in the 2nd quarter. Legal & General Group Plc now owns 95,204 shares of the company’s stock valued at $1,755,000 after buying an additional 18,495 shares during the period. First Republic Investment Management Inc. increased its stake in Sunnova Energy International by 9.1% in the 2nd quarter. First Republic Investment Management Inc. now owns 13,052 shares of the company’s stock valued at $241,000 after buying an additional 1,094 shares during the period. Merewether Investment Management LP increased its stake in Sunnova Energy International by 97.0% in the 2nd quarter. Merewether Investment Management LP now owns 908,055 shares of the company’s stock valued at $16,735,000 after buying an additional 447,103 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Sunnova Energy International by 13.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 34,673 shares of the company’s stock valued at $639,000 after buying an additional 4,190 shares during the period.

About Sunnova Energy International

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Sunnova Energy International Inc provides residential energy services 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 diagnostics services. As of December 31, 2021, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,140 megawatts serving over 195,000 customers.

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