Sunnova Energy International (NYSE:NOVA) Shares Up 6%

Sunnova Energy International Inc. (NYSE:NOVA) shares shot up 6% during mid-day trading on Monday . The stock traded as high as $6.07 and last traded at $5.97. 2,268,045 shares traded hands during trading, a decline of 73% from the average session volume of 8,437,612 shares. The stock had previously closed at $5.63.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NOVA shares. Wells Fargo & Company reissued an “equal weight” rating and issued a $6.00 target price (down from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. BMO Capital Markets dropped their price objective on shares of Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. Mizuho decreased their target price on shares of Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. The Goldman Sachs Group dropped their price target on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. Finally, Scotiabank decreased their price objective on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 29th. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.73.

Sunnova Energy International Price Performance

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 has a fifty day simple moving average of $5.03 and a 200 day simple moving average of $7.19. The company has a market capitalization of $756.28 million, a PE ratio of -1.80 and a beta of 2.19.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The firm had revenue of $160.90 million for the quarter, compared to analyst estimates of $193.78 million. During the same quarter last year, the firm posted ($0.70) earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts anticipate that Sunnova Energy International Inc. will post -1.85 EPS for the current year.

Institutional Investors Weigh In On Sunnova Energy International

Large investors have recently modified their holdings of the business. First Affirmative Financial Network boosted its stake in shares of Sunnova Energy International by 12.9% during the second quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock valued at $83,000 after purchasing an additional 1,691 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in Sunnova Energy International by 3,168.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company’s stock valued at $3,519,000 after acquiring an additional 556,563 shares in the last quarter. Swedbank AB bought a new stake in Sunnova Energy International during the 1st quarter valued at $2,086,000. Yaupon Capital Management LP increased its holdings in shares of Sunnova Energy International by 7.4% in the 1st quarter. Yaupon Capital Management LP now owns 299,392 shares of the company’s stock valued at $1,835,000 after acquiring an additional 20,725 shares during the period. Finally, Tidal Investments LLC bought a new position in shares of Sunnova Energy International in the 1st quarter worth $291,000.

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.