Sunnova Energy International (NYSE:NOVA) Stock Price Down 5.4% – Here’s What Happened

Sunnova Energy International Inc. (NYSE:NOVA)’s stock price was down 5.4% during trading on Monday . The company traded as low as $5.19 and last traded at $5.24. Approximately 1,866,486 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 8,396,219 shares. The stock had previously closed at $5.54.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Scotiabank boosted their target price on Sunnova Energy International from $10.00 to $14.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased 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 report on Friday, November 1st. Jefferies Financial Group assumed coverage on Sunnova Energy International in a research note on Thursday, October 10th. They issued a “buy” rating and a $15.00 price objective for the company. Royal Bank of Canada raised their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Barclays cut their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.73.

Sunnova Energy International Price Performance

The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $653.50 million, a P/E ratio of -1.54 and a beta of 2.26. The company has a fifty day moving average price of $6.03 and a 200 day moving average price of $6.94.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned ($0.53) earnings per share. On average, sell-side analysts forecast that Sunnova Energy International Inc. will post -2.37 EPS for the current fiscal year.

Insider Activity

In other news, CFO Eric Michael Williams purchased 13,800 shares of the stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the transaction, the chief financial officer now owns 13,800 shares in the company, valued at $49,680. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Akbar Mohamed bought 54,717 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average cost of $3.80 per share, for a total transaction of $207,924.60. Following the completion of the transaction, the director now owns 302,654 shares of the company’s stock, valued at $1,150,085.20. This represents a 22.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 118,517 shares of company stock valued at $439,605. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds have recently bought and sold shares of the business. Peoples Bank KS acquired a new position in Sunnova Energy International during the second quarter worth $56,000. Presidio Capital Management LLC acquired a new position in shares of Sunnova Energy International in the second quarter valued at $67,000. nVerses Capital LLC lifted its holdings in shares of Sunnova Energy International by 237.8% during the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after acquiring an additional 8,800 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in Sunnova Energy International during the second quarter worth about $78,000. Finally, AE Wealth Management LLC bought a new position in Sunnova Energy International during the 2nd quarter valued at about $81,000.

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.