Sunnova Energy International (NYSE:NOVA) Stock Price Down 7.3% – Time to Sell?

Sunnova Energy International Inc. (NYSE:NOVA)’s share price traded down 7.3% during trading on Tuesday . The company traded as low as $4.93 and last traded at $4.95. 887,977 shares changed hands 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 Analyst Weigh In

Several research analysts have issued reports on the company. BNP Paribas cut Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price on the stock. in a research report on Friday, November 8th. Royal Bank of Canada raised their price objective 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. Citigroup reduced their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. BMO Capital Markets reiterated a “market perform” rating and set a $8.00 price target (down previously from $10.00) on shares of Sunnova Energy International in a research note on Friday, November 1st. Finally, Jefferies Financial Group initiated coverage on Sunnova Energy International in a report on Thursday, October 10th. They issued a “buy” rating and a $15.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.73.

Sunnova Energy International Stock Up 1.5 %

The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The company has a market capitalization of $677.25 million, a PE ratio of -1.62 and a beta of 2.26. The company’s 50 day moving average is $6.26 and its two-hundred day moving average is $6.92.

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 analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $238.23 million. During the same quarter in the previous year, the business earned ($0.53) EPS. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, analysts anticipate that Sunnova Energy International Inc. will post -2.37 earnings per share for the current year.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, Director Akbar Mohamed purchased 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average price of $3.64 per share, with a total value of $182,000.00. Following the completion of the purchase, the director now directly owns 352,654 shares in the company, valued at $1,283,660.56. This trade represents a 16.52 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Eric Michael Williams purchased 13,800 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $3.60 per share, with a total value of $49,680.00. Following the acquisition, the chief financial officer now owns 13,800 shares in the company, valued at $49,680. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 118,517 shares of company stock worth $439,605 in the last quarter. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Sunnova Energy International

A number of institutional investors have recently bought and sold shares of NOVA. First Affirmative Financial Network boosted its stake in shares of Sunnova Energy International by 12.9% during the 2nd quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock worth $83,000 after purchasing an additional 1,691 shares during the period. First Trust Direct Indexing L.P. increased its stake in Sunnova Energy International by 11.6% in the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock worth $189,000 after purchasing an additional 2,016 shares during the period. Ballentine Partners LLC lifted its position in shares of Sunnova Energy International by 15.9% during the third quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock worth $210,000 after purchasing an additional 2,956 shares during the last quarter. International Assets Investment Management LLC lifted 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 valued at $308,000 after buying an additional 2,992 shares in the last quarter. Finally, Peapack Gladstone Financial Corp boosted its position in Sunnova Energy International by 11.0% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock valued at $314,000 after buying an additional 3,200 shares during the period.

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.