Sunnova Energy International (NYSE:NOVA) Trading Up 21.4% – Here’s What Happened

Sunnova Energy International Inc. (NYSE:NOVA) shot up 21.4% 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.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NOVA shares. Morgan Stanley boosted their price target on shares of Sunnova Energy International from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, August 21st. Royal Bank of Canada boosted their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Guggenheim downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price target on Sunnova Energy International from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. Finally, Susquehanna raised their price target on Sunnova Energy International from $12.00 to $14.00 and gave the company a “positive” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.23.

Sunnova Energy International Stock Performance

The firm’s 50 day simple moving average is $7.62 and its 200-day simple moving average is $6.91. 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 $503.55 million, a price-to-earnings ratio of -1.10 and a beta of 2.26.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) 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 company had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. During the same period last year, the business earned ($0.53) EPS. The company’s quarterly revenue was up 18.6% on a year-over-year basis. Analysts expect that Sunnova Energy International Inc. will post -2.24 EPS for the current 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 dated Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the transaction, the insider now directly owns 409,045 shares in the company, valued at $4,626,298.95. This trade represents a 15.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is owned by company insiders.

Institutional Trading of Sunnova Energy International

A number of institutional investors and hedge funds have recently modified their holdings of NOVA. Rockefeller Capital Management L.P. boosted its holdings in Sunnova Energy International by 4.2% during the third quarter. Rockefeller Capital Management L.P. now owns 262,339 shares of the company’s stock valued at $2,555,000 after acquiring an additional 10,520 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Sunnova Energy International by 3.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 371,095 shares of the company’s stock valued at $3,614,000 after purchasing an additional 13,314 shares during the period. Quantbot Technologies LP bought a new position in Sunnova Energy International in the 3rd quarter worth approximately $2,376,000. DRW Securities LLC acquired a new position in shares of Sunnova Energy International during the third quarter worth approximately $989,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Sunnova Energy International by 17.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company’s stock valued at $8,780,000 after acquiring an additional 134,065 shares during the period.

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.