Insider Buying: Sunnova Energy International Inc. (NYSE:NOVA) CFO Buys 13,800 Shares of Stock

Sunnova Energy International Inc. (NYSE:NOVA) CFO Eric Michael Williams purchased 13,800 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average price of $3.60 per share, with a total value of $49,680.00. Following the purchase, the chief financial officer now owns 13,800 shares of the company’s stock, valued at approximately $49,680. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Sunnova Energy International Price Performance

Shares of NOVA stock traded up $0.51 on Wednesday, hitting $3.95. 12,123,300 shares of the company’s stock were exchanged, compared to its average volume of 8,327,101. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. Sunnova Energy International Inc. has a 12 month low of $2.99 and a 12 month high of $16.35. The stock has a market cap of $493.56 million, a P/E ratio of -1.22 and a beta of 2.26. The company has a 50 day moving average of $7.06 and a 200 day moving average of $6.91.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same quarter in the previous year, the company posted ($0.53) EPS. The firm’s revenue was up 18.6% on a year-over-year basis. On average, equities research analysts predict that Sunnova Energy International Inc. will post -2.24 EPS for the current year.

Wall Street Analysts Forecast Growth

NOVA has been the topic of a number of recent analyst reports. Robert W. Baird cut their price objective on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. 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 report on Monday, August 5th. Wolfe Research cut Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. BMO Capital Markets reissued a “market perform” rating and issued 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, Wells Fargo & Company upped their price target on Sunnova Energy International from $6.00 to $9.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.89.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NOVA. First Affirmative Financial Network increased its stake in Sunnova Energy International by 12.9% in the 2nd quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock worth $83,000 after buying an additional 1,691 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in Sunnova Energy International by 11.6% during the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock valued at $189,000 after buying an additional 2,016 shares during the period. Ballentine Partners LLC grew its holdings in Sunnova Energy International by 15.9% in 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 stake in shares of Sunnova Energy International by 37,400.0% during the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after buying an additional 2,992 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Sunnova Energy International by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock valued at $315,000 after purchasing an additional 3,559 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.