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

Sunnova Energy International Inc. (NYSE:NOVA) fell 7.3% on Tuesday . The stock traded as low as $4.93 and last traded at $4.95. 887,977 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 8,389,434 shares. The stock had previously closed at $5.34.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NOVA shares. Wolfe Research downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Susquehanna increased their target price on Sunnova Energy International from $12.00 to $14.00 and gave the company a “positive” rating in a research report on Friday, August 2nd. Scotiabank increased their target price on shares of Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 6th. BNP Paribas cut shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target for the company. in a research note on Friday, November 8th. Finally, The Goldman Sachs Group lifted their price target on shares of Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. 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 quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The stock’s 50 day moving average price is $6.54 and its 200-day moving average price is $6.92. The stock has a market capitalization of $629.75 million, a PE ratio of -1.48 and a beta of 2.26.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). The business had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. Sunnova Energy International’s revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.53) earnings per share. As a group, equities analysts forecast that Sunnova Energy International Inc. will post -2.29 EPS for the current year.

Insider Buying and Selling at Sunnova Energy International

In related news, CFO Eric Michael Williams purchased 13,800 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were acquired 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 of the company’s stock, valued at $49,680. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Akbar Mohamed purchased 54,717 shares of the stock in a transaction dated Friday, November 15th. The shares were purchased at an average price 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 in the company, valued at $1,150,085.20. This trade represents a 22.07 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 118,517 shares of company stock valued at $439,605 in the last ninety days. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Peapack Gladstone Financial Corp grew its holdings 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 last quarter. Sanctuary Advisors LLC raised its stake in shares of Sunnova Energy International by 36.1% in the third quarter. Sanctuary Advisors LLC now owns 695,582 shares of the company’s stock worth $6,775,000 after acquiring an additional 184,683 shares during the last quarter. Virtu Financial LLC acquired a new stake in Sunnova Energy International in the third quarter worth about $433,000. Geode Capital Management LLC boosted its position in shares of Sunnova Energy International by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company’s stock worth $24,965,000 after purchasing an additional 88,945 shares during the last quarter. Finally, Sylebra Capital LLC increased its stake in Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after purchasing an additional 6,926,399 shares in the last quarter.

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.