Sunnova Energy International (NYSE:NOVA) Shares Up 21.4% – Time to Buy?

Sunnova Energy International Inc. (NYSE:NOVA) shares traded up 21.4% on Thursday . The stock traded as high as $4.17 and last traded at $4.14. 11,013,211 shares were traded during trading, an increase of 35% from the average session volume of 8,174,793 shares. The stock had previously closed at $3.41.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Piper Sandler raised their price target on shares of Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. BMO Capital Markets reaffirmed a “market perform” rating and set a $8.00 price target (down from $10.00) on shares of Sunnova Energy International in a research note on Friday, November 1st. Susquehanna raised their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a research note on Friday, November 1st. Finally, Barclays decreased their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a research note 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’s stock. According to MarketBeat, Sunnova Energy International currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.89.

Sunnova Energy International Stock Performance

The firm has a market cap of $468.56 million, a price-to-earnings ratio of -1.12 and a beta of 2.26. The stock has a 50 day moving average of $7.34 and a 200 day moving average of $6.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last released 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 business had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same quarter in the prior year, the firm earned ($0.53) EPS. The business’s revenue was up 18.6% on a year-over-year basis. As a group, analysts anticipate that Sunnova Energy International Inc. will post -2.24 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of the business’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 sale, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. The trade was a 15.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Sunnova Energy International by 3.6% during the third 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. Sylebra Capital LLC boosted its holdings 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 acquiring an additional 6,926,399 shares during the last quarter. XTX Topco Ltd bought a new stake in Sunnova Energy International in the third quarter valued at approximately $875,000. Paloma Partners Management Co bought a new stake in Sunnova Energy International in the third quarter valued at approximately $151,000. Finally, Erste Asset Management GmbH bought a new stake in Sunnova Energy International in the third quarter valued at approximately $76,550,000.

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.