Sunnova Energy International Inc. (NYSE:NOVA – Get Rating) shot up 4.7% during mid-day trading on Wednesday . The stock traded as high as $27.68 and last traded at $27.67. 12,271 shares traded hands during trading, a decline of 99% from the average session volume of 2,281,926 shares. The stock had previously closed at $26.43.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on NOVA. Wells Fargo & Company boosted their target price on Sunnova Energy International from $22.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. boosted their price target on Sunnova Energy International from $43.00 to $54.00 and gave the stock an "overweight" rating in a research note on Monday, August 8th. Barclays initiated coverage on Sunnova Energy International in a research note on Friday, August 5th. They set an "overweight" rating and a $35.00 price target on the stock. B. Riley boosted their price target on Sunnova Energy International from $26.00 to $35.00 in a research note on Friday, July 29th. Finally, Piper Sandler lowered Sunnova Energy International from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $27.00 to $23.00 in a research note on Tuesday, July 19th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $39.14.
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The business's 50 day moving average is $24.90 and its 200 day moving average is $21.90. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.73 and a quick ratio of 1.73.
Sunnova Energy International (NYSE:NOVA – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.32) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.32). The business had revenue of $147.01 million for the quarter, compared to the consensus estimate of $86.90 million. Sunnova Energy International had a negative net margin of 32.41% and a negative return on equity of 8.70%. Sunnova Energy International's revenue for the quarter was up 120.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.42) EPS. Equities analysts forecast that Sunnova Energy International Inc. will post -1.27 EPS for the current year.Insider Activity
In related news, insider William J. Berger sold 150,000 shares of Sunnova Energy International stock in a transaction on Monday, August 8th. The shares were sold at an average price of $30.04, for a total value of $4,506,000.00. Following the transaction, the insider now owns 301,142 shares in the company, valued at approximately $9,046,305.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sunnova Energy International news, insider Meghan Nutting sold 2,999 shares of the company's stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $24.51, for a total value of $73,505.49. Following the completion of the sale, the insider now owns 38,690 shares of the company's stock, valued at $948,291.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William J. Berger sold 150,000 shares of the company's stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $30.04, for a total transaction of $4,506,000.00. Following the completion of the transaction, the insider now owns 301,142 shares of the company's stock, valued at approximately $9,046,305.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,999 shares of company stock worth $4,635,505. 4.20% of the stock is owned by corporate insiders.
Institutional Trading of Sunnova Energy International
A number of large investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in shares of Sunnova Energy International by 236.4% in the first quarter. Captrust Financial Advisors now owns 1,487 shares of the company's stock valued at $34,000 after purchasing an additional 1,045 shares during the period. FinTrust Capital Advisors LLC bought a new position in Sunnova Energy International during the second quarter worth about $38,000. Sierra Capital LLC bought a new position in Sunnova Energy International in the 2nd quarter valued at about $58,000. US Bancorp DE increased its holdings in Sunnova Energy International by 168.8% in the 1st quarter. US Bancorp DE now owns 2,809 shares of the company's stock valued at $65,000 after buying an additional 1,764 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its holdings in Sunnova Energy International by 198.1% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 3,073 shares of the company's stock valued at $71,000 after buying an additional 2,042 shares during the period.
About Sunnova Energy International
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Sunnova Energy International Inc provides residential energy services 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 diagnostics services. As of December 31, 2021, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,140 megawatts serving over 195,000 customers.
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