Sunnova Energy International (NYSE:NOVA) Shares Up 5%

Sunnova Energy International Inc. (NYSE:NOVA) shares were up 5% during trading on Wednesday . The company traded as high as $7.89 and last traded at $7.76. Approximately 3,673,861 shares traded hands during trading, a decline of 56% from the average daily volume of 8,379,884 shares. The stock had previously closed at $7.39.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reissued an “equal weight” rating and issued a $6.00 price objective (down from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. B. Riley decreased their price target on shares of Sunnova Energy International from $21.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Morgan Stanley dropped their price objective on shares of Sunnova Energy International from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. Mizuho lowered their price target on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Finally, Truist Financial reduced their price objective on Sunnova Energy International from $16.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $15.04.

Sunnova Energy International Stock Up 6.6 %

The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41. The firm has a 50 day moving average price of $5.72 and a 200-day moving average price of $6.66. The firm has a market cap of $996.80 million, a price-to-earnings ratio of -2.39 and a beta of 2.19.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.22. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The company had revenue of $160.90 million for the quarter, compared to the consensus estimate of $193.78 million. During the same quarter in the prior year, the firm earned ($0.70) earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts forecast that Sunnova Energy International Inc. will post -1.89 EPS for the current year.

Institutional Investors Weigh In On Sunnova Energy International

Several hedge funds have recently modified their holdings of NOVA. Vanguard Group Inc. grew its position in shares of Sunnova Energy International by 3.8% in the third quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company’s stock valued at $107,532,000 after purchasing an additional 379,032 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Sunnova Energy International by 53.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 101,823 shares of the company’s stock worth $1,553,000 after buying an additional 35,338 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Sunnova Energy International during the 4th quarter valued at about $161,000. DekaBank Deutsche Girozentrale increased its stake in shares of Sunnova Energy International by 8.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock valued at $325,000 after acquiring an additional 1,554 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Sunnova Energy International during the 4th quarter worth about $157,000.

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.