Sunnova Energy International (NYSE:NOVA) Stock Price Up 5%

Sunnova Energy International Inc. (NYSE:NOVA) rose 5% during trading on Wednesday . The company traded as high as $7.89 and last traded at $7.76. Approximately 3,673,861 shares changed hands during mid-day 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

NOVA has been the subject of a number of analyst reports. BMO Capital Markets lowered their price target on Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating for the company in a research report on Friday, May 3rd. Robert W. Baird lowered their price target on Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Barclays lowered their price target on Sunnova Energy International from $18.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday. Evercore ISI lowered their price target on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, KeyCorp lowered Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.04.

Sunnova Energy International Trading Up 3.0 %

The firm has a 50 day simple moving average of $5.60 and a 200 day simple moving average of $6.65. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $943.49 million, a P/E ratio of -2.19 and a beta of 2.19.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The business had revenue of $160.90 million during the quarter, compared to the consensus estimate of $193.78 million. During the same quarter last year, the company earned ($0.70) EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that Sunnova Energy International Inc. will post -1.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Sunnova Energy International in the 1st quarter worth about $25,000. Manchester Capital Management LLC raised its holdings in shares of Sunnova Energy International by 2,959.7% in the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after acquiring an additional 1,835 shares in the last quarter. Peoples Bank KS purchased a new stake in shares of Sunnova Energy International in the 2nd quarter valued at about $56,000. Caxton Associates LP purchased a new stake in shares of Sunnova Energy International in the 1st quarter valued at about $62,000. Finally, First Trust Direct Indexing L.P. purchased a new stake in shares of Sunnova Energy International in the 1st quarter valued at about $66,000.

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.