Sunnova Energy International (NYSE:NOVA) Stock Price Up 6.9% After Insider Buying Activity

Shares of Sunnova Energy International Inc. (NYSE:NOVA – Get Rating) rose 6.9% during trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $16.85 and last traded at $16.66. Approximately 1,262,796 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 4,133,878 shares. The stock had previously closed at $15.59.

Specifically, insider Kelsey Hultberg sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $14.03, for a total transaction of $33,672.00. Following the completion of the sale, the insider now directly owns 19,974 shares in the company, valued at $280,235.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Kelsey Hultberg sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $14.03, for a total transaction of $33,672.00. Following the transaction, the insider now directly owns 19,974 shares of the company’s stock, valued at $280,235.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Akbar Mohamed acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was purchased at an average cost of $14.37 per share, for a total transaction of $143,700.00. Following the completion of the purchase, the director now directly owns 83,689 shares of the company’s stock, valued at $1,202,610.93. The disclosure for this purchase can be found here. Insiders purchased 11,000 shares of company stock worth $158,116 over the last three months. Insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

NOVA has been the topic of a number of recent research reports. Scotiabank initiated coverage on shares of Sunnova Energy International in a report on Thursday, March 2nd. They set a “sector outperform” rating and a $28.00 price target on the stock. Barclays cut their price target on shares of Sunnova Energy International from $31.00 to $27.00 in a report on Tuesday, April 18th. Capital One Financial reiterated an “overweight” rating on shares of Sunnova Energy International in a report on Tuesday, March 21st. KeyCorp dropped their target price on shares of Sunnova Energy International from $39.00 to $34.00 in a report on Tuesday, April 18th. Finally, Evercore ISI dropped their target price on shares of Sunnova Energy International from $35.00 to $31.00 and set an “outperform” rating on the stock in a report on Tuesday, February 14th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.95.

Sunnova Energy International Trading Up 4.1 %

The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 3.18. The firm’s 50-day moving average price is $15.52 and its 200 day moving average price is $18.16. The company has a market capitalization of $1.89 billion, a P/E ratio of -9.33 and a beta of 2.08.

Sunnova Energy International (NYSE:NOVA – Get Rating) last posted its earnings results on Wednesday, April 26th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Sunnova Energy International had a negative return on equity of 13.47% and a negative net margin of 30.75%. The business had revenue of $161.70 million for the quarter, compared to the consensus estimate of $159.54 million. During the same period in the previous year, the firm earned ($0.30) earnings per share. The company’s revenue was up 146.0% on a year-over-year basis. As a group, equities research analysts predict that Sunnova Energy International Inc. will post -1.34 earnings per share for the current year.

Institutional Investors Weigh In On Sunnova Energy International

A number of institutional investors have recently added to or reduced their stakes in NOVA. Mariner LLC boosted its stake in Sunnova Energy International by 0.5% in the fourth quarter. Mariner LLC now owns 123,835 shares of the company’s stock valued at $2,230,000 after acquiring an additional 587 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Sunnova Energy International by 2.5% in the fourth quarter. Advisors Asset Management Inc. now owns 24,399 shares of the company’s stock valued at $439,000 after acquiring an additional 591 shares during the last quarter. Kepos Capital LP boosted its stake in Sunnova Energy International by 18.1% in the fourth quarter. Kepos Capital LP now owns 4,012 shares of the company’s stock valued at $72,000 after acquiring an additional 615 shares during the last quarter. Cim Investment Management Inc. boosted its stake in Sunnova Energy International by 3.6% in the first quarter. Cim Investment Management Inc. now owns 19,647 shares of the company’s stock valued at $307,000 after acquiring an additional 676 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in Sunnova Energy International by 3.4% in the first quarter. Ensign Peak Advisors Inc now owns 21,510 shares of the company’s stock valued at $496,000 after acquiring an additional 710 shares during the last quarter.

Sunnova Energy International Company Profile

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Sunnova Energy International, Inc operates as a residential energy service provider. It offers solar energy systems, electric vehicle chargers, and home solar protection. The company was founded by William Jackson Berger in 2012 and is headquartered in Houston, TX.