Sunnova Energy International (NYSE:NOVA) Shares Gap Down to $9.10

Sunnova Energy International Inc. (NYSE:NOVA) gapped down prior to trading on Wednesday . The stock had previously closed at $9.10, but opened at $8.90. Sunnova Energy International shares last traded at $8.63, with a volume of 581,485 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NOVA shares. Morgan Stanley upped their target price on Sunnova Energy International from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group increased their price objective on Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Guggenheim increased their target price on Sunnova Energy International from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada increased their target price on Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Piper Sandler increased their price objective on Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sunnova Energy International has an average rating of “Moderate Buy” and a consensus price target of $15.26.

Sunnova Energy International Trading Down 6.8 %

The business’s 50-day moving average is $9.60 and its two-hundred day moving average is $6.72. The firm has a market cap of $1.05 billion, a P/E ratio of -2.54 and a beta of 2.21. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.27. The business had revenue of $219.60 million during the quarter, compared to the consensus estimate of $220.38 million. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 8.85%. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.74) EPS. As a group, analysts expect that Sunnova Energy International Inc. will post -1.8 earnings per share for the current fiscal year.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the sale, the insider now owns 409,045 shares in the company, valued at approximately $4,626,298.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunnova Energy International

Several institutional investors and hedge funds have recently modified their holdings of NOVA. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Sunnova Energy International by 23.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 357,781 shares of the company’s stock worth $1,996,000 after purchasing an additional 67,749 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Sunnova Energy International in the second quarter valued at approximately $2,851,000. Sylebra Capital LLC bought a new position in Sunnova Energy International during the 2nd quarter worth approximately $30,783,000. Susquehanna Fundamental Investments LLC bought a new position in Sunnova Energy International during the 2nd quarter worth approximately $1,042,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Sunnova Energy International by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock valued at $315,000 after acquiring an additional 3,559 shares in the last quarter.

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.