Sunnova Energy International (NYSE:NOVA) Shares Gap Up – What’s Next?

Shares of Sunnova Energy International Inc. (NYSE:NOVA) gapped up prior to trading on Tuesday . The stock had previously closed at $4.00, but opened at $4.20. Sunnova Energy International shares last traded at $4.09, with a volume of 2,616,808 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NOVA shares. Jefferies Financial Group began coverage on Sunnova Energy International in a report on Thursday, October 10th. They set a “buy” rating and a $15.00 price target on the stock. Piper Sandler reduced their price target on shares of Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, November 22nd. Citigroup dropped their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a research report on Friday, November 1st. Finally, BNP Paribas lowered Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target on the stock. in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Sunnova Energy International currently has an average rating of “Hold” and a consensus target price of $10.63.

Sunnova Energy International Price Performance

The firm has a market cap of $519.80 million, a P/E ratio of -1.19 and a beta of 2.22. The business’s fifty day simple moving average is $4.99 and its 200-day simple moving average is $6.95. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). The firm had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.53) earnings per share. As a group, analysts forecast that Sunnova Energy International Inc. will post -2.44 EPS for the current fiscal year.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, CFO Eric Michael Williams acquired 13,800 shares of the stock in a transaction dated Monday, November 18th. The stock was purchased at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the acquisition, the chief financial officer now owns 13,800 shares in the company, valued at $49,680. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Akbar Mohamed bought 54,717 shares of Sunnova Energy International stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $3.80 per share, for a total transaction of $207,924.60. Following the acquisition, the director now owns 302,654 shares in the company, valued at $1,150,085.20. The trade was a 22.07 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 118,517 shares of company stock valued at $439,605 over the last three months. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sunnova Energy International

A number of institutional investors have recently added to or reduced their stakes in NOVA. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Sunnova Energy International by 56.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after acquiring an additional 5,118,552 shares during the last quarter. Sylebra Capital LLC grew its position in Sunnova Energy International by 125.6% during the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after purchasing an additional 6,926,399 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Sunnova Energy International during the 3rd quarter valued at about $76,550,000. Handelsbanken Fonder AB increased its stake in Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after purchasing an additional 611,452 shares in the last quarter. Finally, Electron Capital Partners LLC raised its holdings in Sunnova Energy International by 24.5% in the second quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock worth $16,768,000 after buying an additional 591,514 shares during the last quarter.

Sunnova Energy International Company Profile

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.