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

Sunnova Energy International Inc. (NYSE:NOVA) shares gapped up before the market opened on Thursday . The stock had previously closed at $6.87, but opened at $7.44. Sunnova Energy International shares last traded at $6.82, with a volume of 2,469,683 shares.

Analyst Ratings Changes

NOVA has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Sunnova Energy International from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group lifted their target price on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Piper Sandler lifted their target price on shares of Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Guggenheim lifted their target price on shares of Sunnova Energy International from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Robert W. Baird boosted their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.57.

Sunnova Energy International Stock Performance

The stock has a market capitalization of $820.33 million, a PE ratio of -2.27 and a beta of 2.21. The firm’s fifty day moving average is $9.53 and its 200-day moving average is $6.82. 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) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.27. The company had revenue of $219.60 million for the quarter, compared to analyst estimates 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 business’s revenue for the quarter was up 32.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.74) earnings per share. As a group, research analysts anticipate that Sunnova Energy International Inc. will post -1.86 earnings per share for the current year.

Insiders Place Their Bets

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the sale, the insider now directly owns 409,045 shares in the company, valued at $4,626,298.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Sunnova Energy International by 56.7% during 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 buying an additional 5,118,552 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Sunnova Energy International by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock valued at $64,782,000 after purchasing an additional 81,653 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Sunnova Energy International by 9.1% in the third 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. Sylebra Capital LLC acquired a new position in Sunnova Energy International in the second quarter valued at approximately $30,783,000. Finally, Electron Capital Partners LLC boosted 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 valued at $16,768,000 after purchasing an additional 591,514 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.