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

Sunnova Energy International Inc. (NYSE:NOVA) shares gapped down before the market opened on Wednesday . The stock had previously closed at $7.06, but opened at $5.25. Sunnova Energy International shares last traded at $4.36, with a volume of 4,597,092 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NOVA shares. Piper Sandler boosted their price objective on shares of Sunnova Energy International from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Wells Fargo & Company upped their price target on Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 6th. Royal Bank of Canada lifted their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Truist Financial raised their price target on Sunnova Energy International from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $8.00 price target (down previously from $10.00) on shares of Sunnova Energy International in a report on Friday, November 1st. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Sunnova Energy International has an average rating of “Moderate Buy” and an average price target of $11.61.

Sunnova Energy International Stock Performance

The stock’s fifty day moving average price is $8.51 and its 200 day moving average price 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 posted its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). The business had revenue of $235.30 million during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.53) EPS. As a group, equities analysts predict that Sunnova Energy International Inc. will post -2.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In related news, insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the sale, the insider now owns 409,045 shares in the company, valued at approximately $4,626,298.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Handelsbanken Fonder AB raised its position 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 worth $71,097,000 after acquiring an additional 611,452 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Sunnova Energy International by 23.4% in the 2nd 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. Susquehanna Fundamental Investments LLC purchased a new position in Sunnova Energy International during the second quarter valued at $1,042,000. Sylebra Capital LLC bought a new stake in Sunnova Energy International during the second quarter valued at about $30,783,000. Finally, Vanguard Group Inc. grew its holdings in Sunnova Energy International by 0.8% during 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 during the period.

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.