Sunnova Energy International (NYSE:NOVA) Shares Gap Down to $11.22

Sunnova Energy International Inc. (NYSE:NOVA)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $11.22, but opened at $10.99. Sunnova Energy International shares last traded at $10.68, with a volume of 516,802 shares traded.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Scotiabank increased their target price on Sunnova Energy International from $10.00 to $14.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 6th. Piper Sandler boosted their price objective on Sunnova Energy International from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Guggenheim raised their target price on 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, 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. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.26.

Sunnova Energy International Stock Performance

The business has a fifty day moving average of $8.48 and a 200 day moving average of $6.24. The company has a market cap of $1.32 billion, a P/E ratio of -3.16 and a beta of 2.21. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 3.11.

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

Insider Activity

In other news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the completion of the transaction, the insider now directly owns 409,045 shares in the company, valued at $4,626,298.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunnova Energy International

A number of institutional investors have recently made changes to their positions in NOVA. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Sunnova Energy International by 2.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock worth $663,000 after buying an additional 1,094 shares in the last quarter. First Affirmative Financial Network grew its stake in shares of Sunnova Energy International by 12.9% in the second quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock worth $83,000 after acquiring an additional 1,691 shares during the period. Manchester Capital Management LLC lifted its position in Sunnova Energy International by 2,959.7% during the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after purchasing an additional 1,835 shares during the period. Victory Capital Management Inc. boosted its holdings in Sunnova Energy International by 23.2% in the fourth quarter. Victory Capital Management Inc. now owns 14,310 shares of the company’s stock worth $218,000 after purchasing an additional 2,694 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Sunnova Energy International by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock worth $315,000 after purchasing an additional 3,559 shares during 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.