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

Sunnova Energy International Inc. (NYSE:NOVA) shares 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 traded.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays dropped their target price on shares of Sunnova Energy International from $18.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. 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 raised their price target on shares of Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Wells Fargo & Company lifted their target price on shares of Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th. Finally, 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. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.26.

Sunnova Energy International Price Performance

The company has a fifty day moving average of $9.60 and a 200 day moving average of $6.72. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $1.05 billion, a P/E ratio of -2.54 and a beta of 2.21.

Sunnova Energy International (NYSE:NOVA) last announced its 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. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 8.85%. The company had revenue of $219.60 million during the quarter, compared to the consensus estimate of $220.38 million. During the same quarter in the prior year, the company posted ($0.74) earnings per share. The firm’s revenue for the quarter was up 32.0% on a year-over-year basis. Sell-side analysts predict that Sunnova Energy International Inc. will post -1.8 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction 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 $4,626,298.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Peoples Bank KS bought a new stake in Sunnova Energy International during the second quarter valued at about $56,000. Caxton Associates LP acquired a new position in shares of Sunnova Energy International in the 1st quarter valued at $62,000. First Trust Direct Indexing L.P. purchased a new stake in shares of Sunnova Energy International in the 1st quarter valued at $66,000. Presidio Capital Management LLC purchased a new stake in Sunnova Energy International during the 2nd quarter worth about $67,000. Finally, nVerses Capital LLC increased its holdings in Sunnova Energy International by 237.8% during the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after purchasing an additional 8,800 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.