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

Sunnova Energy International Inc. (NYSE:NOVA) shares gapped up prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NOVA shares. 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 report on Tuesday, August 6th. The Goldman Sachs Group increased their price objective on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Piper Sandler increased their price objective on Sunnova Energy International from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, Truist Financial increased their price objective on Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Sunnova Energy International has an average rating of “Moderate Buy” and an average price target of $12.57.

Sunnova Energy International Trading Up 1.1 %

The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 3.11. The firm has a market cap of $820.33 million, a price-to-earnings ratio of -2.27 and a beta of 2.21. The business has a 50 day moving average of $9.53 and a 200 day moving average of $6.82.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.27. The business had revenue of $219.60 million for the quarter, compared to analyst estimates of $220.38 million. Sunnova Energy International had a negative return on equity of 8.85% and a negative net margin of 45.76%. The business’s revenue for the quarter was up 32.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.74) earnings per share. On average, research analysts forecast that Sunnova Energy International Inc. will post -1.86 earnings per share for the current fiscal year.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $11.31, for a total value of $870,870.00. Following the sale, the insider now directly owns 409,045 shares of the company’s stock, valued at approximately $4,626,298.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

A number of hedge funds have recently added to or reduced their stakes in the business. Sylebra Capital LLC purchased a new position in shares of Sunnova Energy International in the 2nd quarter worth about $30,783,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Sunnova Energy International by 56.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after purchasing an additional 5,118,552 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Sunnova Energy International by 9.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after purchasing an additional 611,452 shares during the period. Electron Capital Partners LLC raised its holdings in shares of Sunnova Energy International by 24.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock worth $16,768,000 after purchasing an additional 591,514 shares during the period. Finally, Westwood Holdings Group Inc. raised its holdings in shares of Sunnova Energy International by 3,168.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company’s stock worth $3,519,000 after purchasing an additional 556,563 shares during the period.

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.