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

Sunnova Energy International Inc. (NYSE:NOVA)’s share price gapped up prior to trading on Monday . The stock had previously closed at $5.29, but opened at $5.59. Sunnova Energy International shares last traded at $5.69, with a volume of 2,225,808 shares.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Sunnova Energy International from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Susquehanna boosted their price target on Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a report on Friday, August 2nd. Barclays cut their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Scotiabank upped their target price on shares of 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. Finally, The Goldman Sachs Group lifted their price target on shares of Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.11.

Sunnova Energy International Trading Up 8.3 %

The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a fifty day moving average of $9.14 and a 200-day moving average of $6.86. The company has a market cap of $710.42 million, a PE ratio of -1.69 and a beta of 2.21.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.27. The company had revenue of $219.60 million for the quarter, compared to the consensus estimate 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 firm’s revenue was up 32.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.74) EPS. Sell-side analysts anticipate that Sunnova Energy International Inc. will post -1.99 EPS for the current fiscal year.

Insider Activity

In other news, insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the transaction, 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 filing with the SEC, which is accessible through this link. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

Hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC raised its holdings in Sunnova Energy International by 37,400.0% in the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after purchasing an additional 2,992 shares in the last quarter. GAMMA Investing LLC increased its position in Sunnova Energy International by 736.3% during the 3rd quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock valued at $85,000 after buying an additional 7,709 shares in the last quarter. Peoples Bank KS acquired a new stake in Sunnova Energy International in the second quarter worth about $56,000. Caxton Associates LP purchased a new stake in shares of Sunnova Energy International during the first quarter worth about $62,000. Finally, First Trust Direct Indexing L.P. acquired a new position in shares of Sunnova Energy International during the first quarter valued at about $66,000.

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.