Sunnova Energy International (NYSE:NOVA) Shares Gap Up to $12.97

Shares of Sunnova Energy International Inc. (NYSE:NOVA) gapped up prior to trading on Thursday . The stock had previously closed at $12.97, but opened at $13.32. Sunnova Energy International shares last traded at $13.52, with a volume of 291,903 shares.

Wall Street Analyst Weigh In

Several brokerages recently commented on NOVA. BMO Capital Markets cut their price objective on Sunnova Energy International from $25.00 to $21.00 in a report on Monday, July 31st. Barclays boosted their price target on Sunnova Energy International from $27.00 to $29.00 in a research note on Thursday, July 13th. Truist Financial reiterated a “buy” rating and issued a $35.00 price objective on shares of Sunnova Energy International in a research note on Friday, July 14th. Guggenheim cut their target price on shares of Sunnova Energy International from $63.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, August 8th. Finally, Morgan Stanley reduced their target price on shares of Sunnova Energy International from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, September 6th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.13.

Sunnova Energy International Stock Up 5.2 %

The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 3.24. The company has a fifty day moving average price of $16.51 and a 200-day moving average price of $16.59. The stock has a market capitalization of $1.59 billion, a P/E ratio of -6.36 and a beta of 2.06.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, July 26th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.37). The firm had revenue of $166.38 million for the quarter, compared to analysts’ expectations of $195.53 million. Sunnova Energy International had a negative return on equity of 15.78% and a negative net margin of 37.16%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same period last year, the company earned ($0.32) earnings per share. As a group, research analysts forecast that Sunnova Energy International Inc. will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In related news, insider William J. Berger sold 47,150 shares of Sunnova Energy International stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $17.86, for a total value of $842,099.00. Following the completion of the transaction, the insider now owns 365,222 shares in the company, valued at $6,522,864.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunnova Energy International

Hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. boosted its position in shares of Sunnova Energy International by 23.4% during the first quarter. Advisor Group Holdings Inc. now owns 4,788 shares of the company’s stock valued at $387,000 after buying an additional 907 shares during the period. Raymond James & Associates boosted its holdings in Sunnova Energy International by 185.3% during the 1st quarter. Raymond James & Associates now owns 41,819 shares of the company’s stock valued at $964,000 after acquiring an additional 27,160 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Sunnova Energy International by 199.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 47,501 shares of the company’s stock valued at $1,095,000 after acquiring an additional 31,646 shares during the last quarter. US Bancorp DE increased its stake in Sunnova Energy International by 168.8% in the first quarter. US Bancorp DE now owns 2,809 shares of the company’s stock worth $65,000 after purchasing an additional 1,764 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Sunnova Energy International by 53.6% during the first quarter. MetLife Investment Management LLC now owns 47,065 shares of the company’s stock worth $1,085,000 after purchasing an additional 16,426 shares during the last quarter.

About Sunnova Energy International

Sunnova Energy International Inc provides 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 diagnostics services. As of December 31, 2022, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,627 megawatts serving over 279,000 customers.