Sunnova Energy International (NYSE:NOVA) Shares Gap Down to $4.15

Sunnova Energy International Inc. (NYSE:NOVA)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $4.15, but opened at $4.03. Sunnova Energy International shares last traded at $4.04, with a volume of 1,083,379 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Susquehanna cut their price objective on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating for the company in a research report on Friday, April 5th. Truist Financial lowered their price objective on Sunnova Energy International from $16.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $14.00 target price (down from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. B. Riley lowered their price target on shares of Sunnova Energy International from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $6.00 price objective (down from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.88.

Sunnova Energy International Trading Up 7.5 %

The stock has a fifty day simple moving average of $4.59 and a 200-day simple moving average of $8.67. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.22. The company had revenue of $160.90 million during the quarter, compared to analyst estimates of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.70) EPS. As a group, equities analysts predict that Sunnova Energy International Inc. will post -1.92 earnings per share for the current year.

Insider Buying and Selling

In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $5.31, for a total transaction of $50,445.00. Following the sale, the insider now directly owns 14,007 shares of the company’s stock, valued at $74,377.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sunnova Energy International news, insider Jack O. Lynch III sold 12,994 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $6.21, for a total transaction of $80,692.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul S. Mathews sold 9,500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the transaction, the insider now owns 14,007 shares in the company, valued at $74,377.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,580 shares of company stock valued at $137,382. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

A number of large investors have recently made changes to their positions in NOVA. Commonwealth Equity Services LLC raised its position in shares of Sunnova Energy International by 34.0% in the third quarter. Commonwealth Equity Services LLC now owns 17,527 shares of the company’s stock valued at $184,000 after buying an additional 4,450 shares in the last quarter. Raymond James & Associates lifted its position in shares of Sunnova Energy International by 19.5% during the 3rd quarter. Raymond James & Associates now owns 95,096 shares of the company’s stock valued at $996,000 after acquiring an additional 15,503 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Sunnova Energy International by 3.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 66,485 shares of the company’s stock worth $696,000 after purchasing an additional 1,962 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Sunnova Energy International by 4.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,299 shares of the company’s stock worth $1,102,000 after buying an additional 4,411 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Sunnova Energy International by 158.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock valued at $74,000 after buying an additional 4,310 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.