Sunnova Energy International (NYSE:NOVA) Shares Gap Down – Here’s Why

Sunnova Energy International Inc. (NYSE:NOVA) gapped down before the market opened on Wednesday . The stock had previously closed at $7.06, but opened at $5.25. Sunnova Energy International shares last traded at $4.36, with a volume of 4,597,092 shares.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. 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. Citigroup lowered their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut their price target on Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a research note on Friday, November 1st. Robert W. Baird lowered their price objective on Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Piper Sandler increased their target price on Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Sunnova Energy International has a consensus rating of “Moderate Buy” and an average target price of $11.61.

Sunnova Energy International Trading Down 51.6 %

The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50 day simple moving average of $8.51 and a two-hundred day simple moving average of $6.95.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. During the same quarter last year, the firm posted ($0.53) EPS. Sunnova Energy International’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, analysts predict that Sunnova Energy International Inc. will post -2.27 EPS for the current fiscal year.

Insider Buying and Selling at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mizuho Markets Americas LLC grew its position in Sunnova Energy International by 53.7% in the 3rd quarter. Mizuho Markets Americas LLC now owns 282,805 shares of the company’s stock valued at $2,755,000 after acquiring an additional 98,800 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Sunnova Energy International by 28.4% during the third quarter. GSA Capital Partners LLP now owns 130,741 shares of the company’s stock valued at $1,273,000 after purchasing an additional 28,931 shares during the period. First Trust Direct Indexing L.P. grew its holdings in shares of Sunnova Energy International by 11.6% in the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock worth $189,000 after purchasing an additional 2,016 shares during the last quarter. PFG Investments LLC bought a new position in shares of Sunnova Energy International in the third quarter worth about $130,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Sunnova Energy International in the 3rd quarter worth about $260,000.

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.