Sunnova Energy International (NYSE:NOVA) Shares Gap Up – Should You Buy?

Sunnova Energy International Inc. (NYSE:NOVA)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $4.00, but opened at $4.20. Sunnova Energy International shares last traded at $4.09, with a volume of 2,616,808 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday. BNP Paribas downgraded Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price target on the stock. in a report on Friday, November 8th. BMO Capital Markets reissued a “market perform” rating and set a $8.00 price target (down from $10.00) on shares of Sunnova Energy International in a research report on Friday, November 1st. Wolfe Research cut shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Morgan Stanley decreased their price objective on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Sunnova Energy International has a consensus rating of “Hold” and an average price target of $10.49.

Sunnova Energy International Price Performance

The stock has a market capitalization of $452.32 million, a price-to-earnings ratio of -1.08 and a beta of 2.22. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The stock has a 50-day moving average price of $4.87 and a 200 day moving average price of $6.92.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The business had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.53) EPS. As a group, equities research analysts expect that Sunnova Energy International Inc. will post -2.44 earnings per share for the current year.

Insider Transactions at Sunnova Energy International

In other news, Director Akbar Mohamed purchased 50,000 shares of the stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the transaction, the director now directly owns 352,654 shares in the company, valued at approximately $1,283,660.56. This represents a 16.52 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Eric Michael Williams acquired 13,800 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was purchased at an average cost of $3.60 per share, with a total value of $49,680.00. Following the completion of the purchase, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at approximately $49,680. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 118,517 shares of company stock worth $439,605 in the last quarter. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Sunnova Energy International

Several hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in Sunnova Energy International by 37,400.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock valued at $308,000 after buying an additional 2,992 shares during the period. GAMMA Investing LLC increased its holdings in Sunnova Energy International by 736.3% during the 3rd quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock worth $85,000 after purchasing an additional 7,709 shares during the period. Creative Planning acquired a new stake in Sunnova Energy International in the 3rd quarter valued at about $107,000. Presidio Capital Management LLC purchased a new position in Sunnova Energy International in the second quarter worth approximately $67,000. Finally, nVerses Capital LLC grew its stake in shares of Sunnova Energy International by 237.8% during the second quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after purchasing an additional 8,800 shares in the last quarter.

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.