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

Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report)'s share price gapped down before the market opened 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.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOVA. Susquehanna dropped their price target on 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. Janney Montgomery Scott upgraded shares of Sunnova Energy International from a "neutral" rating to a "buy" rating and set a $12.00 target price for the company in a research report on Friday, March 22nd. Morgan Stanley reaffirmed an "equal weight" rating and set a $14.00 price target (down previously from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Truist Financial decreased their price objective on Sunnova Energy International from $16.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, April 30th. Finally, BMO Capital Markets cut their target price on Sunnova Energy International from $10.00 to $6.00 and set a "market perform" rating for the company in a research note on Friday, May 3rd. Eight analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.88.

Sunnova Energy International Price Performance

The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41. The company has a market cap of $502.12 million, a PE ratio of -1.23 and a beta of 2.15. The firm has a 50 day moving average of $4.61 and a two-hundred day moving average of $8.75.

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

Insider Transactions at Sunnova Energy International

In related news, insider Paul S. Mathews sold 9,500 shares of the business's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the completion of the transaction, the insider now directly owns 14,007 shares in the company, valued at approximately $74,377.17. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Akbar Mohamed purchased 152,450 shares of the company's stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the purchase, the director now directly owns 236,139 shares in the company, valued at approximately $1,634,081.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $50,445.00. Following the sale, the insider now owns 14,007 shares of the company's stock, valued at approximately $74,377.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,580 shares of company stock worth $137,382. Corporate insiders own 4.50% of the company's stock.

Institutional Trading of Sunnova Energy International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Sunnova Energy International by 2.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company's stock valued at $663,000 after purchasing an additional 1,094 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Sunnova Energy International by 3.6% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,397 shares of the company's stock worth $465,000 after purchasing an additional 1,528 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Sunnova Energy International by 8.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company's stock valued at $325,000 after acquiring an additional 1,554 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Sunnova Energy International by 14.0% during the 3rd quarter. Principal Financial Group Inc. now owns 12,893 shares of the company's stock valued at $135,000 after purchasing an additional 1,584 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its position in shares of Sunnova Energy International by 2,959.7% in the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company's stock worth $29,000 after buying an additional 1,835 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.