Sunnova Energy International (NYSE:NOVA) Shares Gap Up to $4.18

Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $4.18, but opened at $4.82. Sunnova Energy International shares last traded at $5.11, with a volume of 2,859,182 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NOVA. Wells Fargo & Company reiterated an "equal weight" rating and issued a $6.00 price target (down from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. B. Riley dropped their price objective on shares of Sunnova Energy International from $21.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday, April 22nd. KeyCorp cut shares of Sunnova Energy International from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, April 23rd. Evercore ISI decreased their price target on shares of Sunnova Energy International from $26.00 to $17.00 and set an "outperform" rating for the company in a research report on Friday, May 3rd. Finally, Scotiabank reduced their price objective on shares of Sunnova Energy International from $20.00 to $10.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 29th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $16.71.

Sunnova Energy International Stock Up 27.5 %

The business's 50 day simple moving average is $4.73 and its 200 day simple moving average is $8.91. The company has a market capitalization of $660.81 million, a PE ratio of -1.55 and a beta of 2.15. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 3.41.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.22. The firm had revenue of $160.90 million for the quarter, compared to analysts' expectations 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 company's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.70) EPS. As a group, analysts forecast that Sunnova Energy International Inc. will post -1.92 EPS for the current year.

Insider Buying and Selling

In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction of $50,445.00. Following the transaction, the insider now owns 14,007 shares of the company's stock, valued at approximately $74,377.17. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Akbar Mohamed purchased 152,450 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the purchase, the director now owns 236,139 shares in the company, valued at approximately $1,634,081.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the firm'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 transaction of $50,445.00. Following the transaction, the insider now directly owns 14,007 shares in the company, valued at approximately $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. Corporate insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NOVA. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Sunnova Energy International during the first quarter worth $25,000. Manchester Capital Management LLC raised 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 valued at $29,000 after purchasing an additional 1,835 shares during the period. First Trust Direct Indexing L.P. acquired a new stake in shares of Sunnova Energy International in the first quarter worth $66,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Sunnova Energy International by 129.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company's stock worth $72,000 after buying an additional 6,661 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake 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 last quarter.

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.