Sunnova Energy International (NYSE:NOVA) Shares Gap Down – What’s Next?

Shares of Sunnova Energy International Inc. (NYSE:NOVA) gapped down before the market opened on Monday . The stock had previously closed at $4.47, but opened at $4.37. Sunnova Energy International shares last traded at $4.54, with a volume of 1,297,811 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have commented on NOVA. BMO Capital Markets reissued a “market perform” rating and issued a $8.00 target price (down from $10.00) on shares of Sunnova Energy International in a report on Friday, November 1st. Guggenheim cut Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley lowered their target price on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Citigroup cut their price target on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada lowered Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.73.

Sunnova Energy International Stock Up 1.3 %

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 market cap of $566.02 million, a P/E ratio of -1.33 and a beta of 2.22. The business’s fifty day moving average is $5.48 and its two-hundred day moving average is $6.96.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data 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). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same period last year, the company earned ($0.53) EPS. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. Equities analysts predict that Sunnova Energy International Inc. will post -2.44 EPS for the current year.

Insider Activity at Sunnova Energy International

In related news, Director Akbar Mohamed acquired 54,717 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $3.80 per share, with a total value of $207,924.60. Following the completion of the transaction, the director now directly owns 302,654 shares in the company, valued at $1,150,085.20. This trade represents a 22.07 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Eric Michael Williams bought 13,800 shares of Sunnova Energy International stock in a transaction on Monday, November 18th. The stock was purchased at an average price of $3.60 per share, with a total value of $49,680.00. Following the completion of the acquisition, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at $49,680. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 118,517 shares of company stock worth $439,605 over the last three months. 4.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOVA. Presidio Capital Management LLC acquired a new position in shares of Sunnova Energy International during the second quarter valued at about $67,000. nVerses Capital LLC increased its position in shares of Sunnova Energy International by 237.8% during the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after purchasing an additional 8,800 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Sunnova Energy International in the second quarter valued at approximately $78,000. AE Wealth Management LLC acquired a new position in shares of Sunnova Energy International during the second quarter worth $81,000. Finally, GAMMA Investing LLC grew its stake 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 buying an additional 7,709 shares during 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.