Sunnova Energy International (NYSE:NOVA) Shares Gap Up – Still a Buy?

Shares of Sunnova Energy International Inc. (NYSE:NOVA) gapped up before the market opened 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.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NOVA. Royal Bank of Canada cut Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 9th. BNP Paribas cut shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 price objective on the stock. in a research note on Friday, November 8th. The Goldman Sachs Group reduced their target price on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday. Wolfe Research cut Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Guggenheim cut Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.49.

Sunnova Energy International Price Performance

The firm has a market cap of $452.32 million, a price-to-earnings ratio of -1.08 and a beta of 2.22. 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’s fifty day moving average is $4.87 and its two-hundred day moving average is $6.92.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The company had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. Sunnova Energy International’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.53) EPS. Equities research analysts forecast that Sunnova Energy International Inc. will post -2.44 EPS for the current year.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, Director Akbar Mohamed purchased 54,717 shares of Sunnova Energy International stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $3.80 per share, with a total value of $207,924.60. Following the completion of the acquisition, the director now owns 302,654 shares of the company’s stock, valued at approximately $1,150,085.20. This trade represents a 22.07 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Eric Michael Williams acquired 13,800 shares of the company’s stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the completion of the acquisition, the chief financial officer now directly owns 13,800 shares in the company, valued at $49,680. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 118,517 shares of company stock valued at $439,605. Corporate 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 stock. International Assets Investment Management LLC increased its holdings in Sunnova Energy International by 37,400.0% in the third 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 last quarter. GAMMA Investing LLC raised its position in shares of Sunnova Energy International by 736.3% during the 3rd quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock valued at $85,000 after acquiring an additional 7,709 shares in the last quarter. Creative Planning bought a new stake in Sunnova Energy International during the third quarter valued at $107,000. Presidio Capital Management LLC acquired a new stake in shares of Sunnova Energy International during the second quarter worth $67,000. Finally, nVerses Capital LLC lifted its position in shares of Sunnova Energy International by 237.8% in the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after buying an additional 8,800 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.