Sunnova Energy International (NYSE:NOVA) Shares Gap Up to $5.17

Sunnova Energy International Inc. (NYSE:NOVAGet Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $5.17, but opened at $5.31. Sunnova Energy International shares last traded at $5.39, with a volume of 453,710 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. Robert W. Baird dropped their price objective on shares of Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Susquehanna dropped their price objective on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating on the stock in a research report on Friday, April 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $6.00 price target (down from $11.00) on shares of Sunnova Energy International in a research report on Friday, April 19th. Finally, Piper Sandler lowered shares of Sunnova Energy International from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $9.00 to $4.50 in a research report on Tuesday, May 21st. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.73.

View Our Latest Stock Analysis on NOVA

Sunnova Energy International Stock Performance

The business’s 50 day moving average price is $4.93 and its two-hundred day moving average price is $7.47. 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:NOVAGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.22. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The business had revenue of $160.90 million for the quarter, compared to the consensus estimate of $193.78 million. During the same period last year, the company earned ($0.70) EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, analysts expect that Sunnova Energy International Inc. will post -1.85 earnings per share for the current year.

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds have recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Sunnova Energy International in the 1st quarter worth approximately $25,000. Manchester Capital Management LLC lifted its position in shares of Sunnova Energy International by 2,959.7% in the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after purchasing an additional 1,835 shares during the period. Caxton Associates LP acquired a new position in shares of Sunnova Energy International in the 1st quarter worth approximately $62,000. First Trust Direct Indexing L.P. acquired a new position in shares of Sunnova Energy International in the 1st quarter worth approximately $66,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Sunnova Energy International by 129.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock worth $72,000 after purchasing an additional 6,661 shares during the period.

Sunnova Energy International Company Profile

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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.

Further Reading

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