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

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler downgraded shares of Sunnova Energy International from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $9.00 to $4.50 in a research note on Tuesday, May 21st. Robert W. Baird decreased their price target on shares of Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. BMO Capital Markets decreased their price target on shares of Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday, May 3rd. The Goldman Sachs Group cut their target price on shares of Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. Finally, Mizuho cut their target price on shares of Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sunnova Energy International presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.73.

Sunnova Energy International Stock Up 7.5 %

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 firm has a 50-day simple moving average of $4.93 and a 200 day simple moving average of $7.47.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.22. The business had revenue of $160.90 million during the quarter, compared to analyst estimates 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 for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.70) earnings per share. Sell-side analysts anticipate that Sunnova Energy International Inc. will post -1.85 EPS for the current year.

Hedge Funds Weigh In On Sunnova Energy International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in shares of Sunnova Energy International by 1.8% in the 3rd quarter. Rhumbline Advisers now owns 179,585 shares of the company’s stock worth $1,880,000 after purchasing an additional 3,144 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in shares of Sunnova Energy International by 102.3% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 190,800 shares of the company’s stock worth $1,998,000 after purchasing an additional 96,500 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Sunnova Energy International in the 3rd quarter worth about $689,000. Banque Pictet & Cie SA purchased a new position in shares of Sunnova Energy International in the 3rd quarter worth about $6,906,000. Finally, Carmignac Gestion raised its position in Sunnova Energy International by 1,257.4% in the 3rd quarter. Carmignac Gestion now owns 41,999 shares of the company’s stock worth $440,000 after buying an additional 38,905 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.