Sunnova Energy International Inc. (NYSE:NOVA - Get Free Report)'s share price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $5.38, but opened at $5.03. Sunnova Energy International shares last traded at $5.01, with a volume of 2,096,608 shares traded.
The company reported ($0.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.45). The business had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 8.85%. The company's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.53) EPS.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on NOVA shares. Citigroup lowered their price target on Sunnova Energy International from $12.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on shares of Sunnova Energy International in a research note on Thursday, October 10th. They set a "buy" rating and a $15.00 price target on the stock. Morgan Stanley upped their price objective on shares of Sunnova Energy International from $11.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 21st. Wells Fargo & Company lifted their target price on Sunnova Energy International from $6.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada upped their target price on Sunnova Energy International from $9.00 to $10.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.11.
Check Out Our Latest Stock Analysis on Sunnova Energy International
Insider Activity at Sunnova Energy International
In related news, insider William J. Berger sold 77,000 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the sale, the insider now directly owns 409,045 shares in the company, valued at $4,626,298.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Sunnova Energy International
A number of institutional investors and hedge funds have recently bought and sold shares of NOVA. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Sunnova Energy International by 56.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company's stock valued at $78,915,000 after acquiring an additional 5,118,552 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Sunnova Energy International by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company's stock valued at $64,782,000 after buying an additional 81,653 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Sunnova Energy International by 9.1% during the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company's stock valued at $71,097,000 after buying an additional 611,452 shares during the period. Sylebra Capital LLC acquired a new stake in Sunnova Energy International during the second quarter worth approximately $30,783,000. Finally, Electron Capital Partners LLC boosted its position in Sunnova Energy International by 24.5% during the second quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company's stock worth $16,768,000 after acquiring an additional 591,514 shares during the last quarter.
Sunnova Energy International Price Performance
The stock has a market capitalization of $757.92 million, a PE ratio of -1.99 and a beta of 2.21. The company's 50 day simple moving average is $8.88 and its 200 day simple moving average is $6.86. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11.
About Sunnova Energy International
(
Get Free Report)
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.
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