Sunnova Energy International (NYSE: NOVA – Get a rating) is expected to release its quarterly earnings data after the market closes on Wednesday, October 26. Analysts expect the company to report earnings of ($0.27) per share for the quarter. Investors wishing to register for the company’s conference call can do so using this link.
Sunnova Energy International (NYSE: NOVA – Get a rating) last reported quarterly earnings data on Wednesday, July 27. The company reported ($0.32) EPS for the quarter, meeting analyst consensus estimates of ($0.32). Sunnova Energy International recorded a negative net margin of 32.41% and a negative return on equity of 8.70%. The company posted revenue of $147.01 million in the quarter, versus a consensus estimate of $86.90 million. In the same quarter of the previous year, the company achieved EPS of ($0.42). Sunnova Energy International’s quarterly revenue increased 120.9% year over year. On average, analysts expect Sunnova Energy International to post EPS of -$1 for the current fiscal year and EPS of -$1 for the next fiscal year.
Sunnova Energy International Stock Performance
NYSE: NOVA opened at $17.64 on Wednesday. Sunnova Energy International has a 12-month low of $12.47 and a 12-month high of $46.40. The company has a market capitalization of $2.02 billion, a P/E ratio of -17.64 and a beta of 2.25. The company has a 50-day moving average price of $24.57 and a two-hundred-day moving average price of $21.53. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt ratio of 2.45.
Insider Buying and Selling at Sunnova Energy International
In related news, insider Kelsey Hultberg sold 2,000 shares in a trade that took place on Friday, August 5. The stock was sold at an average price of $28.00, for a total value of $56,000.00. Following the transaction, the insider now owns 15,493 shares of the company, valued at $433,804. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this link. In other Sunnova Energy International news, insider William J. Berger sold 150,000 shares of Sunnova Energy International in a trade on Monday August 8th. The stock was sold at an average price of $30.04, for a total transaction of $4,506,000.00. Following the completion of the transaction, the insider now directly owns 301,142 shares of the company, valued at $9,046,305.68. The sale was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, insider Kelsey Hultberg sold 2,000 shares of the company in a trade on Friday, August 5. The shares were sold at an average price of $28.00, for a total value of $56,000.00. Following the completion of the sale, the insider now owns 15,493 shares of the company, valued at $433,804. Disclosure of this sale can be found here. In the past three months, insiders have sold 155,326 shares of the company valued at $4,644,446. 4.20% of the shares are held by insiders.
Hedge funds weigh on Sunnova Energy International
Several institutional investors have recently changed their stake in the company. Captrust Financial Advisors increased its stake in Sunnova Energy International by 236.4% in the 1st quarter. Captrust Financial Advisors now owns 1,487 shares of the company valued at $34,000 after buying 1,045 additional shares in the last quarter. US Bancorp DE increased its stake in Sunnova Energy International by 168.8% during the first quarter. US Bancorp DE now owns 2,809 shares of the company worth $65,000 after purchasing an additional 1,764 shares during the period. First Republic Investment Management Inc. increased its stake in Sunnova Energy International by 9.1% during the second quarter. First Republic Investment Management Inc. now owns 13,052 shares of the company worth $241,000 after purchasing an additional 1,094 shares during the period. Prudential Financial Inc. acquired a new stake in Sunnova Energy International in the first quarter valued at approximately $315,000. Finally, Advisor Group Holdings Inc. increased its stake in shares of Sunnova Energy International by 23.4% in the first quarter. Advisor Group Holdings Inc. now owns 4,788 shares of the company valued at $387,000 after buying 907 additional shares in the last quarter.
Analysts set new price targets
NOVA has been the subject of several analyst reports. Wells Fargo & Company raised its price target on Sunnova Energy International shares from $22.00 to $27.00 and gave the company an “equal weight” rating in a Wednesday, Aug. 3 report. Piper Sandler downgraded Sunnova Energy International from an “overweight” rating to a “neutral” rating and lowered its price target for the stock from $27.00 to $23.00 in a Tuesday, July 19 research note . Guggenheim cut its target price on Sunnova Energy International from $72.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday. Susquehanna Bancshares launched coverage on Sunnova Energy International in a research note on Monday. They set a “positive” rating and a target price of $38.00 for the business. Finally, JPMorgan Chase & Co. raised its price target on Sunnova Energy International from $43.00 to $54.00 and gave the company an “overweight” rating in a Monday, August 8 report. Three investment analysts gave the stock a hold rating, eleven issued a buy rating and one gave the company a high buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.
Sunnova Energy International Company Profile
Sunnova Energy International Inc provides residential energy services in the United States. The company offers power, as well as operation and maintenance, monitoring, repair and replacement, equipment upgrade, on-site power optimization and diagnostic services. As of December 31, 2021, it operated a fleet of residential solar energy systems with a generating capacity of approximately 1,140 megawatts serving more than 195,000 customers.
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