Sunnova Energy International Inc. Expected to Post Q1 2024 Earnings of ($0.77) Per Share (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) – KeyCorp issued their Q1 2024 earnings per share estimates for Sunnova Energy International in a research note issued to investors on Monday, April 22nd. KeyCorp analyst S. Karp anticipates that the company will post earnings per share of ($0.77) for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.28) per share. KeyCorp also issued estimates for Sunnova Energy International’s Q2 2024 earnings at ($0.83) EPS and Q3 2024 earnings at ($0.39) EPS.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. The company had revenue of $194.18 million for the quarter, compared to the consensus estimate of $226.09 million.

Other equities research analysts also recently issued research reports about the company. Truist Financial reissued a “buy” rating and issued a $16.00 price target (down previously from $18.00) on shares of Sunnova Energy International in a report on Monday, February 26th. Wells Fargo & Company reissued an “equal weight” rating and issued a $6.00 price target (down previously from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. Mizuho lowered their price target on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating for the company in a report on Friday, April 19th. Evercore ISI lowered their price target on Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Finally, The Goldman Sachs Group lowered their price target on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Sunnova Energy International presently has an average rating of “Moderate Buy” and a consensus price target of $18.48.

Sunnova Energy International Trading Up 2.7 %

Shares of NOVA stock opened at $3.93 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58. The stock’s 50-day moving average is $6.10 and its 200 day moving average is $9.44. Sunnova Energy International has a 1-year low of $3.52 and a 1-year high of $24.56.

Insider Activity at Sunnova Energy International

In related news, Director Akbar Mohamed purchased 152,450 shares of Sunnova Energy International stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the transaction, the director now owns 236,139 shares in the company, valued at $1,634,081.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sunnova Energy International news, Director Akbar Mohamed acquired 152,450 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the transaction, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the completion of the sale, the insider now owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,580 shares of company stock worth $137,382. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Sunnova Energy International

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Sunnova Energy International by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company’s stock worth $159,917,000 after purchasing an additional 215,905 shares in the last quarter. Electron Capital Partners LLC boosted its stake in Sunnova Energy International by 42.9% during the third quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock worth $55,582,000 after buying an additional 1,593,098 shares during the last quarter. Van ECK Associates Corp boosted its stake in Sunnova Energy International by 124.4% during the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after buying an additional 866,705 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Sunnova Energy International by 57.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company’s stock worth $13,872,000 after buying an additional 484,150 shares during the last quarter. Finally, Guinness Asset Management LTD boosted its stake in Sunnova Energy International by 5.9% during the third quarter. Guinness Asset Management LTD now owns 1,240,355 shares of the company’s stock worth $12,981,000 after buying an additional 69,539 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.