Q2 2024 EPS Estimates for Sunnova Energy International Inc. (NYSE:NOVA) Decreased by Roth Capital

Sunnova Energy International Inc. (NYSE:NOVA) – Equities researchers at Roth Capital reduced their Q2 2024 EPS estimates for Sunnova Energy International in a research report issued on Thursday, May 2nd. Roth Capital analyst P. Shen now forecasts that the company will earn ($0.43) per share for the quarter, down from their previous forecast of ($0.41). The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.39) per share. Roth Capital also issued estimates for Sunnova Energy International’s Q3 2024 earnings at ($0.06) EPS, FY2024 earnings at ($1.01) EPS, Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.70) EPS.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The business had revenue of $160.90 million for the quarter, compared to analysts’ expectations of $193.78 million. During the same period in the previous year, the firm posted ($0.70) EPS. The company’s quarterly revenue was down .5% on a year-over-year basis.

Several other research analysts also recently weighed in on the stock. Janney Montgomery Scott raised shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Friday, March 22nd. 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 research note on Thursday, April 11th. Evercore ISI decreased their target price on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday. Robert W. Baird dropped their price target on Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Morgan Stanley restated an “equal weight” rating and set a $14.00 price objective (down from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.71.

Sunnova Energy International Trading Down 2.5 %

Shares of NOVA opened at $4.67 on Monday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41. Sunnova Energy International has a 1-year low of $3.37 and a 1-year high of $24.56. The stock has a market capitalization of $578.99 million, a P/E ratio of -1.39 and a beta of 2.15. The business’s 50-day moving average price is $5.05 and its 200 day moving average price is $9.09.

Insider Activity

In related news, Director Akbar Mohamed bought 152,450 shares of Sunnova Energy International stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the acquisition, the director now owns 236,139 shares in the company, valued at $1,634,081.88. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 14,007 shares in the company, valued at approximately $74,377.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Akbar Mohamed bought 152,450 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the acquisition, the director now directly owns 236,139 shares in the company, valued at $1,634,081.88. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 23,580 shares of company stock valued at $137,382. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Sunnova Energy International

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Sunnova Energy International by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company’s stock valued at $159,917,000 after buying an additional 215,905 shares during the last quarter. Electron Capital Partners LLC grew its stake in shares of Sunnova Energy International by 42.9% in the third quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock worth $55,582,000 after acquiring an additional 1,593,098 shares during the last quarter. Van ECK Associates Corp increased its position 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 acquiring an additional 866,705 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Sunnova Energy International by 57.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company’s stock valued at $13,872,000 after purchasing an additional 484,150 shares during the last quarter. Finally, Guinness Asset Management LTD boosted its holdings in Sunnova Energy International by 5.9% in the 3rd quarter. Guinness Asset Management LTD now owns 1,240,355 shares of the company’s stock valued at $12,981,000 after purchasing an additional 69,539 shares during the period.

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.