Analysts Issue Forecasts for NOVA FY2024 Earnings

Sunnova Energy International Inc. (NYSE:NOVA) – Analysts at Capital One Financial issued their FY2024 EPS estimates for Sunnova Energy International in a research note issued on Tuesday, December 31st. Capital One Financial analyst W. Suki expects that the company will post earnings of ($3.57) per share for the year. The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.44) per share. Capital One Financial also issued estimates for Sunnova Energy International’s Q4 2024 earnings at ($1.74) EPS, Q1 2025 earnings at ($0.96) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.67) EPS, Q4 2025 earnings at ($0.82) EPS and FY2025 earnings at ($3.22) EPS.

A number of other research analysts also recently issued reports on the company. Barclays reduced their price target on Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. BNP Paribas lowered shares of Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price on the stock. in a research report on Friday, November 8th. Guggenheim cut Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Piper Sandler cut their target price on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday, November 22nd. Finally, Citigroup cut their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.24.

Sunnova Energy International Stock Performance

Shares of Sunnova Energy International stock opened at $4.26 on Friday. The company has a market capitalization of $532.30 million, a PE ratio of -1.27 and a beta of 2.22. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. Sunnova Energy International has a 52 week low of $2.99 and a 52 week high of $14.44. The stock’s fifty day moving average is $4.36 and its two-hundred day moving average is $6.78.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.53) earnings per share.

Insider Transactions at Sunnova Energy International

In other news, Director Akbar Mohamed purchased 54,717 shares of the company’s stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of $3.80 per share, with a total value of $207,924.60. Following the completion of the transaction, the director now owns 302,654 shares of the company’s stock, valued at $1,150,085.20. The trade was a 22.07 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric Michael Williams bought 13,800 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the completion of the acquisition, the chief financial officer now directly owns 13,800 shares in the company, valued at $49,680. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 118,517 shares of company stock worth $439,605. 4.50% of the stock is currently owned by company insiders.

Institutional Trading of Sunnova Energy International

Institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC raised its holdings in Sunnova Energy International by 237.8% during the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after purchasing an additional 8,800 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Sunnova Energy International in the 2nd quarter valued at about $78,000. AE Wealth Management LLC purchased a new stake in Sunnova Energy International in the 2nd quarter valued at $81,000. GAMMA Investing LLC lifted its position in shares of Sunnova Energy International by 736.3% during the third quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock valued at $85,000 after purchasing an additional 7,709 shares in the last quarter. Finally, Ballentine Partners LLC boosted its stake in shares of Sunnova Energy International by 72.2% in the 2nd quarter. Ballentine Partners LLC now owns 18,559 shares of the company’s stock worth $104,000 after buying an additional 7,783 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.