Swedbank AB Boosts Stock Position in Sunnova Energy International Inc. (NYSE:NOVA)

Swedbank AB increased its holdings in Sunnova Energy International Inc. (NYSE:NOVA) by 19.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 341,652 shares of the company’s stock after purchasing an additional 55,000 shares during the period. Swedbank AB owned approximately 0.27% of Sunnova Energy International worth $1,172,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sylebra Capital LLC lifted its holdings in shares of Sunnova Energy International by 125.6% in the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after acquiring an additional 6,926,399 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Sunnova Energy International in the 3rd quarter valued at approximately $76,550,000. Geode Capital Management LLC boosted its holdings in shares of Sunnova Energy International by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company’s stock worth $24,965,000 after purchasing an additional 88,945 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Sunnova Energy International by 17.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company’s stock valued at $8,780,000 after purchasing an additional 134,065 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Sunnova Energy International by 190.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock valued at $7,253,000 after buying an additional 488,623 shares during the period.

Sunnova Energy International Trading Down 8.9 %

Shares of NYSE NOVA opened at $2.57 on Monday. Sunnova Energy International Inc. has a 1-year low of $2.55 and a 1-year high of $13.00. The business has a fifty day moving average price of $3.89 and a 200 day moving average price of $6.40. The stock has a market capitalization of $321.12 million, a P/E ratio of -0.77 and a beta of 2.29. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86.

Insider Activity

In other Sunnova Energy International news, CFO Eric Michael Williams bought 13,800 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the purchase, the chief financial officer now directly owns 13,800 shares in the company, valued at $49,680. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Akbar Mohamed purchased 54,717 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $3.80 per share, with a total value of $207,924.60. Following the completion of the purchase, 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 disclosure for this purchase can be found here. In the last ninety days, insiders have bought 118,517 shares of company stock worth $439,605. Corporate insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

NOVA has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price objective on shares of Sunnova Energy International from $8.00 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Piper Sandler cut their price target on shares of Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 22nd. Guggenheim downgraded shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their target price on Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, The Goldman Sachs Group reduced their price target on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.60.

About Sunnova Energy International

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.