Short Interest in Sunnova Energy International Inc. (NYSE:NOVA) Decreases By 24.8%

Sunnova Energy International Inc. (NYSE:NOVA) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 29,540,000 shares, a decline of 24.8% from the February 28th total of 39,300,000 shares. Based on an average daily trading volume, of 17,940,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 24.8% of the shares of the stock are short sold.

Sunnova Energy International Stock Down 9.4 %

Shares of NOVA stock traded down $0.04 on Tuesday, hitting $0.34. The company’s stock had a trading volume of 13,369,166 shares, compared to its average volume of 10,915,313. The stock has a market capitalization of $42.15 million, a price-to-earnings ratio of -0.10 and a beta of 2.64. Sunnova Energy International has a fifty-two week low of $0.25 and a fifty-two week high of $13.00. The firm’s fifty day moving average price is $1.48 and its 200-day moving average price is $4.07. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($2.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The firm had revenue of $224.13 million during the quarter, compared to analyst estimates of $235.85 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Research analysts anticipate that Sunnova Energy International will post -2.63 EPS for the current year.

Institutional Trading of Sunnova Energy International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Erste Asset Management GmbH bought a new stake in shares of Sunnova Energy International in the third quarter valued at about $76,550,000. Sylebra Capital LLC boosted its position in Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after buying an additional 6,926,399 shares in the last quarter. CenterBook Partners LP bought a new stake in Sunnova Energy International during the 4th quarter worth approximately $8,565,000. Invesco Ltd. raised its position in Sunnova Energy International by 55.2% in the 4th quarter. Invesco Ltd. now owns 6,082,399 shares of the company’s stock valued at $20,863,000 after purchasing an additional 2,162,379 shares during the last quarter. Finally, Capital Fund Management S.A. boosted its stake in Sunnova Energy International by 456.4% in the fourth quarter. Capital Fund Management S.A. now owns 1,737,569 shares of the company’s stock worth $5,960,000 after purchasing an additional 1,425,281 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Roth Capital downgraded Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Citigroup lowered Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 13th. Piper Sandler dropped their price target on Sunnova Energy International from $4.50 to $1.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. UBS Group lowered shares of Sunnova Energy International from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $5.00 to $0.65 in a research note on Tuesday, March 4th. Finally, TD Cowen assumed coverage on shares of Sunnova Energy International in a research report on Thursday, December 19th. They issued a “hold” rating and a $5.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Sunnova Energy International currently has a consensus rating of “Hold” and a consensus price target of $5.39.

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.