Algert Global LLC Buys Shares of 20,092 Sunnova Energy International Inc. (NYSE:NOVA)

Algert Global LLC bought a new stake in Sunnova Energy International Inc. (NYSE:NOVA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 20,092 shares of the company’s stock, valued at approximately $757,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Sunnova Energy International by 14.4% in the 2nd quarter. Vanguard Group Inc. now owns 7,764,078 shares of the company’s stock valued at $292,395,000 after buying an additional 974,595 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Sunnova Energy International by 0.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 3,777,513 shares of the company’s stock valued at $142,261,000 after buying an additional 9,959 shares during the period. Avalon Investment & Advisory lifted its holdings in shares of Sunnova Energy International by 2.9% in the 1st quarter. Avalon Investment & Advisory now owns 2,269,347 shares of the company’s stock valued at $92,635,000 after buying an additional 64,104 shares during the period. Amundi Asset Management US Inc. lifted its holdings in shares of Sunnova Energy International by 208.9% in the 1st quarter. Amundi Asset Management US Inc. now owns 1,751,237 shares of the company’s stock valued at $71,486,000 after buying an additional 1,184,345 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Sunnova Energy International by 24.0% during the second quarter. Geode Capital Management LLC now owns 1,244,851 shares of the company’s stock worth $46,881,000 after purchasing an additional 240,963 shares during the last quarter.

Shares of NYSE:NOVA traded down $0.17 during midday trading on Thursday, reaching $39.35. The company’s stock had a trading volume of 17,367 shares, compared to its average volume of 2,215,166. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of -15.38 and a beta of 1.97. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 2.04. Sunnova Energy International Inc. has a 1 year low of $23.65 and a 1 year high of $57.70. The business has a 50 day moving average price of $34.79 and a 200 day moving average price of $34.40.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Wednesday, July 28th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.16). Sunnova Energy International had a negative net margin of 128.72% and a negative return on equity of 8.24%. The firm had revenue of $66.56 million for the quarter, compared to analysts’ expectations of $59.17 million. Sell-side analysts anticipate that Sunnova Energy International Inc. will post -1.3 earnings per share for the current fiscal year.

In other Sunnova Energy International news, insider Michael P. Grasso sold 5,500 shares of the business’s stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $37.50, for a total transaction of $206,250.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kris W. Hillstrand sold 8,117 shares of the business’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $37.04, for a total value of $300,653.68. Following the transaction, the insider now owns 55,454 shares in the company, valued at approximately $2,054,016.16. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Several equities analysts recently issued reports on NOVA shares. Zacks Investment Research cut Sunnova Energy International from a “hold” rating to a “sell” rating in a report on Wednesday, September 29th. BMO Capital Markets started coverage on Sunnova Energy International in a report on Thursday, September 30th. They set an “outperform” rating and a $50.00 price objective for the company. Piper Sandler reduced their price objective on Sunnova Energy International from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, July 15th. Stephens started coverage on Sunnova Energy International in a report on Thursday, June 24th. They set an “overweight” rating and a $56.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price target on Sunnova Energy International from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $54.06.

About Sunnova Energy International

Sunnova Energy International, Inc engages in providing solar and energy storage services. It also offers services to customers who purchased their solar energy system through unaffiliated third parties. The company was founded by William J. (John) Berger on October 22, 2012 and is headquartered in Houston, TX.

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Institutional Ownership by Quarter for Sunnova Energy International (NYSE:NOVA)

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