Sunnova Energy International Inc. Expected to Post Q1 2024 Earnings of ($0.77) Per Share (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) – Research analysts at KeyCorp issued their Q1 2024 earnings per share estimates for Sunnova Energy International in a research note issued to investors on Monday, April 22nd. KeyCorp analyst S. Karp expects that the company will post earnings per share of ($0.77) for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.28) per share. KeyCorp also issued estimates for Sunnova Energy International’s Q2 2024 earnings at ($0.83) EPS and Q3 2024 earnings at ($0.39) EPS.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.04. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. The company had revenue of $194.18 million during the quarter, compared to the consensus estimate of $226.09 million.

Several other equities research analysts have also recently issued reports on the company. Evercore ISI decreased their price objective on Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Morgan Stanley restated an “equal weight” rating and set a $14.00 price objective (down previously from $24.00) on shares of Sunnova Energy International in a report on Monday, March 4th. Susquehanna decreased their price objective on Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating on the stock in a report on Friday, April 5th. Wells Fargo & Company restated an “equal weight” rating and set a $6.00 price objective (down previously from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. Finally, B. Riley reduced their target price on Sunnova Energy International from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Monday. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sunnova Energy International has a consensus rating of “Moderate Buy” and an average target price of $18.48.

Sunnova Energy International Trading Up 2.7 %

NOVA stock opened at $3.93 on Wednesday. Sunnova Energy International has a 52-week low of $3.52 and a 52-week high of $24.56. The stock’s fifty day simple moving average is $6.10 and its 200-day simple moving average is $9.44. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85.

Institutional Trading of Sunnova Energy International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Sunnova Energy International by 2.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock valued at $663,000 after buying an additional 1,094 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Sunnova Energy International by 3.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,397 shares of the company’s stock valued at $465,000 after purchasing an additional 1,528 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Sunnova Energy International by 8.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock valued at $325,000 after purchasing an additional 1,554 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Sunnova Energy International by 14.0% during the third quarter. Principal Financial Group Inc. now owns 12,893 shares of the company’s stock valued at $135,000 after purchasing an additional 1,584 shares during the last quarter. Finally, Manchester Capital Management LLC grew its holdings in shares of Sunnova Energy International by 2,959.7% during the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after purchasing an additional 1,835 shares during the last quarter.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, Director Akbar Mohamed bought 152,450 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the transaction, the director now owns 236,139 shares in the company, valued at $1,634,081.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Sunnova Energy International news, Director Akbar Mohamed bought 152,450 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the transaction, the director now owns 236,139 shares in the company, valued at $1,634,081.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total value of $50,445.00. Following the sale, the insider now directly owns 14,007 shares in the company, valued at $74,377.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,580 shares of company stock valued at $137,382. 4.50% of the stock is currently owned by insiders.

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.