Q1 2024 EPS Estimates for Sunnova Energy International Inc. Cut by Analyst (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) – Stock analysts at B. Riley reduced their Q1 2024 EPS estimates for Sunnova Energy International in a research note issued to investors on Monday, April 22nd. B. Riley analyst C. Souther now anticipates that the company will post earnings of ($1.06) per share for the quarter, down from their prior estimate of ($0.83). B. Riley has a “Buy” rating and a $15.00 price target on the stock. The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.28) per share. B. Riley also issued estimates for Sunnova Energy International’s Q2 2024 earnings at ($0.74) EPS, Q3 2024 earnings at ($0.77) EPS, Q4 2024 earnings at ($1.03) EPS, FY2024 earnings at ($3.60) EPS and FY2025 earnings at ($3.40) EPS.

NOVA has been the subject of a number of other reports. Susquehanna cut their target price on Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating for the company in a research note on Friday, April 5th. Truist Financial reaffirmed a “buy” rating and set a $16.00 price objective (down from $18.00) on shares of Sunnova Energy International in a report on Monday, February 26th. Wells Fargo & Company reissued an “equal weight” rating and issued a $6.00 price target (down previously from $11.00) on shares of Sunnova Energy International in a research report on Friday, April 19th. 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. Finally, The Goldman Sachs Group cut their target price on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Sunnova Energy International presently has an average rating of “Moderate Buy” and a consensus price target of $18.48.

Sunnova Energy International Stock Performance

Sunnova Energy International stock opened at $3.92 on Wednesday. Sunnova Energy International has a 12 month low of $3.52 and a 12 month high of $24.56. The stock has a market cap of $485.45 million, a price-to-earnings ratio of -1.12 and a beta of 2.08. The business has a 50 day moving average price of $5.94 and a two-hundred day moving average price of $9.40. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Sunnova Energy International had a negative net margin of 58.00% and a negative return on equity of 13.26%. The business had revenue of $194.18 million during the quarter, compared to analyst estimates of $226.09 million.

Hedge Funds Weigh In On Sunnova Energy International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC raised its position in shares of Sunnova Energy International by 2,959.7% in the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after acquiring an additional 1,835 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Sunnova Energy International during the first quarter worth $25,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Sunnova Energy International by 158.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock valued at $74,000 after buying an additional 4,310 shares during the period. Headlands Technologies LLC bought a new stake in shares of Sunnova Energy International in the 4th quarter valued at $157,000. Finally, Ballentine Partners LLC acquired a new stake in Sunnova Energy International during the 4th quarter worth $161,000.

Insider Buying and Selling at Sunnova Energy International

In other news, Director Akbar Mohamed purchased 152,450 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the purchase, the director now directly owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sunnova Energy International news, insider Jack O. Lynch III sold 12,994 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $6.21, for a total transaction of $80,692.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Akbar Mohamed purchased 152,450 shares of Sunnova Energy International stock in a transaction dated Wednesday, February 28th. The stock was bought at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the transaction, the director now directly owns 236,139 shares in the company, valued at $1,634,081.88. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 23,580 shares of company stock worth $137,382. Insiders own 4.50% of the company’s stock.

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.