Sunnova Energy International Inc. (NYSE:NOVA) to Post Q2 2024 Earnings of ($0.43) Per Share, Roth Capital Forecasts

Sunnova Energy International Inc. (NYSE:NOVA) – Equities researchers at Roth Capital dropped their Q2 2024 earnings estimates for Sunnova Energy International in a note issued to investors on Thursday, May 2nd. Roth Capital analyst P. Shen now anticipates that the company will earn ($0.43) per share for the quarter, down from their previous estimate of ($0.41). The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.39) per share. Roth Capital also issued estimates for Sunnova Energy International’s Q3 2024 earnings at ($0.06) EPS, FY2024 earnings at ($1.01) EPS, Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.70) EPS.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.22. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The company had revenue of $160.90 million for the quarter, compared to analyst estimates of $193.78 million. During the same period in the prior year, the company posted ($0.70) EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis.

A number of other analysts have also weighed in on NOVA. KeyCorp lowered Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 23rd. Evercore ISI decreased their price objective on shares of Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Truist Financial dropped their target price on shares of Sunnova Energy International from $16.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Susquehanna lowered their price target on Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating for the company in a report on Friday, April 5th. Finally, Scotiabank dropped their price objective on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 29th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sunnova Energy International presently has an average rating of “Moderate Buy” and an average price target of $16.71.

Sunnova Energy International Price Performance

Shares of NOVA stock opened at $4.42 on Monday. The stock has a 50 day moving average price of $5.01 and a 200 day moving average price of $9.06. Sunnova Energy International has a 52-week low of $3.37 and a 52-week high of $24.56. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market capitalization of $547.37 million, a P/E ratio of -1.31 and a beta of 2.15.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Sunnova Energy International by 2.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock worth $663,000 after purchasing an additional 1,094 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Sunnova Energy International by 3.6% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,397 shares of the company’s stock valued at $465,000 after acquiring an additional 1,528 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Sunnova Energy International by 8.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock valued at $325,000 after acquiring an additional 1,554 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Sunnova Energy International by 14.0% in the 3rd quarter. Principal Financial Group Inc. now owns 12,893 shares of the company’s stock valued at $135,000 after acquiring an additional 1,584 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its stake in 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 worth $29,000 after purchasing an additional 1,835 shares in the last quarter.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, Director Akbar Mohamed acquired 152,450 shares of the stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the transaction, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Akbar Mohamed acquired 152,450 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the transaction, the director now directly owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the sale, the insider now owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,580 shares of company stock valued at $137,382. Corporate 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.