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

Sunnova Energy International Inc. (NYSE:NOVA) – Investment analysts at KeyCorp issued their Q1 2024 earnings estimates for shares of Sunnova Energy International in a research note issued to investors on Monday, April 22nd. KeyCorp analyst S. Karp anticipates that the company will post earnings per share of ($0.77) for the quarter. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.37) 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.

A number of other research analysts have also weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 price objective (down from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Susquehanna reduced their price objective on shares of 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. Northland Securities reissued a “market perform” rating and issued a $9.00 price target (down from $12.00) on shares of Sunnova Energy International in a report on Friday, February 23rd. The Goldman Sachs Group cut their price target on shares of Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, April 11th. Finally, Mizuho cut their price target on shares of Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating for the company in a report on Friday, April 19th. Seven investment 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. According to MarketBeat, Sunnova Energy International has an average rating of “Moderate Buy” and an average price target of $18.48.

Sunnova Energy International Stock Down 6.5 %

Sunnova Energy International stock opened at $3.68 on Wednesday. Sunnova Energy International has a 1-year low of $3.52 and a 1-year high of $24.56. The firm has a market capitalization of $455.11 million, a price-to-earnings ratio of -1.05 and a beta of 2.08. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.58. The firm has a 50 day simple moving average of $5.78 and a 200 day simple moving average of $9.36.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) earnings per share 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.

Insider Buying and Selling

In related news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction on Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the transaction, the insider now owns 14,007 shares in the company, valued at approximately $74,377.17. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Akbar Mohamed acquired 152,450 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were purchased 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 owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the transaction, the insider now owns 14,007 shares in the company, valued at approximately $74,377.17. The disclosure for this sale can be found here. Insiders have sold a total of 23,580 shares of company stock worth $137,382 in the last 90 days. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunnova Energy International

A number of hedge funds have recently modified their holdings of NOVA. Electron Capital Partners LLC increased its position in shares of Sunnova Energy International by 42.9% in the third quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company’s stock valued at $55,582,000 after acquiring an additional 1,593,098 shares during the period. Van ECK Associates Corp increased its position in shares of Sunnova Energy International by 124.4% during the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock valued at $23,841,000 after buying an additional 866,705 shares during the period. Banque Pictet & Cie SA purchased a new position in shares of Sunnova Energy International during the third quarter valued at about $6,906,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Sunnova Energy International by 57.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company’s stock valued at $13,872,000 after buying an additional 484,150 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of Sunnova Energy International during the fourth quarter valued at about $6,930,000.

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.