Sunnova Energy International (NYSE:NOVA) Posts Earnings Results, Beats Expectations By $0.22 EPS

Sunnova Energy International (NYSE:NOVA) announced its earnings results on Wednesday. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22, Briefing.com reports. The business had revenue of $160.90 million for the quarter, compared to the consensus estimate of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.35%. Sunnova Energy International’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted ($0.70) earnings per share.

Sunnova Energy International Stock Performance

NYSE:NOVA traded up $0.37 during mid-day trading on Friday, hitting $4.79. 15,120,959 shares of the company traded hands, compared to its average volume of 9,410,099. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58. The stock’s fifty day moving average price is $5.11 and its 200-day moving average price is $9.15. The firm has a market cap of $592.57 million, a price-to-earnings ratio of -1.43 and a beta of 2.15. Sunnova Energy International has a one year low of $3.37 and a one year high of $24.56.

Insider Transactions at Sunnova Energy International

In related news, insider Jack O. Lynch III sold 12,994 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $6.21, for a total transaction of $80,692.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jack O. Lynch III sold 12,994 shares of the firm’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 filing with the SEC, which is available through this hyperlink. Also, Director Akbar Mohamed purchased 152,450 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were acquired at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the acquisition, the director now owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The disclosure for this purchase can be found here. Insiders have sold 23,580 shares of company stock valued at $137,382 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. KeyCorp lowered shares of Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 23rd. BMO Capital Markets lowered their price objective on Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating for the company in a research report on Friday. Truist Financial cut 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 report on Tuesday. Janney Montgomery Scott raised shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Friday, March 22nd. Finally, Robert W. Baird lowered their price objective on shares of Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Sunnova Energy International has an average rating of “Moderate Buy” and a consensus target price of $16.71.

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.