Sunnova Energy International Inc. Forecasted to Earn Q2 2024 Earnings of ($0.50) Per Share (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) – Equities research analysts at Northland Capmk issued their Q2 2024 earnings estimates for Sunnova Energy International in a note issued to investors on Monday, May 6th. Northland Capmk analyst A. Sinha anticipates that the company will post earnings per share of ($0.50) for the quarter. The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.39) per share. Northland Capmk also issued estimates for Sunnova Energy International’s Q3 2024 earnings at ($0.34) EPS, Q4 2024 earnings at ($0.24) EPS and FY2024 earnings at ($1.65) EPS.

Other equities analysts also recently issued research reports about the company. Evercore ISI cut their target price on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Janney Montgomery Scott upgraded shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Friday, March 22nd. KeyCorp lowered shares of Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 23rd. Truist Financial dropped their price objective on Sunnova Energy International from $16.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Finally, Northland Securities reaffirmed a “market perform” rating and set a $9.00 target price (down from $12.00) on shares of Sunnova Energy International in a research report on Friday, February 23rd. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sunnova Energy International presently has a consensus rating of “Moderate Buy” and an average price target of $16.71.

Sunnova Energy International Trading Up 5.4 %

Shares of NOVA stock opened at $4.33 on Wednesday. The company has a market cap of $536.83 million, a PE ratio of -1.26 and a beta of 2.15. Sunnova Energy International has a 1 year low of $3.37 and a 1 year high of $24.56. The stock’s 50 day simple moving average is $4.91 and its two-hundred day simple moving average is $9.00. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.74 and a quick ratio of 0.74.

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

Insider Transactions at Sunnova Energy International

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

Institutional Investors Weigh In On Sunnova Energy International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Sunnova Energy International in the first quarter worth about $25,000. Manchester Capital Management LLC boosted its position 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. First Trust Direct Indexing L.P. acquired a new stake in shares of Sunnova Energy International during the 1st quarter worth approximately $66,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Sunnova Energy International by 129.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock valued at $72,000 after purchasing an additional 6,661 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Sunnova Energy International by 158.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock worth $74,000 after buying an additional 4,310 shares in the last quarter.

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.