Connor Clark & Lunn Investment Management Ltd. Boosts Position in Sunnova Energy International Inc. (NYSE:NOVA)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Sunnova Energy International Inc. (NYSE:NOVA) by 85.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,380,011 shares of the company’s stock after buying an additional 635,325 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 1.10% of Sunnova Energy International worth $4,733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOVA. Kempner Capital Management Inc. purchased a new stake in Sunnova Energy International in the fourth quarter worth $51,000. PFG Investments LLC grew its stake in Sunnova Energy International by 37.0% in the fourth quarter. PFG Investments LLC now owns 18,345 shares of the company’s stock worth $63,000 after purchasing an additional 4,955 shares during the period. Versor Investments LP purchased a new stake in Sunnova Energy International in the fourth quarter worth $79,000. Atria Wealth Solutions Inc. grew its stake in Sunnova Energy International by 85.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 24,845 shares of the company’s stock worth $85,000 after purchasing an additional 11,435 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its stake in Sunnova Energy International by 327.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 26,638 shares of the company’s stock worth $91,000 after purchasing an additional 20,400 shares during the period.

Sunnova Energy International Stock Up 4.0 %

NOVA stock opened at $0.32 on Monday. Sunnova Energy International Inc. has a fifty-two week low of $0.25 and a fifty-two week high of $13.00. The business’s 50-day moving average is $2.24 and its two-hundred day moving average is $4.96. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $39.40 million, a price-to-earnings ratio of -0.09 and a beta of 2.64.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Monday, March 3rd. The company reported ($2.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm had revenue of $224.13 million during the quarter, compared to the consensus estimate of $235.85 million. During the same period in the prior year, the company posted $0.37 EPS. As a group, analysts forecast that Sunnova Energy International Inc. will post -2.63 earnings per share for the current year.

Analyst Ratings Changes

NOVA has been the topic of several recent research reports. TD Cowen began coverage on Sunnova Energy International in a research note on Thursday, December 19th. They issued a “hold” rating and a $5.00 price target on the stock. The Goldman Sachs Group downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $1.00 in a report on Tuesday, March 4th. Piper Sandler dropped their target price on Sunnova Energy International from $4.50 to $1.00 and set a “neutral” rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. downgraded Sunnova Energy International from an “overweight” rating to a “neutral” rating in a report on Monday, March 3rd. Finally, Janney Montgomery Scott downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating and set a $1.00 target price on the stock. in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.39.

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.