Steward Partners Investment Advisory LLC lifted its position in Sunnova Energy International Inc. (NYSE:NOVA – Get Rating) by 198.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,073 shares of the company’s stock after acquiring an additional 2,042 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Sunnova Energy International were worth $71,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in NOVA. Pictet Asset Management SA raised its holdings in Sunnova Energy International by 20.0% during the fourth quarter. Pictet Asset Management SA now owns 5,122,156 shares of the company’s stock valued at $143,011,000 after acquiring an additional 852,226 shares during the period. Invesco Ltd. increased its stake in Sunnova Energy International by 18.0% during the fourth quarter. Invesco Ltd. now owns 4,338,719 shares of the company’s stock worth $121,137,000 after acquiring an additional 662,987 shares during the last quarter. Marshall Wace LLP increased its stake in Sunnova Energy International by 1,804.9% during the fourth quarter. Marshall Wace LLP now owns 631,941 shares of the company’s stock worth $17,644,000 after acquiring an additional 598,766 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Sunnova Energy International during the fourth quarter worth approximately $16,062,000. Finally, Handelsbanken Fonder AB grew its stake in shares of Sunnova Energy International by 14.0% during the fourth quarter. Handelsbanken Fonder AB now owns 4,025,654 shares of the company’s stock valued at $112,396,000 after buying an additional 494,869 shares during the last quarter.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on NOVA shares. JPMorgan Chase & Co. increased their price objective on Sunnova Energy International from $42.00 to $43.00 in a research note on Wednesday, July 20th. The Goldman Sachs Group downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating and cut their price target for the stock from $31.00 to $24.00 in a research report on Monday, June 20th. Northland Securities started coverage on Sunnova Energy International in a research report on Wednesday, May 18th. They set an “outperform” rating and a $30.00 price target on the stock. B. Riley raised their target price on Sunnova Energy International from $26.00 to $35.00 in a research report on Friday, July 29th. Finally, Wells Fargo & Company raised their price target on shares of Sunnova Energy International from $22.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.43.
Sunnova Energy International Stock Performance
Sunnova Energy International (NYSE:NOVA – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). The firm had revenue of $147.01 million for the quarter, compared to analyst estimates of $86.90 million. Sunnova Energy International had a negative net margin of 32.41% and a negative return on equity of 8.70%. Sunnova Energy International’s revenue for the quarter was up 120.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.42) earnings per share. As a group, equities research analysts anticipate that Sunnova Energy International Inc. will post -1.25 EPS for the current year.
Insider Transactions at Sunnova Energy International
In related news, insider Meghan Nutting sold 2,999 shares of Sunnova Energy International stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $24.51, for a total value of $73,505.49. Following the sale, the insider now directly owns 38,690 shares in the company, valued at approximately $948,291.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.20% of the company’s stock.
Sunnova Energy International Profile
Sunnova Energy International Inc provides residential energy services 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 diagnostics services. As of December 31, 2021, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,140 megawatts serving over 195,000 customers.
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