Q1 2024 EPS Estimates for Sunnova Energy International Inc. Decreased by B. Riley (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) – Investment analysts at B. Riley reduced their Q1 2024 EPS estimates for shares of Sunnova Energy International in a note issued to investors on Monday, April 22nd. B. Riley analyst C. Souther now anticipates that the company will earn ($1.06) per share for the quarter, down from their prior estimate of ($0.83). B. Riley has a “Buy” rating and a $15.00 price target on the stock. The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.28) per share. B. Riley also issued estimates for Sunnova Energy International’s Q2 2024 earnings at ($0.74) EPS, Q3 2024 earnings at ($0.77) EPS, Q4 2024 earnings at ($1.03) EPS, FY2024 earnings at ($3.60) EPS and FY2025 earnings at ($3.40) EPS.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $194.18 million for the quarter, compared to analyst estimates of $226.09 million.

NOVA has been the topic of a number of other research reports. Truist Financial restated a “buy” rating and set a $16.00 target price (down previously from $18.00) on shares of Sunnova Energy International in a research report on Monday, February 26th. KeyCorp lowered shares of Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. Janney Montgomery Scott upgraded shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Friday, March 22nd. Susquehanna reduced their price target on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating on the stock in a research report on Friday, April 5th. Finally, Mizuho reduced their price target on shares of Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.48.

Sunnova Energy International Trading Up 2.7 %

Shares of NYSE:NOVA opened at $3.93 on Wednesday. The company’s 50 day moving average price is $6.10 and its two-hundred day moving average price is $9.44. Sunnova Energy International has a 12-month low of $3.52 and a 12-month high of $24.56. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85.

Insider Activity

In other news, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $74,377.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Akbar Mohamed acquired 152,450 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was bought at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the transaction, the director now directly owns 236,139 shares in the company, valued at approximately $1,634,081.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul S. Mathews sold 9,500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the sale, the insider now owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,580 shares of company stock valued at $137,382. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Sunnova Energy International

A number of large investors have recently bought and sold shares of the stock. Ballentine Partners LLC acquired a new position in shares of Sunnova Energy International during the fourth quarter valued at about $161,000. Vanguard Group Inc. grew its holdings in shares of Sunnova Energy International by 3.8% during the third quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company’s stock valued at $107,532,000 after buying an additional 379,032 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Sunnova Energy International during the third quarter valued at about $593,000. Money Concepts Capital Corp grew its holdings in shares of Sunnova Energy International by 20.3% during the third quarter. Money Concepts Capital Corp now owns 634,117 shares of the company’s stock valued at $6,639,000 after buying an additional 106,819 shares during the last quarter. Finally, Quantbot Technologies LP grew its holdings in shares of Sunnova Energy International by 21.8% during the third quarter. Quantbot Technologies LP now owns 188,150 shares of the company’s stock valued at $1,970,000 after buying an additional 33,629 shares during the last quarter.

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.