Research Analysts Offer Predictions for Sunnova Energy International Inc.’s Q1 2024 Earnings (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) – Stock analysts at KeyCorp issued their Q1 2024 earnings estimates for shares of Sunnova Energy International in a research note issued to investors on Monday, April 22nd. KeyCorp analyst S. Karp expects that the company will earn ($0.77) per share for the quarter. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.28) per share. KeyCorp also issued estimates for Sunnova Energy International’s Q2 2024 earnings at ($0.83) EPS and Q3 2024 earnings at ($0.39) EPS.

A number of other research analysts have also recently commented on NOVA. Janney Montgomery Scott upgraded shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Friday, March 22nd. Northland Securities reissued a “market perform” rating and issued a $9.00 price target (down from $12.00) on shares of Sunnova Energy International in a research note on Friday, February 23rd. Mizuho reduced their price objective on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Wells Fargo & Company reissued an “equal weight” rating and issued a $6.00 target price (down previously from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. Finally, Morgan Stanley restated an “equal weight” rating and set a $14.00 price target (down from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.48.

Sunnova Energy International Stock Performance

Shares of NYSE NOVA opened at $3.92 on Wednesday. The stock’s 50-day moving average is $5.94 and its 200 day moving average is $9.40. The stock has a market cap of $485.45 million, a price-to-earnings ratio of -1.12 and a beta of 2.08. Sunnova Energy International has a 1-year low of $3.52 and a 1-year high of $24.56. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.58.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. The business had revenue of $194.18 million for the quarter, compared to the consensus estimate of $226.09 million.

Insiders Place Their Bets

In related news, insider Jack O. Lynch III sold 12,994 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $6.21, for a total transaction of $80,692.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International 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 transaction, the insider now owns 14,007 shares in the company, valued at approximately $74,377.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jack O. Lynch III sold 12,994 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was 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. Over the last 90 days, insiders sold 23,580 shares of company stock worth $137,382. 4.50% of the stock is owned by corporate insiders.

Institutional Trading of Sunnova Energy International

Several hedge funds have recently bought and sold shares of NOVA. Commonwealth Equity Services LLC lifted its position in shares of Sunnova Energy International by 34.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 17,527 shares of the company’s stock valued at $184,000 after buying an additional 4,450 shares in the last quarter. Raymond James & Associates boosted its position in shares of Sunnova Energy International by 19.5% in the third quarter. Raymond James & Associates now owns 95,096 shares of the company’s stock worth $996,000 after purchasing an additional 15,503 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Sunnova Energy International by 3.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 66,485 shares of the company’s stock worth $696,000 after purchasing an additional 1,962 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Sunnova Energy International by 37.2% during the 3rd quarter. Mackenzie Financial Corp now owns 115,657 shares of the company’s stock valued at $1,211,000 after purchasing an additional 31,338 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Sunnova Energy International by 4.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 105,299 shares of the company’s stock valued at $1,102,000 after buying an additional 4,411 shares in 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.