Federated Hermes Inc. Cuts Position in Sunnova Energy International Inc. (NYSE:NOVA)

Federated Hermes Inc. decreased its position in Sunnova Energy International Inc. (NYSE:NOVA) by 56.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 335,734 shares of the company’s stock after selling 439,121 shares during the quarter. Federated Hermes Inc. owned 0.27% of Sunnova Energy International worth $5,120,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in NOVA. Commonwealth Equity Services LLC raised its holdings in shares of Sunnova Energy International by 34.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,527 shares of the company’s stock valued at $184,000 after purchasing an additional 4,450 shares in the last quarter. Raymond James & Associates lifted its holdings in Sunnova Energy International by 19.5% during the 3rd quarter. Raymond James & Associates now owns 95,096 shares of the company’s stock worth $996,000 after buying an additional 15,503 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Sunnova Energy International by 3.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 66,485 shares of the company’s stock worth $696,000 after buying an additional 1,962 shares during the last quarter. Mackenzie Financial Corp boosted 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 worth $1,211,000 after acquiring an additional 31,338 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Sunnova Energy International by 4.4% in 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 acquiring an additional 4,411 shares during the last quarter.

Insider Buying and Selling at Sunnova Energy International

In other news, insider Paul S. Mathews sold 9,500 shares of the company’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 transaction, the insider now directly owns 14,007 shares of the company’s stock, valued at approximately $74,377.17. The transaction was disclosed in a filing with the SEC, 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 that occurred 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 sale, the insider now directly owns 14,007 shares in the company, valued at approximately $74,377.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Akbar Mohamed purchased 152,450 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the purchase, the director now directly owns 236,139 shares in the company, valued at $1,634,081.88. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 23,580 shares of company stock valued at $137,382. 4.50% of the stock is owned by company insiders.

Analyst Ratings Changes

NOVA has been the subject of a number of research analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $6.00 price target (down from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. Evercore ISI dropped their target price on shares of Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $14.00 price target (down from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. The Goldman Sachs Group decreased their price objective on shares of Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Finally, Mizuho cut their target price on 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.48.

Sunnova Energy International Stock Performance

Shares of NYSE:NOVA opened at $3.68 on Friday. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50-day moving average price of $5.78 and a 200 day moving average price of $9.36. Sunnova Energy International Inc. has a 52 week low of $3.52 and a 52 week high of $24.56.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($0.20) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $226.09 million. As a group, research analysts predict that Sunnova Energy International Inc. will post -2.37 EPS for the current fiscal year.

Sunnova Energy International 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.