Sunnova Energy International Inc. (NYSE:NOVA) Expected to Announce Quarterly Sales of $65.30 Million

Analysts forecast that Sunnova Energy International Inc. (NYSE:NOVA – Get Rating) will announce $65.30 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Sunnova Energy International’s earnings, with the lowest sales estimate coming in at $53.00 million and the highest estimate coming in at $71.78 million. Sunnova Energy International posted sales of $41.28 million during the same quarter last year, which would indicate a positive year over year growth rate of 58.2%. The business is scheduled to issue its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Sunnova Energy International will report full year sales of $345.26 million for the current fiscal year, with estimates ranging from $319.90 million to $376.50 million. For the next year, analysts forecast that the company will post sales of $480.37 million, with estimates ranging from $411.40 million to $575.21 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Sunnova Energy International.

Sunnova Energy International (NYSE:NOVA – Get Rating) last released its earnings results on Wednesday, February 23rd. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.09. Sunnova Energy International had a negative net margin of 57.14% and a negative return on equity of 10.44%. The business had revenue of $65.02 million during the quarter, compared to analyst estimates of $64.66 million.

A number of research analysts have commented on NOVA shares. Robert W. Baird decreased their target price on shares of Sunnova Energy International from $56.00 to $46.00 in a research report on Monday, February 28th. The Goldman Sachs Group cut shares of Sunnova Energy International from a “conviction-buy” rating to a “buy” rating in a research report on Sunday, January 9th. KeyCorp decreased their target price on shares of Sunnova Energy International from $50.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, January 13th. JPMorgan Chase & Co. decreased their target price on shares of Sunnova Energy International from $66.00 to $53.00 in a research report on Thursday, January 20th. Finally, Truist Financial decreased their target price on shares of Sunnova Energy International from $53.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, January 24th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $48.00.

Shares of NOVA traded down $0.53 during mid-day trading on Friday, reaching $20.86. The stock had a trading volume of 4,689,780 shares, compared to its average volume of 2,975,655. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.98 and a current ratio of 1.98. Sunnova Energy International has a 52-week low of $13.90 and a 52-week high of $46.40. The company has a fifty day moving average of $21.27. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -16.31 and a beta of 2.21.

In related news, insider Chris Hayden sold 3,780 shares of Sunnova Energy International stock in a transaction on Monday, March 14th. The shares were sold at an average price of $21.71, for a total value of $82,063.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Akbar Mohamed acquired 10,000 shares of the stock in a transaction that occurred on Thursday, March 3rd. The stock was purchased at an average price of $19.09 per share, for a total transaction of $190,900.00. The disclosure for this purchase can be found here. Company insiders own 4.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in NOVA. Morgan Stanley lifted its holdings in Sunnova Energy International by 56.1% in the second quarter. Morgan Stanley now owns 645,284 shares of the company’s stock valued at $24,300,000 after acquiring an additional 231,784 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Sunnova Energy International by 23.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 71,695 shares of the company’s stock worth $2,700,000 after buying an additional 13,847 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Sunnova Energy International by 21.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,428 shares of the company’s stock worth $80,000 after buying an additional 422 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Sunnova Energy International by 83.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 288,000 shares of the company’s stock worth $9,065,000 after buying an additional 131,000 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Sunnova Energy International by 98.8% during the 3rd quarter. Nordea Investment Management AB now owns 570,968 shares of the company’s stock worth $18,716,000 after buying an additional 283,766 shares during the last quarter.

Sunnova Energy International Company Profile (Get Rating)

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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