Walleye Capital LLC Makes New $1.15 Million Investment in Sunnova Energy International Inc. (NYSE:NOVA)

Walleye Capital LLC bought a new position in shares of Sunnova Energy International Inc. (NYSE:NOVAGet Rating) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 49,733 shares of the company’s stock, valued at approximately $1,147,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its holdings in shares of Sunnova Energy International by 7.4% in the fourth quarter. Alliancebernstein L.P. now owns 807,490 shares of the company’s stock worth $22,545,000 after buying an additional 55,575 shares in the last quarter. Sagefield Capital LP raised its stake in Sunnova Energy International by 118.2% in the first quarter. Sagefield Capital LP now owns 8,040 shares of the company’s stock valued at $185,000 after purchasing an additional 4,355 shares in the last quarter. Summit Partners Public Asset Management LLC raised its stake in Sunnova Energy International by 8,193.0% in the first quarter. Summit Partners Public Asset Management LLC now owns 1,717,822 shares of the company’s stock valued at $39,613,000 after purchasing an additional 1,697,108 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in Sunnova Energy International by 86.1% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 10,912 shares of the company’s stock valued at $261,000 after purchasing an additional 5,048 shares in the last quarter. Finally, Flputnam Investment Management Co. purchased a new stake in Sunnova Energy International in the first quarter valued at approximately $375,000.

Insider Activity

In other news, insider Meghan Nutting sold 2,999 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $24.51, for a total transaction of $73,505.49. Following the sale, the insider now owns 38,690 shares in the company, valued at approximately $948,291.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Sunnova Energy International news, insider William J. Berger sold 150,000 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $30.04, for a total value of $4,506,000.00. Following the completion of the transaction, the insider now owns 301,142 shares of the company’s stock, valued at approximately $9,046,305.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Meghan Nutting sold 2,999 shares of the business’s 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 owns 38,690 shares of the company’s stock, valued at $948,291.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,999 shares of company stock worth $4,635,505. Corporate insiders own 4.20% of the company’s stock.

Sunnova Energy International Stock Performance

NYSE:NOVA opened at $27.36 on Monday. The stock has a market cap of $3.14 billion, a P/E ratio of -27.36 and a beta of 2.30. The firm’s fifty day simple moving average is $24.62 and its 200 day simple moving average is $21.81. Sunnova Energy International Inc. has a twelve month low of $12.47 and a twelve month high of $46.40. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.45.

Sunnova Energy International (NYSE:NOVAGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.32) earnings per share for the quarter, meeting the consensus estimate of ($0.32). Sunnova Energy International had a negative net margin of 32.41% and a negative return on equity of 8.70%. The business had revenue of $147.01 million for the quarter, compared to analysts’ expectations of $86.90 million. During the same quarter in the previous year, the business posted ($0.42) earnings per share. The firm’s revenue for the quarter was up 120.9% compared to the same quarter last year. As a group, research analysts predict that Sunnova Energy International Inc. will post -1.27 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Piper Sandler downgraded shares of Sunnova Energy International from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $27.00 to $23.00 in a research note on Tuesday, July 19th. B. Riley raised their target price on shares of Sunnova Energy International from $26.00 to $35.00 in a research note on Friday, July 29th. Barclays began coverage on shares of Sunnova Energy International in a research note on Friday, August 5th. They issued an “overweight” rating and a $35.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Sunnova Energy International from $43.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. Finally, Wells Fargo & Company lifted their price target on shares of Sunnova Energy International from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 3rd. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Sunnova Energy International presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.14.

Sunnova Energy International Profile

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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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Institutional Ownership by Quarter for Sunnova Energy International (NYSE:NOVA)

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