State of New Jersey Common Pension Fund D Sells 38,160 Shares of Sunnova Energy International Inc. (NYSE:NOVA)

State of New Jersey Common Pension Fund D trimmed its stake in Sunnova Energy International Inc. (NYSE:NOVA – Get Rating) by 29.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,229 shares of the company’s stock after selling 38,160 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.08% of Sunnova Energy International worth $2,058,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Captrust Financial Advisors grew its stake in shares of Sunnova Energy International by 236.4% in the first quarter. Captrust Financial Advisors now owns 1,487 shares of the company’s stock valued at $34,000 after buying an additional 1,045 shares in the last quarter. FinTrust Capital Advisors LLC bought a new position in shares of Sunnova Energy International in the 2nd quarter valued at about $38,000. Sierra Capital LLC acquired a new position in shares of Sunnova Energy International during the 2nd quarter worth about $58,000. US Bancorp DE raised its holdings in shares of Sunnova Energy International by 168.8% in the 1st quarter. US Bancorp DE now owns 2,809 shares of the company’s stock valued at $65,000 after purchasing an additional 1,764 shares during the period. Finally, Strs Ohio acquired a new stake in Sunnova Energy International in the 3rd quarter valued at about $66,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Sunnova Energy International in a research note on Monday, November 14th. They issued a “buy” rating and a $36.00 price objective on the stock. Evercore ISI reduced their price objective on shares of Sunnova Energy International from $38.00 to $35.00 in a research report on Friday, November 18th. Guggenheim increased their price objective on shares of Sunnova Energy International to $51.00 in a research report on Tuesday, November 1st. Piper Sandler lifted their target price on shares of Sunnova Energy International from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, December 22nd. Finally, B. Riley increased their price target on shares of Sunnova Energy International from $30.00 to $32.00 in a report on Monday, November 21st. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Sunnova Energy International has an average rating of “Moderate Buy” and an average target price of $35.28.

Sunnova Energy International Stock Performance

Shares of NOVA stock opened at $19.06 on Friday. The company has a market capitalization of $2.19 billion, a P/E ratio of -14.78 and a beta of 2.13. The company has a debt-to-equity ratio of 3.00, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a 50 day moving average price of $20.73 and a two-hundred day moving average price of $21.93. Sunnova Energy International Inc. has a fifty-two week low of $12.47 and a fifty-two week high of $31.47.

Sunnova Energy International (NYSE:NOVA – Get Rating) last released its earnings results on Wednesday, October 26th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.26). The business had revenue of $149.36 million during the quarter, compared to analysts’ expectations of $129.49 million. Sunnova Energy International had a negative return on equity of 10.57% and a negative net margin of 34.38%. Analysts expect that Sunnova Energy International Inc. will post -1.56 earnings per share for the current year.

About Sunnova Energy International

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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.