State Board of Administration of Florida Retirement System Sells 720 Shares of Sunnova Energy International Inc. (NYSE:NOVA)

State Board of Administration of Florida Retirement System lowered its position in Sunnova Energy International Inc. (NYSE:NOVA – Get Rating) by 2.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 33,033 shares of the company’s stock after selling 720 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Sunnova Energy International were worth $595,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Advisor Group Holdings Inc. boosted its position in shares of Sunnova Energy International by 23.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,788 shares of the company’s stock valued at $387,000 after purchasing an additional 907 shares in the last quarter. Raymond James & Associates lifted its stake in Sunnova Energy International by 185.3% in the first quarter. Raymond James & Associates now owns 41,819 shares of the company’s stock valued at $964,000 after buying an additional 27,160 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Sunnova Energy International by 199.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 47,501 shares of the company’s stock worth $1,095,000 after buying an additional 31,646 shares in the last quarter. US Bancorp DE grew its position in shares of Sunnova Energy International by 168.8% during the 1st quarter. US Bancorp DE now owns 2,809 shares of the company’s stock worth $65,000 after buying an additional 1,764 shares during the period. Finally, MetLife Investment Management LLC grew its position in shares of Sunnova Energy International by 53.6% during the 1st quarter. MetLife Investment Management LLC now owns 47,065 shares of the company’s stock worth $1,085,000 after buying an additional 16,426 shares during the period.

Insiders Place Their Bets

In other news, insider Kelsey Hultberg sold 2,400 shares of the stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $14.03, for a total transaction of $33,672.00. Following the completion of the transaction, the insider now directly owns 19,974 shares of the company’s stock, valued at approximately $280,235.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.40% of the company’s stock.

Sunnova Energy International Stock Performance

NOVA stock opened at $15.30 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 3.18. The firm has a market cap of $1.78 billion, a PE ratio of -8.79 and a beta of 2.08. The business has a 50 day moving average of $15.58 and a 200-day moving average of $18.24. Sunnova Energy International Inc. has a 12-month low of $12.46 and a 12-month high of $31.47.

Sunnova Energy International (NYSE:NOVA – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.12). Sunnova Energy International had a negative net margin of 30.75% and a negative return on equity of 13.47%. The business had revenue of $161.70 million during the quarter, compared to the consensus estimate of $159.54 million. During the same quarter last year, the company earned ($0.30) EPS. The firm’s revenue for the quarter was up 146.0% compared to the same quarter last year. As a group, sell-side analysts expect that Sunnova Energy International Inc. will post -1.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NOVA shares. Wells Fargo & Company cut their target price on shares of Sunnova Energy International from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. Morgan Stanley started coverage on Sunnova Energy International in a research note on Monday, April 3rd. They issued an “overweight” rating and a $35.00 target price for the company. Capital One Financial reaffirmed an “overweight” rating on shares of Sunnova Energy International in a research note on Tuesday, March 21st. Guggenheim increased their price target on Sunnova Energy International from $51.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, February 28th. Finally, B. Riley decreased their price objective on Sunnova Energy International from $32.00 to $31.00 in a report on Tuesday, April 25th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.95.

About Sunnova Energy International

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Sunnova Energy International, Inc operates as a residential energy service provider. It offers solar energy systems, electric vehicle chargers, and home solar protection. The company was founded by William Jackson Berger in 2012 and is headquartered in Houston, TX.