Tower Research Capital LLC TRC cut its holdings in Sunnova Energy International Inc. (NYSE:NOVA – Free Report) by 19.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,822 shares of the company’s stock after selling 1,366 shares during the period. Tower Research Capital LLC TRC’s holdings in Sunnova Energy International were worth $91,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the business. Captrust Financial Advisors boosted 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 during the period. US Bancorp DE raised its holdings in 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 acquiring an additional 1,764 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Sunnova Energy International during the 1st quarter valued at $67,000. Kepos Capital LP grew its holdings in shares of Sunnova Energy International by 18.1% during the 4th quarter. Kepos Capital LP now owns 4,012 shares of the company’s stock worth $72,000 after purchasing an additional 615 shares in the last quarter. Finally, Point72 Middle East FZE bought a new position in shares of Sunnova Energy International in the fourth quarter worth $81,000.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on NOVA shares. BMO Capital Markets cut their price objective on shares of Sunnova Energy International from $25.00 to $21.00 in a research report on Monday, July 31st. Bank of America increased their price target on shares of Sunnova Energy International from $25.00 to $27.00 in a research report on Wednesday, July 19th. Guggenheim decreased their price objective on shares of Sunnova Energy International from $63.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, August 8th. Barclays upped their target price on Sunnova Energy International from $27.00 to $29.00 in a research note on Thursday, July 13th. Finally, Truist Financial reiterated a “buy” rating and issued a $35.00 price target on shares of Sunnova Energy International in a research note on Friday, July 14th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Sunnova Energy International presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.
Sunnova Energy International Stock Performance
Shares of Sunnova Energy International stock opened at $14.03 on Tuesday. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -6.50 and a beta of 2.06. Sunnova Energy International Inc. has a twelve month low of $12.46 and a twelve month high of $29.13. The company’s fifty day moving average is $17.22 and its 200 day moving average is $16.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 3.24.
Sunnova Energy International (NYSE:NOVA – Get Free Report) last released its quarterly earnings results on Wednesday, July 26th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.37). Sunnova Energy International had a negative net margin of 37.16% and a negative return on equity of 15.78%. The company had revenue of $166.38 million during the quarter, compared to the consensus estimate of $195.53 million. During the same quarter last year, the firm posted ($0.32) EPS. The company’s quarterly revenue was up 13.2% on a year-over-year basis. Sell-side analysts forecast that Sunnova Energy International Inc. will post -1.64 EPS for the current year.
Insider Buying and Selling at Sunnova Energy International
In other news, insider William J. Berger sold 47,150 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $17.86, for a total value of $842,099.00. Following the sale, the insider now directly owns 365,222 shares of the company’s stock, valued at approximately $6,522,864.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.40% of the company’s stock.
Sunnova Energy International Profile
Sunnova Energy International Inc provides 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 diagnostics services. As of December 31, 2022, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,627 megawatts serving over 279,000 customers.
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