Sunnova Energy International Inc. (NYSE:NOVA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Sunnova Energy International Inc. (NYSE:NOVA) by 32.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 422,033 shares of the company’s stock after selling 205,253 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.36% of Sunnova Energy International worth $7,727,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Psagot Value Holdings Ltd. Israel grew its holdings in shares of Sunnova Energy International by 15.3% during the second quarter. Psagot Value Holdings Ltd. Israel now owns 12,921 shares of the company’s stock worth $229,000 after purchasing an additional 1,712 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Sunnova Energy International by 9.6% during the second quarter. Handelsbanken Fonder AB now owns 6,154,366 shares of the company’s stock worth $112,686,000 after buying an additional 538,909 shares during the last quarter. Money Concepts Capital Corp purchased a new position in shares of Sunnova Energy International during the second quarter worth about $9,655,000. Portman Square Capital LLP grew its holdings in shares of Sunnova Energy International by 131.0% during the second quarter. Portman Square Capital LLP now owns 32,815 shares of the company’s stock worth $601,000 after buying an additional 138,629 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Sunnova Energy International by 34.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,726 shares of the company’s stock worth $50,000 after buying an additional 700 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NOVA shares. Morgan Stanley lowered their price target on Sunnova Energy International from $38.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. BNP Paribas initiated coverage on Sunnova Energy International in a report on Friday, October 20th. They issued a “neutral” rating and a $14.00 price objective on the stock. KeyCorp lowered their price objective on Sunnova Energy International from $31.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, October 5th. Susquehanna lowered their price objective on Sunnova Energy International from $32.00 to $25.00 and set a “positive” rating on the stock in a report on Monday, October 2nd. Finally, Raymond James lowered their price objective on Sunnova Energy International from $30.00 to $25.00 and set a “strong-buy” rating on the stock in a report on Tuesday, October 3rd. Six equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.98.

Sunnova Energy International Trading Up 3.8 %

Shares of Sunnova Energy International stock opened at $10.73 on Monday. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.14 and a quick ratio of 1.14. Sunnova Energy International Inc. has a 1 year low of $7.61 and a 1 year high of $24.56. The company has a market capitalization of $1.31 billion, a P/E ratio of -4.99 and a beta of 2.14. The business has a 50 day moving average price of $10.21 and a 200 day moving average price of $14.61.

Sunnova Energy International (NYSE:NOVA) last released its earnings results on Wednesday, October 25th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.19). The firm had revenue of $198.40 million during the quarter, compared to analysts’ expectations of $197.21 million. Sunnova Energy International had a negative return on equity of 14.83% and a negative net margin of 34.79%. Sell-side analysts anticipate that Sunnova Energy International Inc. will post -1.86 EPS for the current fiscal year.

Sunnova Energy International Company 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.