Equities Analysts Issue Forecasts for Sunnova Energy International Inc.’s Q1 2024 Earnings (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) – Equities research analysts at KeyCorp issued their Q1 2024 earnings estimates for shares of Sunnova Energy International in a report issued on Monday, April 22nd. KeyCorp analyst S. Karp anticipates that the company will post earnings per share of ($0.77) for the quarter. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.28) per share. KeyCorp also issued estimates for Sunnova Energy International’s Q2 2024 earnings at ($0.83) EPS and Q3 2024 earnings at ($0.39) EPS.

NOVA has been the subject of several other research reports. Janney Montgomery Scott raised shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Friday, March 22nd. The Goldman Sachs Group dropped their price target on shares of Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Evercore ISI decreased their target price on Sunnova Energy International from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, February 23rd. Wells Fargo & Company restated an “equal weight” rating and set a $6.00 price target (down previously from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 price objective (down previously from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.48.

Sunnova Energy International Stock Performance

NYSE NOVA opened at $3.92 on Wednesday. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $485.45 million, a P/E ratio of -1.12 and a beta of 2.08. The stock has a 50-day moving average of $5.94 and a two-hundred day moving average of $9.40. Sunnova Energy International has a 1-year low of $3.52 and a 1-year high of $24.56.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. The business had revenue of $194.18 million during the quarter, compared to analysts’ expectations of $226.09 million. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%.

Hedge Funds Weigh In On Sunnova Energy International

Institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Sunnova Energy International by 2.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock valued at $663,000 after buying an additional 1,094 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Sunnova Energy International by 3.6% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,397 shares of the company’s stock worth $465,000 after purchasing an additional 1,528 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Sunnova Energy International by 8.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock worth $325,000 after purchasing an additional 1,554 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Sunnova Energy International by 14.0% in the 3rd quarter. Principal Financial Group Inc. now owns 12,893 shares of the company’s stock valued at $135,000 after purchasing an additional 1,584 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its stake in shares of Sunnova Energy International by 2,959.7% in the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after purchasing an additional 1,835 shares during the period.

Insiders Place Their Bets

In related news, insider Paul S. Mathews sold 9,500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the completion of the sale, the insider now owns 14,007 shares in the company, valued at approximately $74,377.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Jack O. Lynch III sold 12,994 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $6.21, for a total value of $80,692.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul S. Mathews sold 9,500 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $5.31, for a total value of $50,445.00. Following the sale, the insider now directly owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale can be found here. Insiders have sold a total of 23,580 shares of company stock valued at $137,382 over the last quarter. Company insiders own 4.50% of the company’s stock.

About Sunnova Energy International

Sunnova Energy International Inc engages in the provision of 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 solar energy system and energy storage system diagnostics services.