Sunnova Energy International Inc. (NYSE:NOVA) Holdings Decreased by Federated Hermes Inc.

Federated Hermes Inc. cut its position in shares of Sunnova Energy International Inc. (NYSE:NOVA) by 56.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 335,734 shares of the company’s stock after selling 439,121 shares during the period. Federated Hermes Inc.’s holdings in Sunnova Energy International were worth $5,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in NOVA. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Sunnova Energy International by 3.6% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,397 shares of the company’s stock worth $465,000 after buying an additional 1,528 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Sunnova Energy International by 8.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock worth $325,000 after acquiring an additional 1,554 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Sunnova Energy International by 14.0% in the third quarter. Principal Financial Group Inc. now owns 12,893 shares of the company’s stock valued at $135,000 after acquiring an additional 1,584 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Sunnova Energy International by 3.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 66,485 shares of the company’s stock valued at $696,000 after purchasing an additional 1,962 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Sunnova Energy International by 12.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 25,767 shares of the company’s stock worth $393,000 after purchasing an additional 2,909 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Northland Securities restated a “market perform” rating and set a $9.00 price objective (down previously from $12.00) on shares of Sunnova Energy International in a research report on Friday, February 23rd. Truist Financial restated a “buy” rating and set a $16.00 price target (down previously from $18.00) on shares of Sunnova Energy International in a research report on Monday, February 26th. Morgan Stanley reiterated an “equal weight” rating and issued a $14.00 price objective (down from $24.00) on shares of Sunnova Energy International in a research report on Monday, March 4th. Mizuho reduced their target price on shares of Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Finally, Janney Montgomery Scott upgraded shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Friday, March 22nd. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sunnova Energy International has an average rating of “Moderate Buy” and an average target price of $18.48.

Sunnova Energy International Trading Down 6.5 %

Shares of NOVA opened at $3.68 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58. The firm’s 50 day moving average is $5.78 and its 200-day moving average is $9.36. Sunnova Energy International Inc. has a 12-month low of $3.52 and a 12-month high of $24.56.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, February 21st. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. The firm had revenue of $194.18 million during the quarter, compared to analysts’ expectations of $226.09 million. Sunnova Energy International had a negative net margin of 58.00% and a negative return on equity of 13.26%. On average, sell-side analysts anticipate that Sunnova Energy International Inc. will post -2.37 earnings per share for the current year.

Insider Transactions at Sunnova Energy International

In related news, Director Akbar Mohamed bought 152,450 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were bought at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the transaction, the director now directly owns 236,139 shares of the company’s stock, valued at $1,634,081.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Paul S. Mathews sold 9,500 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Akbar Mohamed acquired 152,450 shares of the stock in a transaction on Wednesday, February 28th. The shares were purchased at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the transaction, the director now owns 236,139 shares in the company, valued at approximately $1,634,081.88. The disclosure for this purchase can be found here. Insiders sold a total of 23,580 shares of company stock valued at $137,382 in the last three months. 4.50% of the stock is currently owned by corporate insiders.

Sunnova Energy International Company Profile

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.