Roth Capital Analysts Reduce Earnings Estimates for Sunnova Energy International Inc. (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) – Roth Capital decreased their Q2 2024 earnings estimates for shares of Sunnova Energy International in a research note issued to investors on Thursday, May 2nd. Roth Capital analyst P. Shen now forecasts that the company will post earnings of ($0.43) per share for the quarter, down from their prior forecast of ($0.41). The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.39) per share. Roth Capital also issued estimates for Sunnova Energy International’s Q3 2024 earnings at ($0.06) EPS, FY2024 earnings at ($1.01) EPS, Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.70) EPS.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.35% and a negative net margin of 56.52%. The firm had revenue of $160.90 million during the quarter, compared to analysts’ expectations of $193.78 million. During the same quarter in the previous year, the business earned ($0.70) EPS. The company’s quarterly revenue was down .5% on a year-over-year basis.

Other analysts have also issued research reports about the company. Northland Securities reiterated a “market perform” rating and issued a $9.00 target price (down previously from $12.00) on shares of Sunnova Energy International in a research note on Friday, February 23rd. The Goldman Sachs Group reduced their price objective on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. Robert W. Baird cut their price target on Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday. Morgan Stanley restated an “equal weight” rating and issued a $14.00 price target (down previously from $24.00) on shares of Sunnova Energy International in a report on Monday, March 4th. Finally, Susquehanna cut their price objective on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating on the stock in a report on Friday, April 5th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.71.

Sunnova Energy International Trading Up 8.4 %

Shares of NYSE NOVA opened at $4.79 on Monday. The business’s 50 day moving average price is $5.05 and its 200-day moving average price is $9.09. Sunnova Energy International has a fifty-two week low of $3.37 and a fifty-two week high of $24.56. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $593.19 million, a price-to-earnings ratio of -1.42 and a beta of 2.15.

Institutional Investors Weigh In On Sunnova Energy International

Several hedge funds have recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Sunnova Energy International in the first quarter valued at approximately $25,000. Manchester Capital Management LLC grew its stake in Sunnova Energy International by 2,959.7% in the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after acquiring an additional 1,835 shares during the period. First Trust Direct Indexing L.P. purchased a new stake in Sunnova Energy International in the 1st quarter worth $66,000. BI Asset Management Fondsmaeglerselskab A S raised its position in Sunnova Energy International by 129.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock worth $72,000 after acquiring an additional 6,661 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Sunnova Energy International by 158.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock valued at $74,000 after purchasing an additional 4,310 shares in the last quarter.

Insider Buying and Selling at Sunnova Energy International

In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the transaction, the insider now owns 14,007 shares in the company, valued at approximately $74,377.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jack O. Lynch III sold 12,994 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $6.21, for a total value of $80,692.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $50,445.00. Following the sale, the insider now directly owns 14,007 shares in the company, valued at $74,377.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,580 shares of company stock valued at $137,382. 4.50% of the stock is owned by insiders.

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.