Intech Investment Management LLC Purchases New Position in Sunnova Energy International Inc. (NYSE:NOVA)

Intech Investment Management LLC purchased a new stake in shares of Sunnova Energy International Inc. (NYSE:NOVA) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 37,940 shares of the company’s stock, valued at approximately $370,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Sunnova Energy International by 190.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock valued at $7,253,000 after buying an additional 488,623 shares during the period. Quest Partners LLC increased its position in shares of Sunnova Energy International by 101,695.5% during the third quarter. Quest Partners LLC now owns 67,185 shares of the company’s stock valued at $654,000 after buying an additional 67,119 shares during the period. Mizuho Markets Americas LLC increased its position in shares of Sunnova Energy International by 53.7% during the third quarter. Mizuho Markets Americas LLC now owns 282,805 shares of the company’s stock valued at $2,755,000 after buying an additional 98,800 shares during the period. GSA Capital Partners LLP increased its position in shares of Sunnova Energy International by 28.4% during the third quarter. GSA Capital Partners LLP now owns 130,741 shares of the company’s stock valued at $1,273,000 after buying an additional 28,931 shares during the period. Finally, First Trust Direct Indexing L.P. increased its position in shares of Sunnova Energy International by 11.6% during the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock valued at $189,000 after buying an additional 2,016 shares during the period.

Sunnova Energy International Stock Down 7.6 %

Shares of Sunnova Energy International stock opened at $4.97 on Wednesday. The company has a market cap of $621.00 million, a price-to-earnings ratio of -1.48 and a beta of 2.22. The company’s 50 day moving average is $5.82 and its 200 day moving average is $6.96. Sunnova Energy International Inc. has a twelve month low of $2.99 and a twelve month high of $16.35. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The business had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same quarter in the previous year, the business posted ($0.53) earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. Research analysts anticipate that Sunnova Energy International Inc. will post -2.44 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NOVA shares. Guggenheim cut shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. BMO Capital Markets restated a “market perform” rating and issued a $8.00 price objective (down previously from $10.00) on shares of Sunnova Energy International in a report on Friday, November 1st. Robert W. Baird cut their price objective on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Citigroup cut their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Morgan Stanley cut their price objective on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.73.

Insiders Place Their Bets

In other Sunnova Energy International news, Director Akbar Mohamed purchased 50,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were acquired at an average cost of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the transaction, the director now owns 352,654 shares of the company’s stock, valued at approximately $1,283,660.56. The trade was a 16.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Eric Michael Williams purchased 13,800 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the completion of the transaction, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at approximately $49,680. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 118,517 shares of company stock worth $439,605. 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.