Sunnova Energy International Inc. (NYSE:NOVA) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lowered its position in Sunnova Energy International Inc. (NYSE:NOVA) by 19.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 416,897 shares of the company’s stock after selling 99,761 shares during the period. First Trust Advisors LP owned 0.33% of Sunnova Energy International worth $1,430,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOVA. CenterBook Partners LP purchased a new position in shares of Sunnova Energy International in the fourth quarter worth about $8,565,000. Invesco Ltd. lifted its stake in Sunnova Energy International by 55.2% in the 4th quarter. Invesco Ltd. now owns 6,082,399 shares of the company’s stock worth $20,863,000 after purchasing an additional 2,162,379 shares in the last quarter. Capital Fund Management S.A. boosted its holdings in shares of Sunnova Energy International by 456.4% during the 4th quarter. Capital Fund Management S.A. now owns 1,737,569 shares of the company’s stock worth $5,960,000 after purchasing an additional 1,425,281 shares during the last quarter. Teilinger Capital Ltd. purchased a new stake in shares of Sunnova Energy International in the fourth quarter valued at approximately $3,588,000. Finally, Quinn Opportunity Partners LLC increased its holdings in shares of Sunnova Energy International by 4,224.2% in the fourth quarter. Quinn Opportunity Partners LLC now owns 886,460 shares of the company’s stock valued at $3,041,000 after purchasing an additional 865,960 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Royal Bank of Canada lowered their price objective on Sunnova Energy International from $5.00 to $0.75 and set a “sector perform” rating on the stock in a research note on Tuesday, March 4th. Wells Fargo & Company lowered shares of Sunnova Energy International from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $4.00 to $0.50 in a report on Tuesday, March 4th. Mizuho cut shares of Sunnova Energy International from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $11.00 to $1.00 in a research report on Wednesday, March 5th. The Goldman Sachs Group decreased their target price on shares of Sunnova Energy International from $1.00 to $0.50 and set a “neutral” rating on the stock in a report on Wednesday, April 2nd. Finally, Truist Financial downgraded shares of Sunnova Energy International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Sunnova Energy International presently has an average rating of “Hold” and a consensus price target of $4.36.

Sunnova Energy International Price Performance

NOVA stock opened at $0.19 on Wednesday. Sunnova Energy International Inc. has a 1 year low of $0.15 and a 1 year high of $13.00. The firm has a market capitalization of $24.13 million, a P/E ratio of -0.06 and a beta of 3.01. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50-day moving average is $0.35 and its two-hundred day moving average is $2.55.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The firm had revenue of $224.13 million during the quarter, compared to analysts’ expectations of $235.85 million. During the same quarter in the prior year, the firm earned $0.37 EPS. Analysts anticipate that Sunnova Energy International Inc. will post -2.63 earnings per share for the current fiscal year.

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.