Sunnova Energy International (NYSE:NOVA) Issues Earnings Results

Sunnova Energy International (NYSE:NOVA) announced its earnings results on Wednesday. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22, Briefing.com reports. The business had revenue of $160.90 million during the quarter, compared to analyst estimates of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.35%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.70) EPS.

Sunnova Energy International Price Performance

NYSE NOVA traded up $0.37 during trading on Friday, hitting $4.79. 15,122,585 shares of the stock traded hands, compared to its average volume of 9,639,226. The company has a market capitalization of $593.19 million, a P/E ratio of -1.42 and a beta of 2.15. Sunnova Energy International has a 12-month low of $3.37 and a 12-month high of $24.56. The firm has a 50-day simple moving average of $5.05 and a 200-day simple moving average of $9.11. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58.

Insider Activity

In other Sunnova Energy International news, Director Akbar Mohamed purchased 152,450 shares of Sunnova Energy International stock in a transaction that occurred on Wednesday, February 28th. The shares were bought 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 of the company’s stock, valued at approximately $1,634,081.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Akbar Mohamed acquired 152,450 shares of Sunnova Energy International stock in a transaction on 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 purchase, the director now directly owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul S. Mathews sold 9,500 shares of the firm’s 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 completion of the sale, the insider now owns 14,007 shares of the company’s stock, valued at $74,377.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,580 shares of company stock worth $137,382. 4.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on NOVA shares. Truist Financial reduced their price objective on Sunnova Energy International from $16.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday. Janney Montgomery Scott upgraded shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Friday, March 22nd. Susquehanna cut their target price on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating for the company in a research report on Friday, April 5th. Evercore ISI reduced their target price on shares of Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a report on Friday. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $14.00 price target (down previously from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sunnova Energy International has an average rating of “Moderate Buy” and an average target price of $16.71.

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.