Equities Analysts Set Expectations for Sunnova Energy International Inc.’s Q2 2024 Earnings (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) – Northland Capmk issued their Q2 2024 EPS estimates for Sunnova Energy International in a research report issued on Monday, May 6th. Northland Capmk analyst A. Sinha anticipates that the company will earn ($0.50) per share for the quarter. The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.39) per share. Northland Capmk also issued estimates for Sunnova Energy International’s Q3 2024 earnings at ($0.34) EPS, Q4 2024 earnings at ($0.24) EPS and FY2024 earnings at ($1.65) EPS.

NOVA has been the subject of several other research reports. B. Riley reduced their target price on shares of Sunnova Energy International from $21.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. 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 note on Monday, March 4th. BMO Capital Markets dropped their target price on Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. Scotiabank reduced their price target on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating for the company in a research report on Monday, April 29th. Finally, Mizuho decreased their price objective on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Seven equities research 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.71.

Sunnova Energy International Trading Up 5.4 %

Shares of NOVA opened at $4.33 on Wednesday. Sunnova Energy International has a fifty-two week low of $3.37 and a fifty-two week high of $24.56. The business has a 50-day moving average of $4.91 and a 200 day moving average of $9.00. The firm has a market cap of $536.83 million, a P/E ratio of -1.26 and a beta of 2.15. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.22. 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 return on equity of 12.10% and a negative net margin of 56.52%. Sunnova Energy International’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.70) earnings per share.

Institutional Investors Weigh In On Sunnova Energy International

Several institutional investors have recently bought and sold shares of NOVA. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Sunnova Energy International by 2.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock worth $663,000 after acquiring an additional 1,094 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Sunnova Energy International by 3.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,397 shares of the company’s stock worth $465,000 after purchasing an additional 1,528 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of 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 purchasing an additional 1,554 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Sunnova Energy International by 14.0% during the 3rd quarter. Principal Financial Group Inc. now owns 12,893 shares of the company’s stock valued at $135,000 after purchasing an additional 1,584 shares during the period. Finally, Manchester Capital Management LLC raised its position in Sunnova Energy International by 2,959.7% during the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock valued at $29,000 after purchasing an additional 1,835 shares during the last quarter.

Insider Transactions at Sunnova Energy International

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