Sunnova Energy International (NYSE:NOVA) Announces Quarterly Earnings Results

Sunnova Energy International (NYSE:NOVA) released its earnings results on Wednesday. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45), Briefing.com reports. Sunnova Energy International had a negative return on equity of 8.85% and a negative net margin of 45.76%. The business had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. During the same quarter in the previous year, the business earned ($0.53) EPS. The business’s revenue for the quarter was up 18.6% on a year-over-year basis.

Sunnova Energy International Stock Up 10.4 %

NYSE:NOVA traded up $0.56 during midday trading on Thursday, reaching $5.94. 15,249,173 shares of the stock traded hands, compared to its average volume of 7,735,323. The stock has a market capitalization of $741.69 million, a PE ratio of -1.99 and a beta of 2.21. Sunnova Energy International has a 12-month low of $3.37 and a 12-month high of $16.35. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97. The business has a 50-day moving average of $8.88 and a two-hundred day moving average of $6.86.

Wall Street Analyst Weigh In

NOVA has been the topic of a number of research analyst reports. Susquehanna upped their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a report on Friday, August 2nd. Morgan Stanley upped their target price on shares of Sunnova Energy International from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 21st. Barclays reduced their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group initiated coverage on Sunnova Energy International in a research note on Thursday, October 10th. They issued a “buy” rating and a $15.00 price objective on the stock. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.11.

Insiders Place Their Bets

In other news, insider William J. Berger sold 77,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the completion of the sale, the insider now owns 409,045 shares in the company, valued at approximately $4,626,298.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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.