Tidal Investments LLC Sells 70,461 Shares of Sunnova Energy International Inc. (NYSE:NOVA)

Tidal Investments LLC trimmed its holdings in Sunnova Energy International Inc. (NYSE:NOVA) by 39.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,087 shares of the company’s stock after selling 70,461 shares during the period. Tidal Investments LLC owned 0.09% of Sunnova Energy International worth $1,063,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NOVA. Erste Asset Management GmbH acquired a new stake in shares of Sunnova Energy International in the 3rd quarter valued at $76,550,000. Sylebra Capital LLC raised its holdings in Sunnova Energy International by 125.6% during the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after buying an additional 6,926,399 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Sunnova Energy International by 56.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock worth $78,915,000 after buying an additional 5,118,552 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after acquiring an additional 611,452 shares in the last quarter. Finally, Electron Capital Partners LLC increased its holdings in shares of Sunnova Energy International by 24.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock valued at $16,768,000 after acquiring an additional 591,514 shares during the last quarter.

Analysts Set New Price Targets

NOVA has been the subject of several analyst reports. The Goldman Sachs Group reduced their target price on Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday. Jefferies Financial Group started coverage on shares of Sunnova Energy International in a research note on Thursday, October 10th. They issued a “buy” rating and a $15.00 price objective for the company. Barclays lowered 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 note on Wednesday, October 16th. Citigroup cut their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada downgraded Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.24.

Sunnova Energy International Trading Down 6.9 %

Shares of Sunnova Energy International stock opened at $3.37 on Friday. Sunnova Energy International Inc. has a 52-week low of $2.99 and a 52-week high of $16.35. The firm has a market capitalization of $421.08 million, a PE ratio of -1.01 and a beta of 2.22. 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 company’s fifty day moving average price is $4.81 and its two-hundred day moving average price is $6.90.

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

Insider Activity

In other news, CFO Eric Michael Williams purchased 13,800 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $3.60 per share, with a total value of $49,680.00. Following the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Akbar Mohamed acquired 54,717 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of $3.80 per share, for a total transaction of $207,924.60. Following the completion of the purchase, the director now directly owns 302,654 shares of the company’s stock, valued at approximately $1,150,085.20. The trade was a 22.07 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 118,517 shares of company stock worth $439,605. Company insiders own 4.50% of the company’s stock.

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.