Sunnova Energy International Inc. (NYSE:NOVA) Expected to Post Quarterly Sales of $42.82 Million

Wall Street analysts expect Sunnova Energy International Inc. (NYSE:NOVA) to report $42.82 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Sunnova Energy International’s earnings, with the lowest sales estimate coming in at $37.50 million and the highest estimate coming in at $47.36 million. Sunnova Energy International posted sales of $29.83 million in the same quarter last year, which would indicate a positive year over year growth rate of 43.5%. The company is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, April 28th.

According to Zacks, analysts expect that Sunnova Energy International will report full-year sales of $228.97 million for the current year, with estimates ranging from $206.80 million to $250.66 million. For the next fiscal year, analysts anticipate that the business will post sales of $332.14 million, with estimates ranging from $285.80 million to $373.24 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Sunnova Energy International.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Wednesday, February 24th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.59). The business had revenue of $38.02 million for the quarter, compared to the consensus estimate of $42.41 million. Sunnova Energy International had a negative return on equity of 18.35% and a negative net margin of 113.82%.

A number of equities analysts have issued reports on NOVA shares. Raymond James cut their price target on Sunnova Energy International from $55.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, April 14th. Evercore ISI started coverage on Sunnova Energy International in a report on Monday. They set an “outperform” rating and a $52.00 price target on the stock. Piper Sandler increased their price target on Sunnova Energy International from $35.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, January 19th. Credit Suisse Group upgraded Sunnova Energy International from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $48.00 to $56.00 in a report on Thursday, March 4th. Finally, JMP Securities increased their target price on Sunnova Energy International from $53.00 to $66.00 in a report on Monday, January 4th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $52.25.

In other Sunnova Energy International news, insider Kris W. Hillstrand sold 88,320 shares of the firm’s stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $49.28, for a total transaction of $4,352,409.60. Following the transaction, the insider now directly owns 61,142 shares in the company, valued at approximately $3,013,077.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Walter A. Baker sold 4,395 shares of the firm’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $41.78, for a total value of $183,623.10. Over the last 90 days, insiders have sold 162,923 shares of company stock worth $7,728,390.

Institutional investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Sunnova Energy International during the 4th quarter valued at $47,000. US Bancorp DE purchased a new stake in shares of Sunnova Energy International during the 4th quarter valued at $59,000. Exchange Traded Concepts LLC increased its position in shares of Sunnova Energy International by 292.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,672 shares of the company’s stock valued at $68,000 after purchasing an additional 1,246 shares during the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of Sunnova Energy International during the 4th quarter valued at $81,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Sunnova Energy International during the 1st quarter valued at $113,000. 91.86% of the stock is owned by hedge funds and other institutional investors.

Shares of Sunnova Energy International stock traded up $1.05 on Wednesday, reaching $40.96. 1,346,855 shares of the company’s stock were exchanged, compared to its average volume of 2,452,212. The company has a market capitalization of $4.44 billion, a P/E ratio of -19.60 and a beta of 2.19. Sunnova Energy International has a 52 week low of $11.00 and a 52 week high of $57.70. The firm’s 50-day moving average is $37.56 and its two-hundred day moving average is $42.67. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.67 and a current ratio of 1.67.

About Sunnova Energy International

Sunnova Energy International Inc, together with its subsidiaries, provides residential solar and energy storage services in the United States. The company offers operations and maintenance, monitoring, repairs and replacements, equipment upgrades, on-site power optimization, and diagnostics services.

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Earnings History and Estimates for Sunnova Energy International (NYSE:NOVA)

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