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

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

Sunnova Energy International Trading Up 8.4 %

Shares of NOVA traded up $0.37 during mid-day trading on Friday, reaching $4.79. 15,122,585 shares of the company were exchanged, compared to its average volume of 9,639,226. The business has a 50 day simple moving average of $5.05 and a two-hundred day simple moving average of $9.11. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $593.19 million, a PE ratio of -1.42 and a beta of 2.15. Sunnova Energy International has a 52 week low of $3.37 and a 52 week high of $24.56.

Analysts Set New Price Targets

NOVA has been the subject of several research analyst reports. Evercore ISI decreased their price target 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. Mizuho lowered their target price on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Wells Fargo & Company reissued an “equal weight” rating and issued a $6.00 price objective (down previously from $11.00) on shares of Sunnova Energy International in a research report on Friday, April 19th. Scotiabank dropped their price target on Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 29th. Finally, Truist Financial decreased their price objective on Sunnova Energy International from $16.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday. Seven 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.71.

Insider Activity at Sunnova Energy International

In other news, Director Akbar Mohamed purchased 152,450 shares of the stock in a transaction on Wednesday, February 28th. The stock was purchased at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the acquisition, the director now owns 236,139 shares in the company, valued at $1,634,081.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Paul S. Mathews sold 9,500 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total transaction of $50,445.00. Following the sale, the insider now owns 14,007 shares in the company, valued at approximately $74,377.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Akbar Mohamed bought 152,450 shares of the stock in a transaction on Wednesday, February 28th. The stock was acquired at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the completion of the acquisition, the director now owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The disclosure for this purchase can be found here. Insiders have sold 23,580 shares of company stock worth $137,382 over the last ninety days. 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.