Sunnova Energy International Inc. (NYSE:NOVA) Expected to Earn Q2 2024 Earnings of ($0.50) Per Share

Sunnova Energy International Inc. (NYSE:NOVA) – Stock analysts at Northland Capmk issued their Q2 2024 EPS estimates for shares of Sunnova Energy International in a research report issued on Monday, May 6th. Northland Capmk analyst A. Sinha expects that the company will post earnings of ($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.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22. The business had revenue of $160.90 million during the quarter, compared to the consensus estimate of $193.78 million. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.70) earnings per share.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird cut their price objective on Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Wells Fargo & Company restated an “equal weight” rating and issued a $6.00 price objective (down previously from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. Janney Montgomery Scott upgraded shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Friday, March 22nd. B. Riley decreased their target price on Sunnova Energy International from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Susquehanna lowered their price target on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating on the stock in a report on Friday, April 5th. 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. According to MarketBeat.com, Sunnova Energy International has a consensus rating of “Moderate Buy” and a consensus target price of $16.71.

Sunnova Energy International Trading Down 7.1 %

Shares of NYSE NOVA opened at $4.11 on Wednesday. The company’s fifty day moving average is $4.96 and its 200-day moving average is $9.03. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 3.41. The stock has a market cap of $508.94 million, a price-to-earnings ratio of -1.20 and a beta of 2.15. Sunnova Energy International has a twelve month low of $3.37 and a twelve month high of $24.56.

Insider Transactions at Sunnova Energy International

In other news, insider Paul S. Mathews sold 9,500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were 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 directly owns 14,007 shares in the company, valued at $74,377.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jack O. Lynch III sold 12,994 shares of Sunnova Energy International stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $6.21, for a total value of $80,692.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul S. Mathews sold 9,500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $5.31, for a total transaction of $50,445.00. Following the completion of the sale, the insider now directly owns 14,007 shares in the company, valued at $74,377.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,580 shares of company stock valued at $137,382. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Sunnova Energy International by 2.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock valued at $663,000 after acquiring an additional 1,094 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Sunnova Energy International by 3.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,397 shares of the company’s stock valued at $465,000 after purchasing an additional 1,528 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Sunnova Energy International by 8.0% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock valued at $325,000 after buying an additional 1,554 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Sunnova Energy International by 14.0% in the 3rd quarter. Principal Financial Group Inc. now owns 12,893 shares of the company’s stock worth $135,000 after acquiring an additional 1,584 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in Sunnova Energy International by 2,959.7% during the fourth 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.

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.