Clearbridge Investments LLC Acquires 261,132 Shares of Sunnova Energy International Inc. (NYSE:NOVA)

Clearbridge Investments LLC boosted its holdings in Sunnova Energy International Inc. (NYSE:NOVAGet Rating) by 43.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 859,695 shares of the company’s stock after purchasing an additional 261,132 shares during the quarter. Clearbridge Investments LLC’s holdings in Sunnova Energy International were worth $15,844,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NOVA. Summit Partners Public Asset Management LLC boosted its stake in Sunnova Energy International by 8,193.0% in the 1st quarter. Summit Partners Public Asset Management LLC now owns 1,717,822 shares of the company’s stock worth $39,613,000 after purchasing an additional 1,697,108 shares during the period. Phoenix Holdings Ltd. bought a new position in Sunnova Energy International in the 1st quarter worth approximately $25,390,000. Handelsbanken Fonder AB boosted its stake in Sunnova Energy International by 24.2% in the 1st quarter. Handelsbanken Fonder AB now owns 4,999,620 shares of the company’s stock worth $115,291,000 after purchasing an additional 973,966 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Sunnova Energy International by 130.8% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 1,500,000 shares of the company’s stock worth $27,645,000 after purchasing an additional 849,956 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Sunnova Energy International by 26.3% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,000,000 shares of the company’s stock valued at $46,120,000 after acquiring an additional 416,146 shares during the last quarter.

Sunnova Energy International Trading Up 2.5 %

NOVA stock opened at $23.05 on Thursday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 3.00. The business’s fifty day simple moving average is $21.17 and its two-hundred day simple moving average is $21.53. Sunnova Energy International Inc. has a twelve month low of $12.47 and a twelve month high of $39.24.

Sunnova Energy International (NYSE:NOVAGet Rating) last released its earnings results on Wednesday, October 26th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.26). Sunnova Energy International had a negative return on equity of 10.57% and a negative net margin of 34.38%. The business had revenue of $149.36 million during the quarter, compared to analysts’ expectations of $129.49 million. As a group, analysts predict that Sunnova Energy International Inc. will post -1.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

NOVA has been the subject of a number of research reports. Royal Bank of Canada increased their target price on Sunnova Energy International from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Tuesday. Susquehanna Bancshares initiated coverage on Sunnova Energy International in a research report on Monday, October 17th. They set a “positive” rating and a $38.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Sunnova Energy International from $54.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Guggenheim increased their target price on Sunnova Energy International to $51.00 in a research report on Tuesday, November 1st. Finally, Susquehanna began coverage on Sunnova Energy International in a research report on Monday, October 17th. They set a “positive” rating and a $38.00 target price for the company. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Sunnova Energy International currently has an average rating of “Moderate Buy” and a consensus price target of $36.06.

Sunnova Energy International Profile

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Sunnova Energy International Inc provides residential energy services 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 diagnostics services. As of December 31, 2021, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,140 megawatts serving over 195,000 customers.

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Institutional Ownership by Quarter for Sunnova Energy International (NYSE:NOVA)

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