Dark Forest Capital Management LP Makes New Investment in Sunnova Energy International Inc. (NYSE:NOVA)

Dark Forest Capital Management LP purchased a new position in shares of Sunnova Energy International Inc. (NYSE:NOVA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 79,214 shares of the company’s stock, valued at approximately $272,000. Dark Forest Capital Management LP owned approximately 0.06% of Sunnova Energy International at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Peapack Gladstone Financial Corp raised its position in shares of Sunnova Energy International by 11.0% in the third quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock valued at $314,000 after purchasing an additional 3,200 shares during the period. PFG Investments LLC raised its position in shares of Sunnova Energy International by 37.0% in the fourth quarter. PFG Investments LLC now owns 18,345 shares of the company’s stock valued at $63,000 after purchasing an additional 4,955 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Sunnova Energy International by 5.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 122,796 shares of the company’s stock valued at $421,000 after purchasing an additional 6,757 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Sunnova Energy International by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 908,997 shares of the company’s stock valued at $3,118,000 after purchasing an additional 7,564 shares during the period. Finally, Cibc World Markets Corp bought a new position in shares of Sunnova Energy International in the fourth quarter valued at about $35,000.

Sunnova Energy International Trading Up 4.3 %

NOVA opened at $0.22 on Tuesday. The company’s 50 day moving average is $0.55 and its 200-day moving average is $2.77. Sunnova Energy International Inc. has a 1-year low of $0.15 and a 1-year high of $13.00. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The company has a market cap of $28.02 million, a P/E ratio of -0.07 and a beta of 2.89.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Monday, March 3rd. The company reported ($2.96) EPS for the quarter, missing the consensus estimate of ($0.79) by ($2.17). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The business had revenue of $224.13 million for the quarter, compared to analyst estimates of $235.85 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. Equities research analysts predict that Sunnova Energy International Inc. will post -2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NOVA. UBS Group lowered shares of Sunnova Energy International from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $5.00 to $0.65 in a research report on Tuesday, March 4th. Piper Sandler lowered their price target on shares of Sunnova Energy International from $4.50 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Janney Montgomery Scott lowered shares of Sunnova Energy International from a “buy” rating to a “neutral” rating and set a $1.00 price target on the stock. in a research report on Tuesday, March 4th. Baird R W lowered shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. lowered shares of Sunnova Energy International from an “overweight” rating to a “neutral” rating in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.93.

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.