Q2 2024 EPS Estimates for Sunnova Energy International Inc. Reduced by Analyst (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) – Investment analysts at Roth Capital lowered their Q2 2024 earnings estimates for shares of Sunnova Energy International in a research report issued on Thursday, May 2nd. Roth Capital analyst P. Shen now anticipates that the company will post earnings per share of ($0.43) for the quarter, down from their previous estimate of ($0.41). The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.39) per share. Roth Capital also issued estimates for Sunnova Energy International’s Q3 2024 earnings at ($0.06) EPS, FY2024 earnings at ($1.01) EPS, Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.70) EPS.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.22. 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 return on equity of 12.35% and a negative net margin of 56.52%. The business’s revenue was down .5% on a year-over-year basis. During the same period last year, the firm posted ($0.70) earnings per share.

Other analysts have also recently issued research reports about the stock. KeyCorp cut shares of Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 23rd. Robert W. Baird decreased their target price on Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday. Evercore ISI dropped their price target on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley restated an “equal weight” rating and issued a $14.00 price target (down from $24.00) on shares of Sunnova Energy International in a research note on Monday, March 4th. Finally, B. Riley lowered their price objective on Sunnova Energy International from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.71.

Sunnova Energy International Trading Up 8.4 %

Shares of Sunnova Energy International stock opened at $4.79 on Monday. Sunnova Energy International has a 1 year low of $3.37 and a 1 year high of $24.56. The company has a market capitalization of $593.19 million, a price-to-earnings ratio of -1.42 and a beta of 2.15. The business has a fifty day simple moving average of $5.05 and a two-hundred day simple moving average of $9.09. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.85 and a quick ratio of 0.85.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake 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 during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Sunnova Energy International by 3.6% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 44,397 shares of the company’s stock worth $465,000 after buying an additional 1,528 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Sunnova Energy International by 8.0% in 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 stake in shares of Sunnova Energy International by 14.0% in the third quarter. Principal Financial Group Inc. now owns 12,893 shares of the company’s stock valued at $135,000 after buying an additional 1,584 shares during the period. Finally, Manchester Capital Management LLC raised its position in shares of 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 worth $29,000 after acquiring an additional 1,835 shares during the last quarter.

Insider Transactions at Sunnova Energy International

In related news, Director Akbar Mohamed purchased 152,450 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average cost of $6.92 per share, with a total value of $1,054,954.00. Following the acquisition, the director now owns 236,139 shares of the company’s stock, valued at approximately $1,634,081.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $5.31, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Akbar Mohamed purchased 152,450 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the purchase, the director now directly 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. Over the last 90 days, insiders sold 23,580 shares of company stock valued at $137,382. 4.50% of the stock is currently owned by insiders.

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.