Sunnova Energy International (NYSE:NOVA) Posts Quarterly Earnings Results, Beats Estimates By $0.22 EPS

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

Sunnova Energy International Stock Up 8.3 %

Sunnova Energy International stock traded up $0.37 during trading on Friday, reaching $4.79. The stock had a trading volume of 15,120,959 shares, compared to its average volume of 9,410,099. Sunnova Energy International has a 52-week low of $3.37 and a 52-week high of $24.56. The business has a 50 day moving average price of $5.11 and a 200 day moving average price of $9.15. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.58. The stock has a market cap of $592.57 million, a PE ratio of -1.43 and a beta of 2.15.

Wall Street Analysts Forecast Growth

NOVA has been the subject of a number of recent research reports. B. Riley reduced their target price on shares of Sunnova Energy International from $21.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. KeyCorp cut Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a report on Tuesday, April 23rd. Evercore ISI reduced their price target on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating on the stock in a report on Friday. Janney Montgomery Scott raised shares of Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Friday, March 22nd. Finally, Robert W. Baird decreased their target price on shares of Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.71.

Insider Activity

In other news, insider Paul S. Mathews sold 9,500 shares of Sunnova Energy International 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 of the company’s stock, valued at approximately $74,377.17. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Paul S. Mathews sold 9,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 owns 14,007 shares in the company, valued at $74,377.17. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Akbar Mohamed acquired 152,450 shares of Sunnova Energy International stock in a transaction dated Wednesday, February 28th. The shares were bought at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the transaction, the director now directly owns 236,139 shares in the company, valued at approximately $1,634,081.88. The disclosure for this purchase can be found here. In the last three months, insiders have sold 23,580 shares of company stock worth $137,382. 4.50% of the stock is currently owned by corporate insiders.

Sunnova Energy International Company Profile

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.