Sunnova Energy International Inc. to Post Q2 2024 Earnings of ($0.50) Per Share, Northland Capmk Forecasts (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA - Free Report) - Northland Capmk issued their Q2 2024 earnings per share (EPS) estimates for Sunnova Energy International in a research report issued on Monday, May 6th. Northland Capmk analyst A. Sinha anticipates 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 - Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share for the quarter, beating analysts' consensus estimates of ($0.79) by $0.22. Sunnova Energy International had a negative return on equity of 12.10% and a negative net margin of 56.52%. The company had revenue of $160.90 million during the quarter, compared to analyst estimates of $193.78 million. During the same quarter in the previous year, the company posted ($0.70) EPS. Sunnova Energy International's revenue for the quarter was down .5% on a year-over-year basis.

A number of other research firms have also commented on NOVA. Robert W. Baird lowered their price target on shares of Sunnova Energy International from $14.00 to $12.00 and set an "outperform" rating for the company in a report on Friday, May 3rd. KeyCorp cut Sunnova Energy International from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, April 23rd. Truist Financial reduced their price target on Sunnova Energy International from $16.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, April 30th. Janney Montgomery Scott upgraded 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, Mizuho reduced their target price on Sunnova Energy International from $21.00 to $17.00 and set a "buy" rating on the stock in a research note on Friday, April 19th. Seven investment 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 stock. According to MarketBeat.com, Sunnova Energy International has an average rating of "Moderate Buy" and an average price target of $16.71.

Sunnova Energy International Trading Down 7.0 %

NOVA stock traded down $0.31 during midday trading on Wednesday, hitting $4.11. The company had a trading volume of 5,474,319 shares, compared to its average volume of 9,283,766. The stock has a market cap of $509.56 million, a price-to-earnings ratio of -1.20 and a beta of 2.15. Sunnova Energy International has a 52 week low of $3.37 and a 52 week high of $24.56. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41. The stock's 50 day moving average price is $4.96 and its 200 day moving average price is $9.03.

Hedge Funds Weigh In On Sunnova Energy International

Institutional investors have recently made changes to their positions in the business. Manchester Capital Management LLC increased its position in Sunnova Energy International by 2,959.7% in the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company's stock worth $29,000 after buying an additional 1,835 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Sunnova Energy International during the 1st quarter worth approximately $25,000. Allspring Global Investments Holdings LLC lifted its holdings in Sunnova Energy International by 158.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company's stock valued at $74,000 after purchasing an additional 4,310 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Sunnova Energy International in the fourth quarter worth approximately $157,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Sunnova Energy International in the fourth quarter worth $161,000.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $5.31, for a total transaction of $50,445.00. Following the transaction, the insider now owns 14,007 shares in the company, valued at approximately $74,377.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jack O. Lynch III sold 12,994 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $6.21, for a total transaction of $80,692.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul S. Mathews sold 9,500 shares of the firm's 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 disclosure for this sale can be found here. Insiders sold 23,580 shares of company stock worth $137,382 over the last quarter. 4.50% of the stock is currently owned by 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.