Van ECK Associates Corp Purchases 866,705 Shares of Sunnova Energy International Inc. (NYSE:NOVA)

Van ECK Associates Corp boosted its holdings in Sunnova Energy International Inc. (NYSE:NOVA - Free Report) by 124.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,563,320 shares of the company's stock after acquiring an additional 866,705 shares during the period. Van ECK Associates Corp owned 1.28% of Sunnova Energy International worth $23,841,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Electron Capital Partners LLC increased its position in shares of Sunnova Energy International by 42.9% during the third quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company's stock valued at $55,582,000 after acquiring an additional 1,593,098 shares during the last quarter. Banque Pictet & Cie SA purchased a new stake in Sunnova Energy International in the third quarter valued at approximately $6,906,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Sunnova Energy International by 57.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,324,957 shares of the company's stock worth $13,872,000 after purchasing an additional 484,150 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Sunnova Energy International by 3.8% during the third quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company's stock worth $107,532,000 after buying an additional 379,032 shares during the period. Finally, Barclays PLC grew its stake in shares of Sunnova Energy International by 183.8% in the third quarter. Barclays PLC now owns 359,398 shares of the company's stock valued at $3,763,000 after buying an additional 232,740 shares in the last quarter.

Insider Buying and Selling

In related news, insider Paul S. Mathews sold 9,500 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $5.31, for a total value of $50,445.00. Following the sale, the insider now directly owns 14,007 shares in the company, valued at approximately $74,377.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Akbar Mohamed acquired 152,450 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average price of $6.92 per share, for a total transaction of $1,054,954.00. Following the transaction, the director now owns 236,139 shares in the company, valued at approximately $1,634,081.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $50,445.00. Following the sale, 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 have sold a total of 23,580 shares of company stock worth $137,382 in the last quarter. Company insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

NOVA has been the topic of several research reports. Wells Fargo & Company reissued an "equal weight" rating and set a $6.00 target price (down previously from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. B. Riley lowered their price objective on shares of Sunnova Energy International from $21.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, April 22nd. Mizuho reduced their target price on shares of Sunnova Energy International from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Friday, April 19th. Northland Securities reaffirmed a "market perform" rating and set a $9.00 price objective (down previously from $12.00) on shares of Sunnova Energy International in a research report on Friday, February 23rd. Finally, KeyCorp cut Sunnova Energy International from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, April 23rd. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Sunnova Energy International currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.86.

Sunnova Energy International Stock Performance

Shares of NOVA stock traded down $0.68 during mid-day trading on Wednesday, hitting $3.53. The stock had a trading volume of 25,772,277 shares, compared to its average volume of 9,227,605. Sunnova Energy International Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $24.56. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.85 and a quick ratio of 0.85. The company's 50-day simple moving average is $5.19 and its 200-day simple moving average is $9.19. The firm has a market cap of $437.16 million, a PE ratio of -1.01 and a beta of 2.08.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.04. Sunnova Energy International had a negative return on equity of 13.26% and a negative net margin of 58.00%. The firm had revenue of $194.18 million during the quarter, compared to analysts' expectations of $226.09 million. Sell-side analysts anticipate that Sunnova Energy International Inc. will post -2.37 earnings per share for the current year.

Sunnova Energy International 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.