Picton Mahoney Asset Management Purchases Shares of 196,794 Sunnova Energy International Inc. (NYSE:NOVA)

Picton Mahoney Asset Management purchased a new stake in Sunnova Energy International Inc. (NYSE:NOVA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 196,794 shares of the company's stock, valued at approximately $3,002,000. Picton Mahoney Asset Management owned 0.16% of Sunnova Energy International at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Sunnova Energy International by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company's stock worth $107,532,000 after purchasing an additional 379,032 shares in the last quarter. Electron Capital Partners LLC increased its stake in shares of Sunnova Energy International by 42.9% in the 3rd quarter. Electron Capital Partners LLC now owns 5,308,684 shares of the company's stock valued at $55,582,000 after buying an additional 1,593,098 shares during the period. Van ECK Associates Corp raised its position in shares of Sunnova Energy International by 124.4% during the fourth quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company's stock worth $23,841,000 after acquiring an additional 866,705 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of 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 valued at $13,872,000 after acquiring an additional 484,150 shares during the period. Finally, Guinness Asset Management LTD boosted its holdings in Sunnova Energy International by 5.9% in the third quarter. Guinness Asset Management LTD now owns 1,240,355 shares of the company's stock valued at $12,981,000 after acquiring an additional 69,539 shares during the last quarter.

Sunnova Energy International Stock Down 7.1 %

Shares of Sunnova Energy International stock traded down $0.31 on Wednesday, reaching $4.11. 5,477,224 shares of the company were exchanged, compared to its average volume of 9,283,766. Sunnova Energy International Inc. has a one year low of $3.37 and a one year high of $24.56. The company has a market capitalization of $508.94 million, a price-to-earnings ratio of -1.20 and a beta of 2.15. 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 company has a 50-day moving average of $4.96 and a 200 day moving average of $9.03.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $193.78 million. During the same quarter in the prior year, the business posted ($0.70) EPS. The business's revenue was down .5% compared to the same quarter last year. On average, equities research analysts forecast that Sunnova Energy International Inc. will post -2.39 earnings per share for the current year.

Insider Activity at Sunnova Energy International

In related news, insider Paul S. Mathews sold 9,500 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $5.31, for a total value of $50,445.00. Following the sale, 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 SEC, which can be accessed through this hyperlink. In other Sunnova Energy International news, insider Paul S. Mathews sold 9,500 shares of the company's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $5.31, for a total value of $50,445.00. Following the transaction, the insider now directly owns 14,007 shares of the company's stock, valued at approximately $74,377.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jack O. Lynch III sold 12,994 shares of the company's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $6.21, for a total value of $80,692.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,580 shares of company stock worth $137,382. Company insiders own 4.50% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on NOVA shares. Mizuho dropped their price objective on Sunnova Energy International from $21.00 to $17.00 and set a "buy" rating for the company in a report on Friday, April 19th. Wells Fargo & Company reissued an "equal weight" rating and set a $6.00 price objective (down from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. Truist Financial dropped their price objective on Sunnova Energy International from $16.00 to $9.00 and set a "buy" rating for the company in a report on Tuesday, April 30th. BMO Capital Markets dropped their price objective on Sunnova Energy International from $10.00 to $6.00 and set a "market perform" rating for the company in a report on Friday, May 3rd. Finally, Susquehanna dropped their price objective on Sunnova Energy International from $20.00 to $12.00 and set a "positive" rating for the company in a report on Friday, April 5th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $16.71.

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.

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