Sunnova Energy International Inc. (NYSE:NOVA) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its holdings in shares of Sunnova Energy International Inc. (NYSE:NOVA) by 2.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 343,267 shares of the company’s stock after acquiring an additional 7,571 shares during the period. Wellington Management Group LLP owned 0.28% of Sunnova Energy International worth $5,235,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NOVA. Van ECK Associates Corp grew its holdings 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 purchasing an additional 866,705 shares during the last quarter. Banque Pictet & Cie SA acquired a new position in Sunnova Energy International during the third quarter worth approximately $6,906,000. Trexquant Investment LP purchased a new stake in Sunnova Energy International in the fourth quarter valued at approximately $6,930,000. Vanguard Group Inc. boosted its holdings in shares of Sunnova Energy International by 3.8% in the third quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company’s stock valued at $107,532,000 after acquiring an additional 379,032 shares during the period. Finally, Picton Mahoney Asset Management purchased a new position in shares of Sunnova Energy International during the fourth quarter worth approximately $3,002,000.

Analyst Ratings Changes

Several analysts recently commented on NOVA shares. Susquehanna reduced their price target on shares of Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating for the company in a research report on Friday, April 5th. Truist Financial lowered 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. Mizuho reduced their price objective on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Evercore ISI decreased their price objective on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, Piper Sandler lowered Sunnova Energy International from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $9.00 to $4.50 in a report on Tuesday, May 21st. Eight equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Sunnova Energy International has a consensus rating of “Moderate Buy” and an average target price of $15.73.

Sunnova Energy International Trading Down 14.3 %

Shares of NOVA stock opened at $5.58 on Friday. The stock has a market cap of $691.81 million, a P/E ratio of -1.66 and a beta of 2.19. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 3.41. Sunnova Energy International Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $24.56. The business has a fifty day simple moving average of $4.80 and a 200-day simple moving average of $7.65.

Sunnova Energy International (NYSE:NOVA) last posted its earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.22. The firm had revenue of $160.90 million during the quarter, compared to the consensus estimate of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm posted ($0.70) EPS. On average, analysts forecast that Sunnova Energy International Inc. will post -1.85 earnings per share for the current fiscal year.

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.