Principal Financial Group Inc. Sells 2,524 Shares of Sunnova Energy International Inc. (NYSE:NOVA)

Principal Financial Group Inc. reduced its position in shares of Sunnova Energy International Inc. (NYSE:NOVA) by 19.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,649 shares of the company’s stock after selling 2,524 shares during the quarter. Principal Financial Group Inc.’s holdings in Sunnova Energy International were worth $59,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Sunnova Energy International by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 842,130 shares of the company’s stock valued at $12,842,000 after purchasing an additional 61,953 shares during the period. Quest Partners LLC bought a new stake in Sunnova Energy International in the fourth quarter valued at approximately $199,000. Vanguard Group Inc. lifted its position in shares of Sunnova Energy International by 0.8% in the first quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock valued at $64,782,000 after buying an additional 81,653 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Sunnova Energy International by 87,558.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 105,190 shares of the company’s stock worth $587,000 after acquiring an additional 105,070 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Sunnova Energy International by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 343,267 shares of the company’s stock worth $5,235,000 after acquiring an additional 7,571 shares during the last quarter.

Sunnova Energy International Stock Performance

Shares of Sunnova Energy International stock opened at $11.62 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11. The company has a market cap of $1.44 billion, a PE ratio of -3.45 and a beta of 2.22. The company has a 50 day moving average of $8.81 and a 200-day moving average of $6.33. Sunnova Energy International Inc. has a 1-year low of $3.37 and a 1-year high of $16.35.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.27. Sunnova Energy International had a negative return on equity of 8.85% and a negative net margin of 45.76%. The firm had revenue of $219.60 million for the quarter, compared to the consensus estimate of $220.38 million. During the same quarter last year, the business posted ($0.74) EPS. The company’s revenue was up 32.0% compared to the same quarter last year. As a group, equities research analysts forecast that Sunnova Energy International Inc. will post -1.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on NOVA. Wells Fargo & Company raised their price target on Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th. Guggenheim raised their target price on shares of Sunnova Energy International from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Scotiabank upped their price target on shares of Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 6th. Truist Financial increased their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group boosted their price objective on Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.26.

Insider Activity at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the sale, the insider now directly owns 409,045 shares in the company, valued at $4,626,298.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.50% of the stock is currently owned by insiders.

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.