Handelsbanken Fonder AB Purchases 611,452 Shares of Sunnova Energy International Inc. (NYSE:NOVA)

Handelsbanken Fonder AB lifted its position in shares of Sunnova Energy International Inc. (NYSE:NOVA) by 9.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,299,445 shares of the company’s stock after buying an additional 611,452 shares during the period. Handelsbanken Fonder AB owned about 5.89% of Sunnova Energy International worth $71,097,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NOVA. First Affirmative Financial Network raised its stake in shares of Sunnova Energy International by 12.9% during the second quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock worth $83,000 after acquiring an additional 1,691 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Sunnova Energy International by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock worth $315,000 after purchasing an additional 3,559 shares during the period. State Board of Administration of Florida Retirement System raised its position in Sunnova Energy International by 14.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 33,033 shares of the company’s stock worth $202,000 after purchasing an additional 4,200 shares during the period. Sei Investments Co. boosted its position in Sunnova Energy International by 9.8% during the second quarter. Sei Investments Co. now owns 68,846 shares of the company’s stock valued at $384,000 after buying an additional 6,117 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in Sunnova Energy International by 129.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock valued at $72,000 after buying an additional 6,661 shares during the period.

Insider Activity

In related news, insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the completion of the transaction, the insider now owns 409,045 shares of the company’s stock, valued at $4,626,298.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Sunnova Energy International from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 21st. Wells Fargo & Company boosted their price objective on Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a research 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 report on Friday, July 26th. Robert W. Baird upped their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada increased their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.80.

Sunnova Energy International Stock Down 5.0 %

NOVA traded down $0.39 during trading on Friday, reaching $7.44. The stock had a trading volume of 10,334,107 shares, compared to its average volume of 7,714,249. 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 capitalization of $922.43 million, a price-to-earnings ratio of -2.21 and a beta of 2.21. The stock’s 50 day moving average is $9.61 and its two-hundred day moving average is $6.76. Sunnova Energy International Inc. has a one year low of $3.37 and a one year high of $16.35.

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