SG Americas Securities LLC Reduces Stock Position in Sunnova Energy International Inc. (NYSE:NOVA)

SG Americas Securities LLC lowered its stake in Sunnova Energy International Inc. (NYSE:NOVA) by 56.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,872 shares of the company’s stock after selling 30,911 shares during the quarter. SG Americas Securities LLC’s holdings in Sunnova Energy International were worth $233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOVA. Peoples Bank KS purchased a new position in shares of Sunnova Energy International during the 2nd quarter worth $56,000. Caxton Associates LP purchased a new position in shares of Sunnova Energy International during the 1st quarter worth $62,000. First Trust Direct Indexing L.P. purchased a new position in shares of Sunnova Energy International during the 1st quarter worth $66,000. Presidio Capital Management LLC purchased a new position in shares of Sunnova Energy International during the 2nd quarter worth $67,000. Finally, nVerses Capital LLC boosted its stake in shares of Sunnova Energy International by 237.8% during the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after acquiring an additional 8,800 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NOVA shares. Scotiabank lifted their price target on shares of Sunnova Energy International from $10.00 to $14.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 6th. Truist Financial lifted their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Piper Sandler lifted their target price on shares of Sunnova Energy International from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Barclays lowered their target price on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their target price on shares of Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.22.

Insider Activity

In other news, insider William J. Berger sold 77,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the transaction, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.50% of the company’s stock.

Sunnova Energy International Stock Performance

Sunnova Energy International stock opened at $5.23 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 3.11. Sunnova Energy International Inc. has a twelve month low of $3.37 and a twelve month high of $16.35. The company has a market cap of $647.81 million, a PE ratio of -1.55 and a beta of 2.21. The company’s 50-day moving average price is $9.38 and its 200-day moving average price is $6.85.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.27. The company had revenue of $219.60 million for the quarter, compared to analyst estimates of $220.38 million. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 8.85%. The firm’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.74) EPS. On average, equities research analysts forecast that Sunnova Energy International Inc. will post -1.86 EPS for the current fiscal year.

Sunnova Energy International Company 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.