Sunnova Energy International Inc. (NYSE:NOVA) Stock Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC grew its position in Sunnova Energy International Inc. (NYSE:NOVA) by 3.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,562,684 shares of the company’s stock after acquiring an additional 88,945 shares during the quarter. Geode Capital Management LLC owned approximately 2.05% of Sunnova Energy International worth $24,965,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NOVA. Sylebra Capital LLC boosted its stake in Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after acquiring an additional 6,926,399 shares during the period. Erste Asset Management GmbH acquired a new position in Sunnova Energy International during the 3rd quarter valued at approximately $76,550,000. Handelsbanken Fonder AB boosted its position in Sunnova Energy International by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after purchasing an additional 611,452 shares during the period. Electron Capital Partners LLC grew its stake in Sunnova Energy International by 24.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock worth $16,768,000 after buying an additional 591,514 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Sunnova Energy International by 17.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company’s stock worth $8,780,000 after buying an additional 134,065 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NOVA shares. Wolfe Research lowered shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 4th. Jefferies Financial Group assumed coverage on shares of Sunnova Energy International in a research report on Thursday, October 10th. They issued a “buy” rating and a $15.00 target price for the company. Guggenheim cut Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Barclays decreased their price objective on Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Robert W. Baird cut their target price on Sunnova Energy International from $12.00 to $9.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Sunnova Energy International has an average rating of “Hold” and an average target price of $10.24.

Insider Activity

In related news, Director Akbar Mohamed purchased 50,000 shares of Sunnova Energy International stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of $3.64 per share, with a total value of $182,000.00. Following the completion of the transaction, the director now directly owns 352,654 shares of the company’s stock, valued at $1,283,660.56. This trade represents a 16.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Eric Michael Williams acquired 13,800 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the completion of the transaction, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at $49,680. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought 118,517 shares of company stock worth $439,605 over the last 90 days. 4.50% of the stock is owned by company insiders.

Sunnova Energy International Price Performance

Shares of NYSE:NOVA opened at $3.49 on Friday. The stock has a fifty day moving average of $4.51 and a 200-day moving average of $6.83. The company has a market capitalization of $436.09 million, a PE ratio of -1.04 and a beta of 2.22. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. Sunnova Energy International Inc. has a one year low of $2.99 and a one year high of $16.25.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. During the same period in the prior year, the business posted ($0.53) EPS. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, equities analysts anticipate that Sunnova Energy International Inc. will post -2.44 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.