Clearbridge Investments LLC Buys 261,132 Shares of Sunnova Energy International Inc. (NYSE:NOVA)

Clearbridge Investments LLC increased its holdings in Sunnova Energy International Inc. (NYSE:NOVAGet Rating) by 43.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 859,695 shares of the company’s stock after acquiring an additional 261,132 shares during the quarter. Clearbridge Investments LLC owned about 0.75% of Sunnova Energy International worth $15,844,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Captrust Financial Advisors lifted its position in Sunnova Energy International by 236.4% during the first quarter. Captrust Financial Advisors now owns 1,487 shares of the company’s stock valued at $34,000 after buying an additional 1,045 shares during the period. FinTrust Capital Advisors LLC purchased a new position in Sunnova Energy International during the second quarter valued at $38,000. US Bancorp DE lifted its position in Sunnova Energy International by 168.8% during the first quarter. US Bancorp DE now owns 2,809 shares of the company’s stock valued at $65,000 after buying an additional 1,764 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Sunnova Energy International by 198.1% during the first quarter. Steward Partners Investment Advisory LLC now owns 3,073 shares of the company’s stock valued at $71,000 after buying an additional 2,042 shares during the period. Finally, Sierra Capital LLC purchased a new position in Sunnova Energy International during the second quarter valued at $58,000.

Wall Street Analyst Weigh In

NOVA has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on Sunnova Energy International from $54.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Guggenheim raised their price target on Sunnova Energy International to $51.00 in a report on Tuesday, November 1st. Truist Financial reduced their price target on Sunnova Energy International from $32.00 to $31.00 and set a “buy” rating for the company in a report on Friday, October 28th. Capital One Financial restated an “overweight” rating on shares of Sunnova Energy International in a report on Wednesday, November 16th. Finally, Royal Bank of Canada raised their price target on Sunnova Energy International from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sunnova Energy International presently has an average rating of “Moderate Buy” and an average target price of $36.06.

Sunnova Energy International Price Performance

Sunnova Energy International stock opened at $23.05 on Thursday. The business has a 50-day simple moving average of $21.17 and a two-hundred day simple moving average of $21.53. Sunnova Energy International Inc. has a 52-week low of $12.47 and a 52-week high of $39.24. The company has a debt-to-equity ratio of 3.00, a quick ratio of 2.05 and a current ratio of 2.05.

Sunnova Energy International (NYSE:NOVAGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.26). The firm had revenue of $149.36 million for the quarter, compared to the consensus estimate of $129.49 million. Sunnova Energy International had a negative net margin of 34.38% and a negative return on equity of 10.57%. On average, sell-side analysts predict that Sunnova Energy International Inc. will post -1.56 earnings per share for the current year.

About Sunnova Energy International

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Sunnova Energy International Inc provides residential energy services 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 diagnostics services. As of December 31, 2021, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,140 megawatts serving over 195,000 customers.

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Institutional Ownership by Quarter for Sunnova Energy International (NYSE:NOVA)

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