Q2 2024 Earnings Estimate for Sunnova Energy International Inc. (NYSE:NOVA) Issued By Roth Capital

Sunnova Energy International Inc. (NYSE:NOVA) – Equities research analysts at Roth Capital reduced their Q2 2024 earnings per share (EPS) estimates for shares of Sunnova Energy International in a report issued on Thursday, May 2nd. Roth Capital analyst P. Shen now forecasts that the company will earn ($0.43) per share for the quarter, down from their prior forecast of ($0.41). The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.39) per share. Roth Capital also issued estimates for Sunnova Energy International’s Q3 2024 earnings at ($0.06) EPS, FY2024 earnings at ($1.01) EPS, Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.70) EPS.

Several other research analysts have also recently issued reports on the company. The Goldman Sachs Group decreased their price target on Sunnova Energy International from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Scotiabank lowered their price objective on shares of Sunnova Energy International from $20.00 to $10.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 29th. Janney Montgomery Scott upgraded Sunnova Energy International from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Friday, March 22nd. Susquehanna dropped their price objective on Sunnova Energy International from $20.00 to $12.00 and set a “positive” rating on the stock in a research note on Friday, April 5th. Finally, BMO Capital Markets decreased their target price on Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating for the company in a research note on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.71.

Sunnova Energy International Trading Down 5.5 %

Shares of NOVA opened at $4.42 on Monday. The stock has a 50-day moving average price of $5.01 and a 200 day moving average price of $9.06. Sunnova Energy International has a one year low of $3.37 and a one year high of $24.56. The company has a market capitalization of $547.37 million, a P/E ratio of -1.31 and a beta of 2.15. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.22. The firm had revenue of $160.90 million for the quarter, compared to the consensus estimate of $193.78 million. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.70) EPS.

Institutional Trading of Sunnova Energy International

A number of institutional investors have recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Sunnova Energy International in the 1st quarter worth about $25,000. Manchester Capital Management LLC increased its holdings in Sunnova Energy International by 2,959.7% in the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after buying an additional 1,835 shares during the last quarter. First Trust Direct Indexing L.P. bought a new position in Sunnova Energy International during the first quarter valued at approximately $66,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Sunnova Energy International by 129.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock valued at $72,000 after acquiring an additional 6,661 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Sunnova Energy International by 158.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,036 shares of the company’s stock valued at $74,000 after acquiring an additional 4,310 shares in the last quarter.

Insider Transactions at Sunnova Energy International

In other Sunnova Energy International news, Director Akbar Mohamed bought 152,450 shares of the stock in a transaction on Wednesday, February 28th. The shares were bought at an average price of $6.92 per share, with a total value of $1,054,954.00. Following the purchase, the director now directly owns 236,139 shares in the company, valued at approximately $1,634,081.88. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Akbar Mohamed purchased 152,450 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was acquired at an average cost of $6.92 per share, for a total transaction of $1,054,954.00. Following the completion of the acquisition, the director now owns 236,139 shares in the company, valued at approximately $1,634,081.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jack O. Lynch III sold 12,994 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $6.21, for a total transaction of $80,692.74. The disclosure for this sale can be found here. Insiders sold a total of 23,580 shares of company stock valued at $137,382 over the last quarter. Company insiders own 4.50% of the company’s stock.

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.