Electron Capital Partners LLC Cuts Stock Position in Sunnova Energy International Inc. (NYSE:NOVA)

Electron Capital Partners LLC cut its holdings in Sunnova Energy International Inc. (NYSE:NOVA) by 7.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,917,817 shares of the company’s stock after selling 390,867 shares during the quarter. Sunnova Energy International accounts for 3.2% of Electron Capital Partners LLC’s investment portfolio, making the stock its 14th largest position. Electron Capital Partners LLC’s holdings in Sunnova Energy International were worth $74,997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NOVA. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Sunnova Energy International by 2.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock worth $663,000 after acquiring an additional 1,094 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Sunnova Energy International by 8.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock worth $325,000 after acquiring an additional 1,554 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Sunnova Energy International by 14.0% in the third quarter. Principal Financial Group Inc. now owns 12,893 shares of the company’s stock worth $135,000 after acquiring an additional 1,584 shares during the last quarter. Manchester Capital Management LLC boosted its stake in shares of 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 acquiring an additional 1,835 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Sunnova Energy International by 23.2% in the fourth quarter. Victory Capital Management Inc. now owns 14,310 shares of the company’s stock worth $218,000 after acquiring an additional 2,694 shares during the last quarter.

Sunnova Energy International Trading Down 2.6 %

Shares of NOVA stock traded down $0.14 on Friday, hitting $5.33. The stock had a trading volume of 5,128,015 shares, compared to its average volume of 5,876,955. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market capitalization of $660.81 million, a P/E ratio of -1.58 and a beta of 2.19. Sunnova Energy International Inc. has a 1 year low of $3.37 and a 1 year high of $24.56. The company’s 50 day moving average price is $4.51 and its 200-day moving average price is $8.06.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating 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 return on equity of 12.10% and a negative net margin of 56.52%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.70) EPS. Analysts anticipate that Sunnova Energy International Inc. will post -1.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Robert W. Baird lowered their price objective on Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Evercore ISI lowered their price objective on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Wells Fargo & Company reissued an “equal weight” rating and set a $6.00 price objective (down previously from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. Susquehanna lowered 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, Scotiabank lowered their price objective on 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. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Sunnova Energy International presently has an average rating of “Moderate Buy” and an average target price of $15.73.

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.