Edgestream Partners L.P. Takes $1.47 Million Position in Sunnova Energy International Inc. (NYSE:NOVA)

Edgestream Partners L.P. acquired a new stake in Sunnova Energy International Inc. (NYSE:NOVA) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 240,185 shares of the company’s stock, valued at approximately $1,472,000. Edgestream Partners L.P. owned approximately 0.19% of Sunnova Energy International as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ballentine Partners LLC purchased a new position in Sunnova Energy International during the fourth quarter worth about $161,000. Vanguard Group Inc. grew its stake in Sunnova Energy International by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 10,270,487 shares of the company’s stock valued at $107,532,000 after purchasing an additional 379,032 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Sunnova Energy International by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 842,130 shares of the company’s stock worth $12,842,000 after buying an additional 61,953 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Sunnova Energy International by 124.4% during the 4th quarter. Van ECK Associates Corp now owns 1,563,320 shares of the company’s stock worth $23,841,000 after buying an additional 866,705 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Sunnova Energy International during the 4th quarter worth approximately $199,000.

Sunnova Energy International Stock Performance

NYSE:NOVA traded up $0.41 during mid-day trading on Tuesday, hitting $7.99. 2,637,993 shares of the company’s stock traded hands, compared to its average volume of 8,368,594. The firm has a 50 day moving average of $5.56 and a two-hundred day moving average of $6.68. Sunnova Energy International Inc. has a 12 month low of $3.37 and a 12 month high of $21.71. The firm has a market capitalization of $990.60 million, a price-to-earnings ratio of -2.25 and a beta of 2.19. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.22. The firm had revenue of $160.90 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.70) EPS. On average, equities analysts forecast that Sunnova Energy International Inc. will post -1.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company reissued an “equal weight” rating and issued a $6.00 price target (down previously from $11.00) on shares of Sunnova Energy International in a report on Friday, April 19th. Piper Sandler cut Sunnova Energy International from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $9.00 to $4.50 in a report on Tuesday, May 21st. Mizuho cut their target price on Sunnova Energy International from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Evercore ISI dropped their price target on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, Robert W. Baird dropped their price target on Sunnova Energy International from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.04.

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.