Erste Asset Management GmbH Sells 714,288 Shares of Sunnova Energy International Inc. (NYSE:NOVA)

Erste Asset Management GmbH decreased its position in shares of Sunnova Energy International Inc. (NYSE:NOVA) by 9.7% during the 4th quarter, HoldingsChannel reports. The fund owned 6,658,960 shares of the company’s stock after selling 714,288 shares during the period. Erste Asset Management GmbH owned about 0.05% of Sunnova Energy International worth $23,234,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. DRW Securities LLC acquired a new stake in shares of Sunnova Energy International during the 3rd quarter valued at $989,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Sunnova Energy International during the 4th quarter valued at $114,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Sunnova Energy International by 190.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,686 shares of the company’s stock valued at $7,253,000 after acquiring an additional 488,623 shares in the last quarter. Teilinger Capital Ltd. acquired a new stake in shares of Sunnova Energy International during the 4th quarter valued at $3,588,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Sunnova Energy International by 17.5% during the 3rd 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.

Sunnova Energy International Stock Performance

Shares of Sunnova Energy International stock opened at $0.37 on Thursday. Sunnova Energy International Inc. has a one year low of $0.36 and a one year high of $13.00. The firm has a market capitalization of $45.78 million, a price-to-earnings ratio of -0.11 and a beta of 2.64. The business has a 50-day simple moving average of $2.39 and a 200 day simple moving average of $5.15. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($2.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). The company had revenue of $224.13 million for the quarter, compared to the consensus estimate of $235.85 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. During the same period in the prior year, the firm posted $0.37 earnings per share. On average, research analysts anticipate that Sunnova Energy International Inc. will post -2.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on NOVA shares. JPMorgan Chase & Co. downgraded Sunnova Energy International from an “overweight” rating to a “neutral” rating in a report on Monday, March 3rd. Wells Fargo & Company downgraded Sunnova Energy International from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $4.00 to $0.50 in a report on Tuesday, March 4th. Susquehanna downgraded Sunnova Energy International from a “positive” rating to a “neutral” rating and cut their target price for the stock from $14.00 to $4.50 in a report on Friday, January 10th. Truist Financial downgraded Sunnova Energy International from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $2.00 target price (down from $9.00) on shares of Sunnova Energy International in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.39.

Sunnova Energy International 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.