Sunnova Energy International (NYSE:NOVA) Announces Earnings Results

Sunnova Energy International (NYSE:NOVA) issued its quarterly earnings data on Wednesday. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.27, Briefing.com reports. The business had revenue of $219.60 million for the quarter, compared to the consensus estimate of $220.38 million. Sunnova Energy International had a negative return on equity of 9.28% and a negative net margin of 45.76%. The firm’s revenue was up 32.0% compared to the same quarter last year. During the same period last year, the business earned ($0.74) EPS.

Sunnova Energy International Stock Down 3.7 %

NYSE NOVA traded down $0.31 during mid-day trading on Friday, reaching $7.99. The stock had a trading volume of 9,154,063 shares, compared to its average volume of 8,315,148. Sunnova Energy International has a 1 year low of $3.37 and a 1 year high of $17.69. The company has a fifty day moving average price of $6.13 and a 200 day moving average price of $6.45. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.74 and a quick ratio of 0.74.

Insider Buying and Selling

In other news, insider William J. Berger 48,413 shares of the stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Truist Financial boosted their price target on Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, July 29th. KeyCorp cut Sunnova Energy International from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 23rd. Susquehanna increased their price target on Sunnova Energy International from $12.00 to $14.00 and gave the company a “positive” rating in a research report on Friday. Scotiabank lowered their target price 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. Finally, Morgan Stanley lowered their price objective on Sunnova Energy International from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. Eight investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.00.

Sunnova Energy International Company 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.