Sunnova Energy International (NYSE:NOVA) Releases Earnings Results, Misses Estimates By $0.45 EPS

Sunnova Energy International (NYSE:NOVA) announced its quarterly earnings data on Wednesday. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45), Briefing.com reports. The firm had revenue of $235.30 million during the quarter, compared to analysts’ expectations of $238.23 million. Sunnova Energy International had a negative return on equity of 8.85% and a negative net margin of 45.76%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.53) earnings per share.

Sunnova Energy International Price Performance

NYSE:NOVA traded up $0.56 during trading hours on Thursday, reaching $5.94. 15,249,173 shares of the company were exchanged, compared to its average volume of 7,735,323. The stock’s 50-day moving average is $8.88 and its 200-day moving average is $6.86. Sunnova Energy International has a twelve month low of $3.37 and a twelve month high of $16.35. The firm has a market cap of $741.69 million, a PE ratio of -1.99 and a beta of 2.21. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Susquehanna raised their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised their target price on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Robert W. Baird upped their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. BMO Capital Markets increased their price target on Sunnova Energy International from $9.00 to $10.00 and gave the stock a “market perform” rating in a research report on Monday, October 14th. Finally, Morgan Stanley boosted their price objective on Sunnova Energy International from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, August 21st. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Sunnova Energy International currently has an average rating of “Moderate Buy” and an average target price of $12.11.

Insider Transactions at Sunnova Energy International

In related news, insider William J. Berger sold 77,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the transaction, the insider now directly owns 409,045 shares of the company’s stock, valued at approximately $4,626,298.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.