Brokers Offer Predictions for NOVA FY2024 Earnings

Sunnova Energy International Inc. (NYSE:NOVA) – Investment analysts at Capital One Financial issued their FY2024 earnings per share estimates for shares of Sunnova Energy International in a report released on Tuesday, December 31st. Capital One Financial analyst W. Suki forecasts that the company will post earnings of ($3.57) per share for the year. The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.44) per share. Capital One Financial also issued estimates for Sunnova Energy International’s Q4 2024 earnings at ($1.74) EPS, Q1 2025 earnings at ($0.96) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.67) EPS, Q4 2025 earnings at ($0.82) EPS and FY2025 earnings at ($3.22) EPS.

A number of other brokerages have also recently weighed in on NOVA. Royal Bank of Canada cut Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 9th. Robert W. Baird lowered their target price on shares of Sunnova Energy International from $12.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. The Goldman Sachs Group cut their price target on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. TD Cowen initiated coverage on shares of Sunnova Energy International in a research note on Thursday, December 19th. They set a “hold” rating and a $5.00 price objective on the stock. Finally, Guggenheim cut shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.24.

Sunnova Energy International Trading Up 16.6 %

Shares of NOVA stock opened at $4.00 on Friday. The firm has a fifty day moving average of $4.41 and a 200-day moving average of $6.80. The stock has a market cap of $499.81 million, a price-to-earnings ratio of -1.19 and a beta of 2.22. Sunnova Energy International has a 52-week low of $2.99 and a 52-week high of $14.83. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. During the same period last year, the company earned ($0.53) EPS. The company’s revenue was up 18.6% on a year-over-year basis.

Insider Transactions at Sunnova Energy International

In other news, Director Akbar Mohamed purchased 54,717 shares of the company’s stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of $3.80 per share, with a total value of $207,924.60. Following the completion of the transaction, the director now owns 302,654 shares of the company’s stock, valued at $1,150,085.20. The trade was a 22.07 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric Michael Williams purchased 13,800 shares of Sunnova Energy International stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $3.60 per share, with a total value of $49,680.00. Following the acquisition, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at $49,680. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired 118,517 shares of company stock valued at $439,605 in the last ninety days. 4.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunnova Energy International

Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Sunnova Energy International by 13.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 394,812 shares of the company’s stock valued at $2,203,000 after acquiring an additional 48,119 shares during the period. nVerses Capital LLC grew its stake in shares of Sunnova Energy International by 237.8% in the second quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after purchasing an additional 8,800 shares during the last quarter. Rhumbline Advisers increased its position in Sunnova Energy International by 17.4% during the 2nd quarter. Rhumbline Advisers now owns 222,074 shares of the company’s stock valued at $1,239,000 after purchasing an additional 32,858 shares during the period. Ballentine Partners LLC increased its position in shares of Sunnova Energy International by 72.2% during the second quarter. Ballentine Partners LLC now owns 18,559 shares of the company’s stock worth $104,000 after buying an additional 7,783 shares during the period. Finally, American Century Companies Inc. grew its holdings in Sunnova Energy International by 14.2% during the 2nd quarter. American Century Companies Inc. now owns 173,283 shares of the company’s stock worth $967,000 after acquiring an additional 21,492 shares during the period.

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.