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

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

Sunnova Energy International Stock Performance

Shares of NOVA stock traded up $0.32 on Thursday, hitting $5.70. The company’s stock had a trading volume of 12,342,036 shares, compared to its average volume of 7,720,623. Sunnova Energy International has a fifty-two week low of $3.37 and a fifty-two week high of $16.35. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s 50 day moving average is $8.88 and its 200-day moving average is $6.86. The company has a market capitalization of $711.72 million, a PE ratio of -1.99 and a beta of 2.21.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Piper Sandler lifted their target price on Sunnova Energy International from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Citigroup lowered their price objective on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. The Goldman Sachs Group raised their target price on shares of Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada boosted their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Morgan Stanley upped their target price on shares of Sunnova Energy International from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.11.

Insider Buying and Selling at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the completion of the sale, the insider now directly owns 409,045 shares in the company, valued at approximately $4,626,298.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.