Sunnova Energy International Inc. (NYSE:NOVA) Forecasted to Post Q2 2022 Earnings of ($0.40) Per Share

Sunnova Energy International Inc. (NYSE:NOVAGet Rating) – Investment analysts at KeyCorp issued their Q2 2022 earnings estimates for shares of Sunnova Energy International in a note issued to investors on Tuesday, April 19th. KeyCorp analyst S. Karp expects that the company will post earnings per share of ($0.40) for the quarter. KeyCorp currently has a “Overweight” rating and a $39.00 target price on the stock. KeyCorp also issued estimates for Sunnova Energy International’s Q3 2022 earnings at ($0.34) EPS, FY2022 earnings at ($1.75) EPS, FY2023 earnings at ($1.67) EPS, FY2024 earnings at ($1.33) EPS and FY2025 earnings at ($1.19) EPS.

Sunnova Energy International (NYSE:NOVAGet Rating) last posted its earnings results on Wednesday, February 23rd. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.09. Sunnova Energy International had a negative net margin of 57.14% and a negative return on equity of 10.44%. The firm had revenue of $65.02 million during the quarter, compared to analyst estimates of $64.66 million.

A number of other analysts have also issued reports on NOVA. Piper Sandler cut their price target on shares of Sunnova Energy International from $36.00 to $33.00 in a research note on Thursday. Zacks Investment Research raised shares of Sunnova Energy International from a “sell” rating to a “hold” rating in a research report on Tuesday, January 25th. Raymond James dropped their price objective on shares of Sunnova Energy International from $50.00 to $32.00 and set a “strong-buy” rating on the stock in a research note on Thursday, February 24th. The Goldman Sachs Group lowered shares of Sunnova Energy International from a “conviction-buy” rating to a “buy” rating in a research note on Sunday, January 9th. Finally, Robert W. Baird dropped their price target on shares of Sunnova Energy International from $56.00 to $46.00 in a research note on Monday, February 28th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $47.79.

Shares of NOVA stock opened at $15.94 on Friday. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -12.65 and a beta of 2.21. Sunnova Energy International has a twelve month low of $13.90 and a twelve month high of $46.40. The company’s 50-day moving average price is $21.37 and its 200-day moving average price is $27.25. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 2.12.

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE grew its holdings in Sunnova Energy International by 37.5% during the third quarter. US Bancorp DE now owns 1,522 shares of the company’s stock worth $50,000 after purchasing an additional 415 shares during the period. Nisa Investment Advisors LLC lifted its position in Sunnova Energy International by 30.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,600 shares of the company’s stock worth $51,000 after purchasing an additional 600 shares during the period. Fulcrum Asset Management LLP bought a new stake in Sunnova Energy International during the fourth quarter worth about $74,000. Macquarie Group Ltd. increased its position in Sunnova Energy International by 65.8% during the 3rd quarter. Macquarie Group Ltd. now owns 4,087 shares of the company’s stock worth $135,000 after purchasing an additional 1,622 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in shares of Sunnova Energy International by 85.8% during the third quarter. Advisor Group Holdings Inc. now owns 4,967 shares of the company’s stock worth $163,000 after buying an additional 2,294 shares in the last quarter.

In other news, Director Akbar Mohamed acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The stock was purchased at an average price of $19.09 per share, for a total transaction of $190,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Hayden sold 3,780 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $21.71, for a total transaction of $82,063.80. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Sunnova Energy International Company Profile (Get Rating)

Sunnova Energy International Inc provides residential energy services 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 diagnostics services. As of December 31, 2021, it operated a fleet of residential solar energy systems with a generation capacity of approximately 1,140 megawatts serving over 195,000 customers.

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Earnings History and Estimates for Sunnova Energy International (NYSE:NOVA)

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