Research Analysts Issue Forecasts for Sunnova Energy International Inc.’s Q3 2024 Earnings (NYSE:NOVA)

Sunnova Energy International Inc. (NYSE:NOVA) – Stock analysts at Northland Capmk reduced their Q3 2024 EPS estimates for shares of Sunnova Energy International in a research note issued to investors on Monday, August 5th. Northland Capmk analyst D. Schafer now forecasts that the company will post earnings of ($0.48) per share for the quarter, down from their previous forecast of ($0.34). The consensus estimate for Sunnova Energy International’s current full-year earnings is ($1.89) per share. Northland Capmk also issued estimates for Sunnova Energy International’s Q4 2024 earnings at ($0.46) EPS and FY2024 earnings at ($1.78) EPS.

A number of other research firms also recently commented on NOVA. Truist Financial lifted their target price on Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Wells Fargo & Company upped their price target on Sunnova Energy International from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Susquehanna increased their target price on Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a research note on Friday, August 2nd. Evercore ISI dropped their target price on Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, BMO Capital Markets reduced their price target on shares of Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Sunnova Energy International Trading Down 4.8 %

NYSE:NOVA traded down $0.35 on Thursday, hitting $6.93. The stock had a trading volume of 6,267,649 shares, compared to its average volume of 8,436,967. The company has a fifty day moving average price of $6.39 and a two-hundred day moving average price of $6.35. Sunnova Energy International has a 1-year low of $3.37 and a 1-year high of $16.78. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 3.41. The stock has a market cap of $859.20 million, a price-to-earnings ratio of -2.06 and a beta of 2.19.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.27. The company had revenue of $219.60 million for the quarter, compared to analyst estimates 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 for the quarter was up 32.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.74) earnings per share.

Hedge Funds Weigh In On Sunnova Energy International

Large investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Sunnova Energy International by 2.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock worth $663,000 after purchasing an additional 1,094 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Sunnova Energy International by 8.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock valued at $325,000 after buying an additional 1,554 shares during the period. First Affirmative Financial Network boosted its stake in shares of Sunnova Energy International by 12.9% in the second quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock valued at $83,000 after buying an additional 1,691 shares in the last quarter. Manchester Capital Management LLC grew its holdings in Sunnova Energy International by 2,959.7% during the fourth quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after acquiring an additional 1,835 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Sunnova Energy International by 23.2% in the fourth quarter. Victory Capital Management Inc. now owns 14,310 shares of the company’s stock valued at $218,000 after acquiring an additional 2,694 shares during the period.

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.