Peapack Gladstone Financial Corp Buys 3,200 Shares of Sunnova Energy International Inc. (NYSE:NOVA)

Peapack Gladstone Financial Corp increased its stake in Sunnova Energy International Inc. (NYSE:NOVA) by 11.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,200 shares of the company’s stock after purchasing an additional 3,200 shares during the period. Peapack Gladstone Financial Corp’s holdings in Sunnova Energy International were worth $314,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sanctuary Advisors LLC increased its stake in Sunnova Energy International by 36.1% in the third quarter. Sanctuary Advisors LLC now owns 695,582 shares of the company’s stock valued at $6,775,000 after acquiring an additional 184,683 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Sunnova Energy International in the 3rd quarter valued at $433,000. Geode Capital Management LLC raised its holdings in shares of Sunnova Energy International by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company’s stock worth $24,965,000 after buying an additional 88,945 shares in the last quarter. Sylebra Capital LLC lifted its position in shares of Sunnova Energy International by 125.6% during the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after buying an additional 6,926,399 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Sunnova Energy International in the third quarter valued at about $875,000.

Sunnova Energy International Price Performance

Sunnova Energy International stock opened at $3.99 on Tuesday. The stock has a market capitalization of $498.56 million, a price-to-earnings ratio of -1.19 and a beta of 2.22. Sunnova Energy International Inc. has a 52-week low of $2.99 and a 52-week high of $16.35. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50 day moving average price is $4.99 and its two-hundred day moving average price is $6.95.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. During the same period in the prior year, the company earned ($0.53) earnings per share. The firm’s revenue was up 18.6% compared to the same quarter last year. On average, equities analysts predict that Sunnova Energy International Inc. will post -2.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Guggenheim cut shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Piper Sandler cut their target price on shares of Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Wolfe Research downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a report on Monday, November 4th. Morgan Stanley cut their price objective on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Finally, BNP Paribas downgraded Sunnova Energy International from a “neutral” rating to an “underperform” rating and set a $3.50 target price for the company. in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Sunnova Energy International has a consensus rating of “Hold” and an average target price of $10.73.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, CFO Eric Michael Williams acquired 13,800 shares of the company’s stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $3.60 per share, with a total value of $49,680.00. Following the completion of the purchase, the chief financial officer now owns 13,800 shares of the company’s stock, valued at approximately $49,680. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Akbar Mohamed bought 54,717 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were acquired 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. This represents a 22.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 118,517 shares of company stock valued at $439,605 in the last three months. Corporate insiders own 4.50% of the company’s stock.

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.