AQR Capital Management LLC Grows Position in Sunnova Energy International Inc. (NYSE:NOVA)

AQR Capital Management LLC increased its position in shares of Sunnova Energy International Inc. (NYSE:NOVA) by 362.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,419 shares of the company’s stock after buying an additional 81,830 shares during the quarter. AQR Capital Management LLC owned about 0.08% of Sunnova Energy International worth $583,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NOVA. Wellington Management Group LLP boosted its stake in shares of Sunnova Energy International by 2.3% in the fourth quarter. Wellington Management Group LLP now owns 343,267 shares of the company’s stock valued at $5,235,000 after buying an additional 7,571 shares in the last quarter. Vanguard Group Inc. increased its stake in Sunnova Energy International by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 10,486,392 shares of the company’s stock valued at $159,917,000 after purchasing an additional 215,905 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new stake in Sunnova Energy International during the first quarter valued at about $66,000. Mirae Asset Global Investments Co. Ltd. grew its position in Sunnova Energy International by 7.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,766 shares of the company’s stock valued at $630,000 after acquiring an additional 6,751 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in Sunnova Energy International by 129.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,788 shares of the company’s stock valued at $72,000 after acquiring an additional 6,661 shares during the period.

Sunnova Energy International Price Performance

NOVA opened at $6.33 on Tuesday. The stock has a market cap of $784.81 million, a price-to-earnings ratio of -1.88 and a beta of 2.21. Sunnova Energy International Inc. has a 1 year low of $3.37 and a 1 year high of $16.35. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11. The stock has a fifty day moving average price of $9.50 and a 200 day moving average price of $6.83.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results 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. Sunnova Energy International had a negative return on equity of 8.85% and a negative net margin of 45.76%. The company had revenue of $219.60 million during the quarter, compared to analysts’ expectations of $220.38 million. During the same quarter in the previous year, the firm earned ($0.74) earnings per share. The business’s quarterly revenue was up 32.0% compared to the same quarter last year. Analysts forecast that Sunnova Energy International Inc. will post -1.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on NOVA. BMO Capital Markets upped their target price on Sunnova Energy International from $9.00 to $10.00 and gave the stock a “market perform” rating in a research report on Monday. Guggenheim raised their price target on Sunnova Energy International from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company raised their target price on Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 6th. Barclays lowered their target price on Sunnova Energy International from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Finally, Robert W. Baird lifted their price target on Sunnova Energy International from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Sunnova Energy International presently has an average rating of “Moderate Buy” and an average price target of $12.75.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $11.31, for a total transaction of $870,870.00. Following the sale, the insider now directly owns 409,045 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.