GAMMA Investing LLC Purchases 7,709 Shares of Sunnova Energy International Inc. (NYSE:NOVA)

GAMMA Investing LLC boosted its stake in Sunnova Energy International Inc. (NYSE:NOVA) by 736.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,756 shares of the company’s stock after acquiring an additional 7,709 shares during the quarter. GAMMA Investing LLC’s holdings in Sunnova Energy International were worth $85,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Peoples Bank KS bought a new stake in Sunnova Energy International during the 2nd quarter worth about $56,000. Caxton Associates LP bought a new stake in Sunnova Energy International during the 1st quarter worth about $62,000. First Trust Direct Indexing L.P. bought a new stake in Sunnova Energy International during the 1st quarter worth about $66,000. Presidio Capital Management LLC bought a new stake in Sunnova Energy International during the 2nd quarter worth about $67,000. Finally, nVerses Capital LLC lifted its position in Sunnova Energy International by 237.8% during the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock worth $70,000 after buying an additional 8,800 shares in the last quarter.

Wall Street Analysts Forecast Growth

NOVA has been the topic of several analyst reports. Piper Sandler boosted their price target on shares of Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Robert W. Baird boosted their price objective on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Morgan Stanley boosted their price objective on shares of Sunnova Energy International from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 21st. Jefferies Financial Group initiated coverage on shares of Sunnova Energy International in a research note on Thursday, October 10th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their price objective on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.75.

Sunnova Energy International Stock Performance

Shares of NYSE:NOVA opened at $6.33 on Tuesday. The company’s 50 day moving average price is $9.50 and its two-hundred day moving average price is $6.83. Sunnova Energy International Inc. has a 12-month low of $3.37 and a 12-month high of $16.35. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 3.11. The firm has a market cap of $784.81 million, a PE ratio of -1.88 and a beta of 2.21.

Sunnova Energy International (NYSE:NOVA) last issued 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 net margin of 45.76% and a negative return on equity of 8.85%. The company had revenue of $219.60 million during the quarter, compared to the consensus estimate of $220.38 million. During the same quarter in the prior year, the firm posted ($0.74) EPS. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. Equities research analysts predict that Sunnova Energy International Inc. will post -1.86 earnings per share for the current year.

Insider Transactions at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the completion of the sale, the insider now owns 409,045 shares of the company’s stock, valued at approximately $4,626,298.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.50% of the stock is currently owned by insiders.

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.