Rhumbline Advisers Acquires 32,858 Shares of Sunnova Energy International Inc. (NYSE:NOVA)

Rhumbline Advisers raised its holdings in shares of Sunnova Energy International Inc. (NYSE:NOVA) by 17.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,074 shares of the company’s stock after purchasing an additional 32,858 shares during the quarter. Rhumbline Advisers owned 0.18% of Sunnova Energy International worth $1,239,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOVA. Peoples Bank KS bought a new stake in Sunnova Energy International during the 2nd quarter valued at $56,000. Caxton Associates LP purchased a new position in Sunnova Energy International during the 1st quarter worth $62,000. First Trust Direct Indexing L.P. purchased a new position in Sunnova Energy International during the 1st quarter worth $66,000. Presidio Capital Management LLC purchased a new position in Sunnova Energy International during the 2nd quarter worth $67,000. Finally, nVerses Capital LLC boosted its holdings 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 acquiring an additional 8,800 shares during the last quarter.

Sunnova Energy International Trading Down 3.9 %

Shares of NOVA opened at $11.07 on Friday. The business’s 50-day moving average price is $9.21 and its 200-day moving average price is $6.47. Sunnova Energy International Inc. has a twelve month low of $3.37 and a twelve month high of $16.35. The stock has a market cap of $1.37 billion, a PE ratio of -3.28 and a beta of 2.22. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 3.11.

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, beating the consensus estimate 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 firm had revenue of $219.60 million for the quarter, compared to analysts’ expectations of $220.38 million. During the same period in the prior year, the business posted ($0.74) earnings per share. The company’s revenue was up 32.0% on a year-over-year basis. On average, equities analysts forecast that Sunnova Energy International Inc. will post -1.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Piper Sandler lifted their price objective on shares of Sunnova Energy International from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Robert W. Baird lifted their price objective on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Scotiabank lifted their price objective on shares of Sunnova Energy International from $10.00 to $14.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 6th. Susquehanna boosted their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a report on Friday, August 2nd. Finally, Morgan Stanley boosted their price target on shares of Sunnova Energy International from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 21st. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.26.

Insider Activity

In other news, insider William J. Berger sold 77,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $4,626,298.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.50% of the company’s stock.

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.