Cim Investment Management Inc. Sells 3,773 Shares of Sunnova Energy International Inc. (NYSE:NOVA)

Cim Investment Management Inc. reduced its stake in Sunnova Energy International Inc. (NYSE:NOVA) by 19.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 15,874 shares of the company’s stock after selling 3,773 shares during the quarter. Cim Investment Management Inc.’s holdings in Sunnova Energy International were worth $89,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Sunnova Energy International by 56.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock valued at $78,915,000 after acquiring an additional 5,118,552 shares in the last quarter. Vanguard Group Inc. lifted its position in Sunnova Energy International by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 10,568,045 shares of the company’s stock valued at $64,782,000 after acquiring an additional 81,653 shares in the last quarter. Electron Capital Partners LLC lifted its position in Sunnova Energy International by 24.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock valued at $16,768,000 after acquiring an additional 591,514 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in Sunnova Energy International by 3,168.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 574,127 shares of the company’s stock valued at $3,519,000 after acquiring an additional 556,563 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Sunnova Energy International by 13.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 394,812 shares of the company’s stock valued at $2,203,000 after acquiring an additional 48,119 shares in the last quarter.

Sunnova Energy International Stock Down 1.5 %

Shares of NOVA opened at $10.39 on Friday. Sunnova Energy International Inc. has a 52 week low of $3.37 and a 52 week high of $16.35. The firm has a market cap of $1.29 billion, a P/E ratio of -3.08 and a beta of 2.22. The firm’s 50-day simple moving average is $9.52 and its 200 day simple moving average is $6.64. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, beating 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 business had revenue of $219.60 million for the quarter, compared to analyst estimates of $220.38 million. During the same quarter in the prior year, the business earned ($0.74) EPS. Sunnova Energy International’s quarterly revenue was up 32.0% on a year-over-year basis. On average, analysts forecast that Sunnova Energy International Inc. will post -1.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Truist Financial lifted their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Guggenheim lifted their price target on shares of Sunnova Energy International from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler lifted their price target on shares of Sunnova Energy International from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Susquehanna lifted their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the company a “positive” rating in a research note on Friday, August 2nd. Finally, Scotiabank lifted their price target on shares of Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 6th. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.26.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, insider William J. Berger sold 77,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.50% of the stock is owned by company insiders.

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.