The Manufacturers Life Insurance Company Increases Position in Sunnova Energy International Inc. (NYSE:NOVA)

The Manufacturers Life Insurance Company boosted its stake in shares of Sunnova Energy International Inc. (NYSE:NOVA) by 6.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,487 shares of the company’s stock after acquiring an additional 3,559 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sunnova Energy International were worth $315,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Sunnova Energy International by 0.8% during the first 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. Nisa Investment Advisors LLC grew its stake in Sunnova Energy International by 87,558.3% during the second quarter. Nisa Investment Advisors LLC now owns 105,190 shares of the company’s stock valued at $587,000 after acquiring an additional 105,070 shares in the last quarter. Wellington Management Group LLP grew its stake in Sunnova Energy International by 2.3% during the fourth quarter. Wellington Management Group LLP now owns 343,267 shares of the company’s stock valued at $5,235,000 after acquiring an additional 7,571 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Sunnova Energy International during the first quarter valued at $1,472,000. Finally, Swedbank AB purchased a new position in Sunnova Energy International during the first quarter valued at $2,086,000.

Wall Street Analyst Weigh In

NOVA has been the subject of several research analyst reports. Susquehanna raised their target price 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. BMO Capital Markets increased their price objective on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company a “market perform” rating in a research report on Monday. The Goldman Sachs Group increased their price objective on shares of Sunnova Energy International from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada increased their price objective on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Robert W. Baird increased their price objective on shares of 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 research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.60.

Sunnova Energy International Stock Down 7.3 %

Shares of Sunnova Energy International stock opened at $5.80 on Friday. The firm’s 50 day moving average price is $9.43 and its 200-day moving average price is $6.82. 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 Inc. has a 52-week low of $3.37 and a 52-week high of $16.35. The company has a market cap of $719.10 million, a P/E ratio of -1.72 and a beta of 2.21.

Sunnova Energy International (NYSE:NOVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) 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 firm had revenue of $219.60 million for the quarter, compared to the consensus estimate of $220.38 million. During the same quarter in the previous year, the firm earned ($0.74) EPS. The company’s quarterly revenue was up 32.0% compared to the same quarter last year. On average, sell-side analysts predict that Sunnova Energy International Inc. will post -1.86 EPS for the current fiscal year.

Insider Transactions at Sunnova Energy International

In other news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the transaction, the insider now owns 409,045 shares of the company’s stock, valued at $4,626,298.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.50% of the company’s stock.

Sunnova Energy International 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.