Quest Partners LLC Grows Position in Sunnova Energy International Inc. (NYSE:NOVA)

Quest Partners LLC raised its stake in shares of Sunnova Energy International Inc. (NYSE:NOVA) by 101,695.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,185 shares of the company’s stock after purchasing an additional 67,119 shares during the quarter. Quest Partners LLC’s holdings in Sunnova Energy International were worth $654,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. First Affirmative Financial Network raised its stake in Sunnova Energy International by 12.9% in the 2nd quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock worth $83,000 after acquiring an additional 1,691 shares during the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Sunnova Energy International by 11.6% in the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock valued at $189,000 after purchasing an additional 2,016 shares during the period. Ballentine Partners LLC raised its stake in shares of Sunnova Energy International by 15.9% in the third quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock worth $210,000 after purchasing an additional 2,956 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Sunnova Energy International by 37,400.0% during the third quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after purchasing an additional 2,992 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Sunnova Energy International by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock valued at $315,000 after buying an additional 3,559 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NOVA. The Goldman Sachs Group raised their price target on shares of Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price target on shares of Sunnova Energy International from $6.00 to $9.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th. Robert W. Baird reduced their price objective on Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Morgan Stanley lowered their target price on Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. Finally, Citigroup reduced their price target on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $10.73.

Sunnova Energy International Stock Performance

NYSE NOVA opened at $4.90 on Friday. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $6.66 and its 200-day simple moving average is $6.88. The company has a market cap of $611.63 million, a PE ratio of -1.46 and a beta of 2.26. Sunnova Energy International Inc. has a 1-year low of $2.99 and a 1-year high of $16.35.

Sunnova Energy International (NYSE:NOVA) last announced its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The business had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.53) EPS. As a group, equities research analysts anticipate that Sunnova Energy International Inc. will post -2.29 EPS for the current fiscal year.

Insider Activity at Sunnova Energy International

In related news, CFO Eric Michael Williams bought 13,800 shares of the company’s stock in a transaction on Monday, November 18th. The stock was bought at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the acquisition, the chief financial officer now directly owns 13,800 shares in the company, valued at $49,680. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Akbar Mohamed purchased 54,717 shares of Sunnova Energy International stock in a transaction dated Friday, November 15th. The shares were bought at an average price of $3.80 per share, for a total transaction of $207,924.60. Following the acquisition, the director now owns 302,654 shares in the company, valued at approximately $1,150,085.20. This trade represents a 22.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 118,517 shares of company stock valued at $439,605. Corporate 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.