Capital One Financial Weighs in on NOVA FY2024 Earnings

Sunnova Energy International Inc. (NYSE:NOVA - Free Report) - Research analysts at Capital One Financial issued their FY2024 earnings per share (EPS) estimates for Sunnova Energy International in a note issued to investors on Tuesday, December 31st. Capital One Financial analyst W. Suki expects that the company will earn ($3.57) per share for the year. The consensus estimate for Sunnova Energy International's current full-year earnings is ($2.44) per share. Capital One Financial also issued estimates for Sunnova Energy International's Q4 2024 earnings at ($1.74) EPS, Q1 2025 earnings at ($0.96) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.67) EPS, Q4 2025 earnings at ($0.82) EPS and FY2025 earnings at ($3.22) EPS.

NOVA has been the subject of a number of other reports. Piper Sandler cut their price target on Sunnova Energy International from $8.00 to $4.50 and set a "neutral" rating for the company in a report on Friday, November 22nd. Guggenheim lowered shares of Sunnova Energy International from a "buy" rating to a "neutral" rating in a research report on Thursday, November 7th. The Goldman Sachs Group decreased their price target on shares of Sunnova Energy International from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Tuesday, December 17th. Barclays dropped their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $8.00 price objective (down from $10.00) on shares of Sunnova Energy International in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Sunnova Energy International currently has a consensus rating of "Hold" and a consensus price target of $10.24.

Sunnova Energy International Price Performance

NOVA traded up $0.26 during trading on Friday, hitting $4.26. The company's stock had a trading volume of 10,492,957 shares, compared to its average volume of 10,419,328. The firm's 50 day moving average price is $4.38 and its two-hundred day moving average price is $6.78. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The stock has a market capitalization of $532.30 million, a price-to-earnings ratio of -1.27 and a beta of 2.22. Sunnova Energy International has a 12 month low of $2.99 and a 12 month high of $14.44.

Sunnova Energy International (NYSE:NOVA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The firm 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 business's quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.53) EPS.

Insider Activity

In related news, Director Akbar Mohamed bought 54,717 shares of the company's stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of $3.80 per share, for a total transaction of $207,924.60. Following the acquisition, the director now owns 302,654 shares of the company's stock, valued at approximately $1,150,085.20. This represents a 22.07 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Eric Michael Williams purchased 13,800 shares of Sunnova Energy International stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $3.60 per share, with a total value of $49,680.00. Following the acquisition, the chief financial officer now directly owns 13,800 shares of the company's stock, valued at approximately $49,680. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 118,517 shares of company stock valued at $439,605 in the last quarter. Company insiders own 4.50% of the company's stock.

Institutional Trading of Sunnova Energy International

Hedge funds and other institutional investors have recently modified their holdings of the company. nVerses Capital LLC lifted its position in shares of Sunnova Energy International by 237.8% in the second quarter. nVerses Capital LLC now owns 12,500 shares of the company's stock worth $70,000 after purchasing an additional 8,800 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Sunnova Energy International during the 2nd quarter worth about $78,000. AE Wealth Management LLC acquired a new position in shares of Sunnova Energy International during the 2nd quarter worth about $81,000. GAMMA Investing LLC boosted its position in Sunnova Energy International by 736.3% during the third quarter. GAMMA Investing LLC now owns 8,756 shares of the company's stock valued at $85,000 after purchasing an additional 7,709 shares during the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of Sunnova Energy International by 72.2% during the 2nd quarter. Ballentine Partners LLC now owns 18,559 shares of the company's stock worth $104,000 after purchasing an additional 7,783 shares in the last quarter.

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.