Erste Asset Management GmbH Makes New Investment in Sunnova Energy International Inc. (NYSE:NOVA)

Erste Asset Management GmbH purchased a new stake in Sunnova Energy International Inc. (NYSE:NOVA - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,373,248 shares of the company's stock, valued at approximately $76,550,000. Sunnova Energy International makes up approximately 0.9% of Erste Asset Management GmbH's portfolio, making the stock its 21st largest holding. Erste Asset Management GmbH owned approximately 5.90% of Sunnova Energy International as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of NOVA. International Assets Investment Management LLC raised its position in shares of Sunnova Energy International by 37,400.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company's stock valued at $308,000 after buying an additional 2,992 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Sunnova Energy International by 736.3% during the 3rd 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. Peoples Bank KS acquired a new position in Sunnova Energy International during the 2nd quarter worth approximately $56,000. Creative Planning bought a new position in Sunnova Energy International in the 3rd quarter valued at approximately $107,000. Finally, Presidio Capital Management LLC acquired a new stake in Sunnova Energy International in the second quarter valued at approximately $67,000.

Insiders Place Their Bets

In other news, CFO Eric Michael Williams purchased 13,800 shares of the business's stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the purchase, the chief financial officer now owns 13,800 shares of the company's stock, valued at $49,680. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Akbar Mohamed acquired 50,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of $3.64 per share, for a total transaction of $182,000.00. Following the completion of the purchase, the director now directly owns 352,654 shares in the company, valued at $1,283,660.56. This trade represents a 16.52 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 118,517 shares of company stock valued at $439,605. Company insiders own 4.50% of the company's stock.

Sunnova Energy International Stock Performance

Shares of NOVA traded up $0.13 on Friday, reaching $5.54. 5,762,694 shares of the company's stock traded hands, compared to its average volume of 15,196,862. The stock's 50 day simple moving average is $6.03 and its two-hundred day simple moving average is $6.93. The stock has a market cap of $692.24 million, a PE ratio of -1.65 and a beta of 2.26. Sunnova Energy International Inc. has a 52-week low of $2.99 and a 52-week high of $16.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26.

Sunnova Energy International (NYSE:NOVA - Get Free Report) 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 analysts' expectations of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.53) earnings per share. On average, analysts forecast that Sunnova Energy International Inc. will post -2.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Guggenheim cut Sunnova Energy International from a "buy" rating to a "neutral" rating in a research note on Thursday, November 7th. Barclays dropped their target price on 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. Robert W. Baird reduced their price target on Sunnova Energy International from $18.00 to $12.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Morgan Stanley dropped their price objective on shares of Sunnova Energy International from $12.00 to $6.00 and set an "equal weight" rating for the company in a report on Friday, November 15th. Finally, Wolfe Research lowered shares of Sunnova Energy International from a "strong-buy" rating to a "hold" rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $10.73.

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.