Sunnova Energy International (NYSE:NOVA) Issues Quarterly Earnings Results, Misses Expectations By $0.45 EPS

Sunnova Energy International (NYSE:NOVA) issued its earnings results on Wednesday. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.45), Briefing.com reports. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.46%. The firm had revenue of $235.30 million during the quarter, compared to analyst estimates of $238.23 million. During the same period last year, the business earned ($0.53) EPS. The firm’s revenue was up 18.6% compared to the same quarter last year.

Sunnova Energy International Stock Performance

Shares of NYSE NOVA remained flat at $6.07 during midday trading on Friday. 2,679,236 shares of the stock traded hands, compared to its average volume of 7,733,223. Sunnova Energy International has a 1-year low of $3.37 and a 1-year high of $16.35. The business has a fifty day simple moving average of $8.80 and a two-hundred day simple moving average of $6.85. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $757.90 million, a price-to-earnings ratio of -1.82 and a beta of 2.21.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NOVA shares. Citigroup cut their price objective on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their target price 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. Morgan Stanley lifted their target price on shares of Sunnova Energy International from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, August 21st. Scotiabank lifted their target price on shares of Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 6th. Finally, BMO Capital Markets lifted their target price on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company a “market perform” rating in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.71.

Insider Activity

In other news, insider William J. Berger sold 77,000 shares of Sunnova Energy International 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 transaction, the insider now directly owns 409,045 shares of the company’s stock, valued at approximately $4,626,298.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.50% of the company’s stock.

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.