Erste Asset Management GmbH Buys Shares of 7,373,248 Sunnova Energy International Inc. (NYSE:NOVA)

Erste Asset Management GmbH purchased a new position in shares of Sunnova Energy International Inc. (NYSE:NOVA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,373,248 shares of the company’s stock, valued at approximately $76,550,000. Sunnova Energy International accounts for about 0.9% of Erste Asset Management GmbH’s portfolio, making the stock its 21st biggest position. Erste Asset Management GmbH owned about 5.90% of Sunnova Energy International as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NOVA. Vanguard Group Inc. increased its stake in shares of 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 during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Sunnova Energy International by 18.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 74,332 shares of the company’s stock worth $456,000 after buying an additional 11,361 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Sunnova Energy International in the first quarter valued at $291,000. Swedbank AB bought a new position in Sunnova Energy International during the first quarter valued at about $2,086,000. Finally, First Affirmative Financial Network grew its holdings in Sunnova Energy International by 12.9% during the second 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 period.

Sunnova Energy International Stock Up 2.4 %

Shares of NYSE:NOVA opened at $5.54 on Friday. Sunnova Energy International Inc. has a 1 year low of $2.99 and a 1 year 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. The business has a fifty day simple moving average of $6.03 and a 200 day simple moving average of $6.93.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly 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). Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The firm had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, equities research analysts expect that Sunnova Energy International Inc. will post -2.37 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on NOVA. Jefferies Financial Group initiated coverage on shares of Sunnova Energy International in a research report on Thursday, October 10th. They set a “buy” rating and a $15.00 price objective for the company. BMO Capital Markets restated a “market perform” rating and set a $8.00 target price (down from $10.00) on shares of Sunnova Energy International in a report on Friday, November 1st. Piper Sandler dropped their price target on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company raised their price objective on Sunnova Energy International from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. Finally, Guggenheim lowered Sunnova Energy International from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.73.

Insiders Place Their Bets

In related news, CFO Eric Michael Williams purchased 13,800 shares of Sunnova Energy International stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 13,800 shares of the company’s stock, valued at approximately $49,680. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Akbar Mohamed acquired 50,000 shares of the stock in a transaction dated Monday, November 18th. The shares were bought at an average cost of $3.64 per share, for a total transaction of $182,000.00. Following the acquisition, the director now owns 352,654 shares in the company, valued at $1,283,660.56. The trade was a 16.52 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 118,517 shares of company stock valued at $439,605 over the last ninety days. Corporate 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.