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

Sunnova Energy International (NYSE:NOVA) announced its quarterly earnings data 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. The business had revenue of $235.30 million for the quarter, compared to the consensus estimate of $238.23 million. Sunnova Energy International had a negative return on equity of 8.85% and a negative net margin of 45.76%. Sunnova Energy International’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.53) earnings per share.

Sunnova Energy International Trading Up 5.9 %

NOVA stock traded up $0.32 during mid-day trading on Thursday, reaching $5.70. The company’s stock had a trading volume of 12,342,036 shares, compared to its average volume of 7,720,623. Sunnova Energy International has a 12 month low of $3.37 and a 12 month high of $16.35. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 3.11. The business’s 50 day moving average price is $8.88 and its 200 day moving average price is $6.86. The company has a market cap of $711.72 million, a price-to-earnings ratio of -1.99 and a beta of 2.21.

Wall Street Analysts Forecast Growth

NOVA has been the topic of several research reports. Barclays decreased their price target on shares of Sunnova Energy International from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Morgan Stanley increased their price target on Sunnova Energy International from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 21st. Guggenheim boosted their price objective on Sunnova Energy International from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Truist Financial increased their target price on Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group boosted their price target on Sunnova Energy International from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.11.

Insiders Place Their Bets

In other news, insider William J. Berger sold 77,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $11.31, for a total transaction of $870,870.00. Following the transaction, the insider now owns 409,045 shares in the company, valued at approximately $4,626,298.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.