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

Sunnova Energy International (NYSE:NOVA) released its quarterly earnings data on Wednesday. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.45), Briefing.com reports. 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 11.46% and a negative net margin of 51.02%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.53) earnings per share.

Sunnova Energy International Stock Down 5.6 %

Shares of NOVA stock traded down $0.34 during mid-day trading on Friday, reaching $5.73. 8,258,589 shares of the company were exchanged, compared to its average volume of 7,759,456. The company has a market capitalization of $715.45 million, a P/E ratio of -1.71 and a beta of 2.21. The business’s 50 day simple moving average is $8.69 and its 200 day simple moving average is $6.86. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.97 and a current ratio of 0.97. Sunnova Energy International has a fifty-two week low of $3.37 and a fifty-two week high of $16.35.

Insider Activity at Sunnova Energy International

In related news, insider William J. Berger sold 77,000 shares of Sunnova Energy International stock in a transaction dated Friday, August 23rd. The stock was 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 in the company, valued at approximately $4,626,298.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NOVA shares. BMO Capital Markets reissued a “market perform” rating and set a $8.00 price target (down previously from $10.00) on shares of Sunnova Energy International in a research report on Friday. Citigroup decreased their target price on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Susquehanna raised their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the company a “positive” rating in a report on Friday, August 2nd. Barclays decreased 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 note on Wednesday, October 16th. Finally, Robert W. Baird cut their target price on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday. Seven equities research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

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.