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

Sunnova Energy International (NYSE:NOVA) issued 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 firm had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.46%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.53) earnings per share.

Sunnova Energy International Stock Performance

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company a “market perform” rating in a research report on Monday, October 14th. Royal Bank of Canada boosted their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Susquehanna boosted their price target on shares of Sunnova Energy International from $12.00 to $14.00 and gave the stock a “positive” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating on the stock in a research report on Friday. Finally, Robert W. Baird dropped their price target on shares of Sunnova Energy International from $18.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.71.

Insider Activity

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 completion of the transaction, the insider now owns 409,045 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.50% of the stock is owned by company insiders.

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.