Brokers Offer Predictions for NOVA FY2024 Earnings

Sunnova Energy International Inc. (NYSE:NOVA) – Analysts at Capital One Financial issued their FY2024 earnings per share estimates for Sunnova Energy International in a research note issued on Tuesday, December 31st. Capital One Financial analyst W. Suki forecasts that the company will post earnings of ($3.57) per share for the year. The consensus estimate for Sunnova Energy International’s current full-year earnings is ($2.44) per share. Capital One Financial also issued estimates for Sunnova Energy International’s Q4 2024 earnings at ($1.74) EPS, Q1 2025 earnings at ($0.96) EPS, Q2 2025 earnings at ($0.76) EPS, Q3 2025 earnings at ($0.67) EPS, Q4 2025 earnings at ($0.82) EPS and FY2025 earnings at ($3.22) EPS.

Several other research analysts have also weighed in on the stock. BMO Capital Markets restated a “market perform” rating and set a $8.00 price objective (down from $10.00) on shares of Sunnova Energy International in a research note on Friday, November 1st. Citigroup reduced their price target on shares of Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Guggenheim cut shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Piper Sandler decreased their target price on Sunnova Energy International from $8.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday, November 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating on the stock in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Sunnova Energy International presently has a consensus rating of “Hold” and a consensus target price of $10.24.

Sunnova Energy International Stock Up 6.5 %

Shares of NOVA opened at $4.26 on Friday. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50 day simple moving average is $4.36 and its 200-day simple moving average is $6.78. Sunnova Energy International has a one year low of $2.99 and a one year high of $14.44. The company has a market capitalization of $532.30 million, a P/E ratio of -1.27 and a beta of 2.22.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $235.30 million for the quarter, compared to analyst estimates of $238.23 million. During the same period last year, the business earned ($0.53) EPS. The company’s quarterly revenue was up 18.6% on a year-over-year basis.

Insider Buying and Selling at Sunnova Energy International

In other news, CFO Eric Michael Williams acquired 13,800 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $3.60 per share, for a total transaction of $49,680.00. Following the completion of the transaction, the chief financial officer now directly owns 13,800 shares in the company, valued at $49,680. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Akbar Mohamed acquired 54,717 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $3.80 per share, with a total value of $207,924.60. Following the completion of the purchase, the director now owns 302,654 shares of the company’s stock, valued at $1,150,085.20. This trade represents a 22.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 118,517 shares of company stock valued at $439,605 in the last 90 days. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC lifted its stake in shares of Sunnova Energy International by 237.8% in the 2nd quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock valued at $70,000 after acquiring an additional 8,800 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Sunnova Energy International in the 2nd quarter worth about $78,000. AE Wealth Management LLC bought a new position in Sunnova Energy International in the 2nd quarter valued at $81,000. GAMMA Investing LLC grew its position in shares of Sunnova Energy International by 736.3% during the 3rd quarter. GAMMA Investing LLC now owns 8,756 shares of the company’s stock valued at $85,000 after acquiring an additional 7,709 shares during the period. Finally, Ballentine Partners LLC grew its stake in shares of Sunnova Energy International by 72.2% during the 2nd quarter. Ballentine Partners LLC now owns 18,559 shares of the company’s stock worth $104,000 after acquiring an additional 7,783 shares during the period.

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.