Sunnova Energy International (NYSE:NOVA) Posts Quarterly Earnings Results, Beats Estimates By $0.27 EPS

Sunnova Energy International (NYSE:NOVA) announced its earnings results on Wednesday. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.27, Briefing.com reports. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The company had revenue of $219.60 million during the quarter, compared to analyst estimates of $220.38 million. During the same period in the previous year, the business posted ($0.74) earnings per share. The firm’s quarterly revenue was up 32.0% compared to the same quarter last year.

Sunnova Energy International Price Performance

NOVA stock traded up $1.23 during trading on Thursday, hitting $8.30. 22,828,584 shares of the company’s stock traded hands, compared to its average volume of 8,495,343. Sunnova Energy International has a 52 week low of $3.37 and a 52 week high of $17.69. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -2.38 and a beta of 2.19. The business has a fifty day simple moving average of $5.97 and a 200 day simple moving average of $6.47. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.74 and a current ratio of 0.74.

Insider Transactions at Sunnova Energy International

In related news, insider William J. Berger 48,413 shares of the firm’s stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NOVA shares. Morgan Stanley cut their price objective on shares of Sunnova Energy International from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Friday, June 14th. BMO Capital Markets lowered their price objective on Sunnova Energy International from $10.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, May 3rd. Wells Fargo & Company reiterated an “equal weight” rating and set a $6.00 price objective (down from $11.00) on shares of Sunnova Energy International in a research note on Friday, April 19th. Susquehanna raised their target price on shares of Sunnova Energy International from $10.00 to $12.00 and gave the stock a “positive” rating in a research note on Monday, July 15th. Finally, Evercore ISI dropped their price target on shares of Sunnova Energy International from $26.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.80.

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.