Connor Clark & Lunn Investment Management Ltd. Raises Holdings in Sunnova Energy International Inc. (NYSE:NOVA)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Sunnova Energy International Inc. (NYSE:NOVA) by 190.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 744,686 shares of the company’s stock after buying an additional 488,623 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Sunnova Energy International were worth $7,253,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of NOVA. First Affirmative Financial Network boosted its stake in shares of Sunnova Energy International by 12.9% during the 2nd quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock worth $83,000 after purchasing an additional 1,691 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in Sunnova Energy International by 11.6% during the third quarter. First Trust Direct Indexing L.P. now owns 19,373 shares of the company’s stock worth $189,000 after acquiring an additional 2,016 shares during the last quarter. Ballentine Partners LLC boosted its position in Sunnova Energy International by 15.9% during the third quarter. Ballentine Partners LLC now owns 21,515 shares of the company’s stock worth $210,000 after acquiring an additional 2,956 shares during the last quarter. International Assets Investment Management LLC grew its stake in Sunnova Energy International by 37,400.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,000 shares of the company’s stock worth $308,000 after acquiring an additional 2,992 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Sunnova Energy International by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,487 shares of the company’s stock valued at $315,000 after acquiring an additional 3,559 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NOVA shares. Citigroup lowered their price objective on Sunnova Energy International from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Scotiabank lifted their price target on Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 6th. Wolfe Research downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. Susquehanna raised their target price 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. Finally, Jefferies Financial Group started coverage on shares of Sunnova Energy International in a research report on Thursday, October 10th. They set a “buy” rating and a $15.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sunnova Energy International currently has a consensus rating of “Moderate Buy” and an average target price of $10.73.

Sunnova Energy International Stock Performance

Shares of NYSE:NOVA opened at $4.90 on Friday. The business’s 50-day simple moving average is $6.66 and its 200 day simple moving average is $6.88. The company has a market cap of $611.63 million, a P/E ratio of -1.46 and a beta of 2.26. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. Sunnova Energy International Inc. has a one year low of $2.99 and a one year high of $16.35.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data 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). The firm had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $238.23 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.53) EPS. On average, sell-side analysts forecast that Sunnova Energy International Inc. will post -2.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Akbar Mohamed purchased 54,717 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $3.80 per share, with a total value of $207,924.60. Following the completion of the transaction, the director now owns 302,654 shares of the company’s stock, valued at $1,150,085.20. This represents a 22.07 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Eric Michael Williams purchased 13,800 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average price of $3.60 per share, with a total value of $49,680.00. Following the purchase, the chief financial officer now owns 13,800 shares of the company’s stock, valued at approximately $49,680. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought 118,517 shares of company stock valued at $439,605 in the last quarter. Company insiders own 4.50% of the company’s stock.

Sunnova Energy International 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.