Tidal Investments LLC Has $1.06 Million Position in Sunnova Energy International Inc. (NYSE:NOVA)

Tidal Investments LLC trimmed its position in Sunnova Energy International Inc. (NYSE:NOVA) by 39.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 109,087 shares of the company’s stock after selling 70,461 shares during the period. Tidal Investments LLC’s holdings in Sunnova Energy International were worth $1,063,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Erste Asset Management GmbH acquired a new position in shares of Sunnova Energy International during the third quarter valued at $76,550,000. Sylebra Capital LLC grew its position in shares of Sunnova Energy International by 125.6% during the 3rd quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after buying an additional 6,926,399 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Sunnova Energy International by 56.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 14,142,487 shares of the company’s stock valued at $78,915,000 after purchasing an additional 5,118,552 shares during the period. Handelsbanken Fonder AB raised its holdings in Sunnova Energy International by 9.1% in the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock worth $71,097,000 after purchasing an additional 611,452 shares during the period. Finally, Electron Capital Partners LLC boosted its position in shares of Sunnova Energy International by 24.5% during the second quarter. Electron Capital Partners LLC now owns 3,004,938 shares of the company’s stock worth $16,768,000 after purchasing an additional 591,514 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on NOVA. Jefferies Financial Group initiated coverage on Sunnova Energy International in a research report on Thursday, October 10th. They issued a “buy” rating and a $15.00 price objective for the company. Robert W. Baird reduced their price objective on Sunnova Energy International from $12.00 to $9.00 and set an “outperform” rating for the company in a research report on Wednesday. Royal Bank of Canada lowered Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a research report on Monday, December 9th. Citigroup reduced their price target 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. Finally, Morgan Stanley lowered their price objective on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.24.

Insider Activity

In other news, Director Akbar Mohamed purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $3.64 per share, with a total value of $182,000.00. Following the acquisition, the director now owns 352,654 shares in the company, valued at approximately $1,283,660.56. This trade represents a 16.52 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eric Michael Williams acquired 13,800 shares of the firm’s stock in a transaction 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 acquisition, the chief financial officer now owns 13,800 shares in the company, valued at approximately $49,680. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 118,517 shares of company stock valued at $439,605 over the last ninety days. 4.50% of the stock is currently owned by company insiders.

Sunnova Energy International Price Performance

Shares of NYSE NOVA opened at $3.37 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 3.26. The business’s 50 day moving average price is $4.81 and its two-hundred day moving average price is $6.90. The company has a market cap of $421.08 million, a PE ratio of -1.01 and a beta of 2.22. Sunnova Energy International Inc. has a twelve month low of $2.99 and a twelve month high of $16.35.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.98) earnings per share 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 business had revenue of $235.30 million during the quarter, compared to the consensus estimate of $238.23 million. During the same quarter last year, the company posted ($0.53) EPS. The firm’s revenue was up 18.6% on a year-over-year basis. On average, analysts predict that Sunnova Energy International Inc. will post -2.44 EPS for the current year.

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.