SG Americas Securities LLC Trims Stock Position in Sunnova Energy International Inc. (NYSE:NOVA)

SG Americas Securities LLC lessened its position in shares of Sunnova Energy International Inc. (NYSE:NOVA) by 56.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 23,872 shares of the company’s stock after selling 30,911 shares during the period. SG Americas Securities LLC’s holdings in Sunnova Energy International were worth $233,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOVA. Peoples Bank KS acquired a new stake in Sunnova Energy International during the second quarter valued at $56,000. Caxton Associates LP acquired a new stake in shares of Sunnova Energy International in the first quarter valued at about $62,000. First Trust Direct Indexing L.P. acquired a new stake in shares of Sunnova Energy International in the first quarter valued at about $66,000. Presidio Capital Management LLC acquired a new stake in shares of Sunnova Energy International in the second quarter valued at about $67,000. Finally, nVerses Capital LLC grew its position in shares of Sunnova Energy International by 237.8% in the second quarter. nVerses Capital LLC now owns 12,500 shares of the company’s stock valued at $70,000 after purchasing an additional 8,800 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOVA. Truist Financial lifted their target price on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Robert W. Baird lifted their target price on shares of Sunnova Energy International from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Scotiabank lifted their target price on shares of Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 6th. Morgan Stanley lifted their target price on shares of Sunnova Energy International from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada lifted their target price on shares of Sunnova Energy International from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.22.

Insider Activity

In other news, insider William J. Berger sold 77,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $11.31, for a total value of $870,870.00. Following the sale, the insider now directly owns 409,045 shares of the company’s stock, valued at approximately $4,626,298.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.50% of the company’s stock.

Sunnova Energy International Price Performance

Shares of NOVA stock opened at $5.23 on Tuesday. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.97 and a quick ratio of 0.97. The firm’s 50-day moving average is $9.38 and its two-hundred day moving average is $6.85. Sunnova Energy International Inc. has a 12 month low of $3.37 and a 12 month high of $16.35. The company has a market capitalization of $647.81 million, a PE ratio of -1.55 and a beta of 2.21.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.27. The company had revenue of $219.60 million for the quarter, compared to the consensus estimate of $220.38 million. Sunnova Energy International had a negative net margin of 45.76% and a negative return on equity of 8.85%. Sunnova Energy International’s quarterly revenue was up 32.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.74) earnings per share. Analysts predict that Sunnova Energy International Inc. will post -1.86 earnings per share for the current year.

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.