Intech Investment Management LLC Invests $370,000 in Sunnova Energy International Inc. (NYSE:NOVA)

Intech Investment Management LLC acquired a new position in Sunnova Energy International Inc. (NYSE:NOVA) in the third quarter, HoldingsChannel reports. The institutional investor acquired 37,940 shares of the company’s stock, valued at approximately $370,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sylebra Capital LLC purchased a new position in Sunnova Energy International during the second quarter valued at $30,783,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake 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 acquiring an additional 5,118,552 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Sunnova Energy International by 9.1% during the third quarter. Handelsbanken Fonder AB now owns 7,299,445 shares of the company’s stock valued at $71,097,000 after acquiring an additional 611,452 shares in the last quarter. Electron Capital Partners LLC grew its stake in 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 valued at $16,768,000 after acquiring an additional 591,514 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Sunnova Energy International during the second quarter valued at $2,851,000.

Insider Buying and Selling at Sunnova Energy International

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

Analyst Ratings Changes

Several research firms recently weighed in on NOVA. Guggenheim cut shares of Sunnova Energy International from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Jefferies Financial Group began coverage on shares of Sunnova Energy International in a research note on Thursday, October 10th. They issued a “buy” rating and a $15.00 price objective for the company. Piper Sandler dropped their price objective on shares of 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. Wells Fargo & Company lifted their price objective on shares of Sunnova Energy International from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. Finally, Morgan Stanley dropped their price objective on shares of Sunnova Energy International from $12.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.73.

Sunnova Energy International Price Performance

NOVA stock opened at $4.97 on Wednesday. Sunnova Energy International Inc. has a 12 month low of $2.99 and a 12 month high of $16.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The company has a 50-day moving average price of $5.82 and a 200 day moving average price of $6.96. The stock has a market cap of $621.00 million, a PE ratio of -1.48 and a beta of 2.22.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The company had revenue of $235.30 million during 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%. Sunnova Energy International’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the firm earned ($0.53) earnings per share. Equities research analysts anticipate that Sunnova Energy International Inc. will post -2.44 earnings per share for the current year.

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.