Sunnova Energy International Inc. (NYSE:NOVA) Sees Significant Decline in Short Interest

Sunnova Energy International Inc. (NYSE:NOVA) saw a significant decrease in short interest in March. As of March 15th, there was short interest totalling 29,540,000 shares, a decrease of 24.8% from the February 28th total of 39,300,000 shares. Based on an average daily trading volume, of 17,940,000 shares, the short-interest ratio is currently 1.6 days. Currently, 24.8% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Erste Asset Management GmbH bought a new position in shares of Sunnova Energy International in the third quarter worth about $76,550,000. Stratos Wealth Partners LTD. acquired a new stake in Sunnova Energy International in the 4th quarter valued at approximately $114,000. Teilinger Capital Ltd. bought a new position in Sunnova Energy International in the 4th quarter worth approximately $3,588,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sunnova Energy International by 17.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 901,433 shares of the company’s stock worth $8,780,000 after buying an additional 134,065 shares during the last quarter. Finally, Sylebra Capital LLC boosted its position in shares of Sunnova Energy International by 125.6% in the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock valued at $121,195,000 after acquiring an additional 6,926,399 shares during the period.

Sunnova Energy International Stock Performance

Shares of NYSE NOVA opened at $0.31 on Friday. The business’s 50-day simple moving average is $1.59 and its 200-day simple moving average is $4.27. Sunnova Energy International has a 52 week low of $0.25 and a 52 week high of $13.00. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $39.28 million, a price-to-earnings ratio of -0.09 and a beta of 2.64.

Sunnova Energy International (NYSE:NOVA) last released its quarterly earnings results on Monday, March 3rd. The company reported ($2.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). The firm had revenue of $224.13 million during the quarter, compared to the consensus estimate of $235.85 million. Sunnova Energy International had a negative net margin of 51.02% and a negative return on equity of 11.15%. During the same period in the prior year, the business earned $0.37 EPS. As a group, equities research analysts expect that Sunnova Energy International will post -2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NOVA has been the topic of a number of recent research reports. Jefferies Financial Group cut Sunnova Energy International from a “buy” rating to a “hold” rating and decreased their target price for the stock from $9.00 to $2.00 in a report on Friday, February 7th. Royal Bank of Canada cut their price objective on Sunnova Energy International from $5.00 to $0.75 and set a “sector perform” rating on the stock in a report on Tuesday, March 4th. TD Cowen started coverage on shares of Sunnova Energy International in a research report on Thursday, December 19th. They issued a “hold” rating and a $5.00 target price on the stock. Susquehanna lowered shares of Sunnova Energy International from a “positive” rating to a “neutral” rating and cut their price target for the company from $14.00 to $4.50 in a report on Friday, January 10th. Finally, Mizuho lowered shares of Sunnova Energy International from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $11.00 to $1.00 in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Sunnova Energy International has an average rating of “Hold” and a consensus target price of $5.39.

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.