First Trust Advisors LP Boosts Stake in Sunnova Energy International Inc. (NYSE:NOVA)

Posted by on May 23rd, 2023

First Trust Advisors LP lifted its position in shares of Sunnova Energy International Inc. (NYSE:NOVA – Get Rating) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 837,140 shares of the company’s stock after acquiring an additional 37,458 shares during the quarter. First Trust Advisors LP owned 0.73% of Sunnova Energy International worth $15,075,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ensign Peak Advisors Inc lifted its stake in Sunnova Energy International by 3.4% in the 1st quarter. Ensign Peak Advisors Inc now owns 21,510 shares of the company’s stock valued at $496,000 after buying an additional 710 shares in the last quarter. Ellevest Inc. lifted its stake in Sunnova Energy International by 25.1% in the 4th quarter. Ellevest Inc. now owns 3,772 shares of the company’s stock valued at $68,000 after buying an additional 758 shares in the last quarter. Advisor Group Holdings Inc. lifted its stake in Sunnova Energy International by 23.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,788 shares of the company’s stock valued at $387,000 after buying an additional 907 shares in the last quarter. Toroso Investments LLC lifted its stake in Sunnova Energy International by 25.7% in the 3rd quarter. Toroso Investments LLC now owns 4,470 shares of the company’s stock valued at $99,000 after buying an additional 915 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in Sunnova Energy International by 236.4% in the 1st quarter. Captrust Financial Advisors now owns 1,487 shares of the company’s stock valued at $34,000 after buying an additional 1,045 shares in the last quarter.

Sunnova Energy International Trading Up 8.7 %

Sunnova Energy International stock opened at $15.59 on Tuesday. Sunnova Energy International Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $31.47. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 3.18. The firm has a 50 day moving average price of $15.52 and a 200 day moving average price of $18.18.

Sunnova Energy International (NYSE:NOVA – Get Rating) last posted its earnings results on Wednesday, April 26th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.12). Sunnova Energy International had a negative net margin of 30.75% and a negative return on equity of 13.47%. The company had revenue of $161.70 million during the quarter, compared to analyst estimates of $159.54 million. During the same quarter last year, the business posted ($0.30) EPS. The firm’s revenue for the quarter was up 146.0% on a year-over-year basis. Analysts forecast that Sunnova Energy International Inc. will post -1.34 EPS for the current fiscal year.

Insider Activity at Sunnova Energy International

In other Sunnova Energy International news, insider Kelsey Hultberg sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $14.03, for a total value of $33,672.00. Following the completion of the transaction, the insider now owns 19,974 shares of the company’s stock, valued at approximately $280,235.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.40% of the stock is owned by insiders.

Analysts Set New Price Targets

NOVA has been the topic of a number of research reports. KeyCorp decreased their price target on shares of Sunnova Energy International from $39.00 to $34.00 in a research note on Tuesday, April 18th. The Goldman Sachs Group cut their price objective on shares of Sunnova Energy International from $23.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, March 30th. Scotiabank began coverage on shares of Sunnova Energy International in a report on Thursday, March 2nd. They issued a “sector outperform” rating and a $28.00 price objective for the company. Evercore ISI cut their price objective on shares of Sunnova Energy International from $35.00 to $31.00 and set an “outperform” rating for the company in a report on Tuesday, February 14th. Finally, Roth Mkm increased their price objective on shares of Sunnova Energy International from $51.00 to $58.00 and gave the company a “buy” rating in a report on Monday, February 27th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sunnova Energy International currently has an average rating of “Moderate Buy” and a consensus price target of $34.95.

Sunnova Energy International Company Profile

(Get Rating)

Sunnova Energy International, Inc operates as a residential energy service provider. It offers solar energy systems, electric vehicle chargers, and home solar protection. The company was founded by William Jackson Berger in 2012 and is headquartered in Houston, TX.

Featured Stories

Want to see what other hedge funds are holding NOVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sunnova Energy International Inc. (NYSE:NOVA – Get Rating).

Institutional Ownership by Quarter for Sunnova Energy International (NYSE:NOVA)

Receive News & Ratings for Sunnova Energy International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunnova Energy International and related companies with MarketBeat.com's FREE daily email newsletter.