Sunnova Energy International Inc. (NYSE:NOVA) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Sunnova Energy International Inc. (NYSE:NOVA) by 190.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 744,686 shares of the company’s stock after purchasing an additional 488,623 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.60% of Sunnova Energy International worth $7,253,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOVA. Peoples Bank KS purchased a new stake in shares of Sunnova Energy International during the 2nd quarter worth approximately $56,000. Caxton Associates LP acquired a new stake in Sunnova Energy International during the 1st quarter worth $62,000. Presidio Capital Management LLC purchased a new stake in Sunnova Energy International in the second quarter valued at $67,000. nVerses Capital LLC boosted its stake in 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 acquiring an additional 8,800 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Sunnova Energy International in the second quarter valued at $78,000.

Sunnova Energy International Trading Up 12.0 %

Shares of NOVA stock opened at $4.90 on Friday. The business’s fifty day moving average price is $6.66 and its 200 day moving average price is $6.88. The firm has a market capitalization of $611.63 million, a PE ratio of -1.46 and a beta of 2.26. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.86 and a quick ratio of 0.86. Sunnova Energy International Inc. has a 1-year low of $2.99 and a 1-year high of $16.35.

Sunnova Energy International (NYSE:NOVA) last issued its earnings results on Wednesday, October 30th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.45). The company had revenue of $235.30 million for the quarter, compared to analysts’ expectations of $238.23 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. Sunnova Energy International’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.53) earnings per share. As a group, sell-side analysts forecast that Sunnova Energy International Inc. will post -2.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Eric Michael Williams purchased 13,800 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was acquired at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the completion of the transaction, the chief financial officer now directly owns 13,800 shares in the company, valued at $49,680. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Akbar Mohamed purchased 54,717 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of $3.80 per share, with a total value of $207,924.60. Following the purchase, the director now directly owns 302,654 shares in the company, valued at approximately $1,150,085.20. The trade was a 22.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 118,517 shares of company stock valued at $439,605. Corporate insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NOVA. Scotiabank boosted their target price on Sunnova Energy International from $10.00 to $14.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on Sunnova Energy International from $9.00 to $6.25 and set a “hold” rating for the company in a report on Friday, November 1st. Susquehanna lifted their target price on shares of Sunnova Energy International from $12.00 to $14.00 and gave the company a “positive” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price target on shares of Sunnova Energy International from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. 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 on the stock in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have given 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 an average price target of $10.73.

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.