Sunnova Energy International Inc. (NYSE:NOVA) Short Interest Down 24.8% in March

Sunnova Energy International Inc. (NYSE:NOVA) was the recipient of a large decline in short interest in March. As of March 15th, there was short interest totalling 29,540,000 shares, a decline 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 days-to-cover ratio is presently 1.6 days. Currently, 24.8% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Susquehanna lowered Sunnova Energy International from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $14.00 to $4.50 in a research report on Friday, January 10th. Roth Mkm downgraded Sunnova Energy International from a “buy” rating to a “neutral” rating in a report on Monday, March 3rd. Barclays cut Sunnova Energy International from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $9.00 to $1.00 in a research note on Wednesday, March 5th. Guggenheim upgraded shares of Sunnova Energy International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Roth Capital downgraded shares of Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $5.39.

Hedge Funds Weigh In On Sunnova Energy International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Erste Asset Management GmbH acquired a new stake in shares of Sunnova Energy International in the 3rd quarter worth approximately $76,550,000. Stratos Wealth Partners LTD. bought a new position in Sunnova Energy International during the 4th quarter valued at $114,000. Teilinger Capital Ltd. acquired a new position in shares of Sunnova Energy International during the 4th quarter valued at $3,588,000. Charles Schwab Investment Management Inc. raised its stake in shares of Sunnova Energy International by 17.5% in the 3rd 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 in the last quarter. Finally, Sylebra Capital LLC lifted its holdings 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 buying an additional 6,926,399 shares during the period.

Sunnova Energy International Stock Performance

NOVA opened at $0.31 on Friday. 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 business’s 50 day moving average is $1.59 and its 200-day moving average is $4.27. The stock has a market cap of $39.28 million, a PE ratio of -0.09 and a beta of 2.64. Sunnova Energy International has a twelve month low of $0.25 and a twelve month high of $13.00.

Sunnova Energy International (NYSE:NOVA) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($2.17). The business had revenue of $224.13 million for the quarter, compared to analyst estimates of $235.85 million. Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. During the same quarter last year, the firm posted $0.37 EPS. On average, analysts predict that Sunnova Energy International will post -2.63 earnings per share for the current year.

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.