Connor Clark & Lunn Investment Management Ltd. Raises Stock Holdings in Sunnova Energy International Inc. (NYSE:NOVA)

Connor Clark & Lunn Investment Management Ltd. grew its stake in Sunnova Energy International Inc. (NYSE:NOVA) by 85.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,380,011 shares of the company’s stock after buying an additional 635,325 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Sunnova Energy International were worth $4,733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Peapack Gladstone Financial Corp increased its position in Sunnova Energy International by 11.0% in the third quarter. Peapack Gladstone Financial Corp now owns 32,200 shares of the company’s stock worth $314,000 after buying an additional 3,200 shares in the last quarter. PFG Investments LLC grew its position in shares of Sunnova Energy International by 37.0% during the fourth quarter. PFG Investments LLC now owns 18,345 shares of the company’s stock worth $63,000 after purchasing an additional 4,955 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Sunnova Energy International by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 908,997 shares of the company’s stock worth $3,118,000 after purchasing an additional 7,564 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Sunnova Energy International by 4.2% during the third quarter. Rockefeller Capital Management L.P. now owns 262,339 shares of the company’s stock worth $2,555,000 after purchasing an additional 10,520 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its position in shares of Sunnova Energy International by 85.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 24,845 shares of the company’s stock worth $85,000 after purchasing an additional 11,435 shares in the last quarter.

Sunnova Energy International Price Performance

Shares of NOVA stock opened at $0.32 on Monday. Sunnova Energy International Inc. 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 capitalization of $39.40 million, a P/E ratio of -0.09 and a beta of 2.64. The stock has a 50 day moving average price of $2.24 and a 200 day moving average price of $4.96.

Sunnova Energy International (NYSE:NOVA) last issued 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). Sunnova Energy International had a negative return on equity of 11.15% and a negative net margin of 51.02%. The business had revenue of $224.13 million for the quarter, compared to the consensus estimate of $235.85 million. During the same period in the prior year, the business posted $0.37 earnings per share. As a group, sell-side analysts predict that Sunnova Energy International Inc. will post -2.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NOVA shares. Piper Sandler cut their target price on Sunnova Energy International from $4.50 to $1.00 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. TD Cowen started coverage on Sunnova Energy International in a research report on Thursday, December 19th. They set a “hold” rating and a $5.00 target price for the company. Roth Capital cut Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. Baird R W lowered Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Janney Montgomery Scott lowered Sunnova Energy International from a “buy” rating to a “neutral” rating and set a $1.00 price target for the company. in a research note on Tuesday, March 4th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sunnova Energy International has a consensus rating of “Hold” and an average price target of $5.39.

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.