Sunnova Energy
NOVA

$10.47

5.92%

Market Cap: $1.31B

About: Sunnova Energy International Inc is a residential solar and energy storage service provider company. It offers services such as operations and maintenance, monitoring, repairs and replacements, equipment upgrades, and onsite power optimization. The products and services offered by the group include Add-on battery storage, Home solar protection plans, New solar battery storage, and various other solar systems. It operates in a single reportable segment: solar energy products and services.

Employees: 2,047

Utilities Electric & Other Services Combined

0

Funds holding %

of 6,686 funds

0

Analysts bullish %

of 14 analysts

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

25% more repeat investments, than reductions

Existing positions increased: 80 | Existing positions reduced: 64

0% more funds holding in top 10

Funds holding in top 10: 4 [Q1] → 4 (+0) [Q2]

1.85% less ownership

Funds ownership: 109.68% [Q1] → 107.83% (-1.85%) [Q2]

8% less funds holding

Funds holding: 225 [Q1] → 207 (-18) [Q2]

8% less capital invested

Capital invested by funds: $823M [Q1] → $756M (-$67M) [Q2]

35% less first-time investments, than exits

New positions opened: 33 | Existing positions closed: 51

47% less call options, than puts

Call options by funds: $45.1M | Put options by funds: $85M

See Fund Rankings

Research analyst outlook

14 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$8

24%

downside

Avg. target

$11.50

10%

upside

High target

$14

34%

upside

14 analyst ratings

10 positive

71%

4 neutral

29%

0 negative

0%

Morgan Stanley Andrew Percoco 78% 1-year accuracy 7 / 9 met price target	24%upside $13	Equal-Weight Maintained	21 Aug 2024
Piper Sandler Kashy Harrison 58% 1-year accuracy 25 / 43 met price target	24%downside $8	Neutral Maintained	12 Aug 2024
Scotiabank Tristan Richardson 57% 1-year accuracy 8 / 14 met price target	34%upside $14	Sector Outperform Maintained	6 Aug 2024
Wells Fargo Praneeth Satish 69% 1-year accuracy 9 / 13 met price target	14%downside $9	Equal-Weight Maintained	6 Aug 2024
RBC Capital Christopher Dendrinos 88% 1-year accuracy 7 / 8 met price target	4%downside $10	Outperform Maintained	5 Aug 2024

See Analyst Rankings

Financial journalist opinion

Based on 5 articles about NOVA published over the past 30 days

The Motley Fool

Why Sunnova Energy Stock Was Winning Big This Week

A research update from an important government agency has brought some bulls into the solar sector. This country continues to add electricity-generating capacity, and solar is an integral part of the effort.

Why Sunnova Energy Stock Was Winning Big This Week

Top 2 Utilities Stocks That May Implode In Q3

As of Aug 21, 2024, two stocks in the utilities sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

Top 2 Utilities Stocks That May Implode In Q3

Sunnova Powers Over 54,500 Customers Through Ernesto

HOUSTON--(BUSINESS WIRE)--Sunnova Energy International, Inc. ("Sunnova") (NYSE: NOVA), an industry-leading adaptive energy services company, announced today that it powered more than 54,500 customers in Puerto Rico during and after Tropical Storm Ernesto from August 13 to August 19 while the local utility grids buckled and were unable to deliver power to approximately half of the residents on the Island. During these seven days, Sunnova solar + storage customers generated a tremendous 8.05 GWh.

Sunnova Powers Over 54,500 Customers Through Ernesto

3 Solar Stocks to Buy on the Dip: August 2024

Weakness is an opportunity with solar stocks. Granted, there have been concerns that a Trump presidential win could derail clean energy stocks.

3 Solar Stocks to Buy on the Dip: August 2024

CNBC Television

Sunnova CEO on growth strategy, demand for solar and election impact

John Berger, Sunnova CEO, joins 'Money Movers' to discuss what the bankruptcy of a competitor means for Sunnova's business, why it's been so tough for the solar business, and what could be bad for business.

Sunnova CEO on growth strategy, demand for solar and election impact

Bloomberg Markets and Finance

Utility Rates Driving Solar Demand Surge, Sunnova CEO Says

Sunnova Energy Chair and CEO John Berger says higher utility rates are driving solar demand. Speaking on "Bloomberg The Close," Berger also comments on the SunPower bankruptcy and California's solar subsidies.

Utility Rates Driving Solar Demand Surge, Sunnova CEO Says

The Motley Fool

Why Sunnova Energy Stock Burned So Brightly Today

The solar energy mainstay posted its second-quarter results after market hours Wednesday. These revealed a notably higher revenue figure and a much narrower net loss compared to the year-ago quarter.

Why Sunnova Energy Stock Burned So Brightly Today

Sunnova Energy International Inc. (NOVA) Q2 2024 Earnings Call Transcript

Sunnova Energy International Inc. (NYSE:NOVA ) Q2 2024 Earnings Conference Call August 1, 2024 8:00 AM ET Company Participants Rodney McMahan - Vice President, Investor Relations John Berger - Chairman & Chief Executive Officer Eric Williams - Executive Vice President & Chief Financial Officer Conference Call Participants Philip Shen - ROTH Capital Partners Andrew Percoco - Morgan Stanley James West - Evercore ISI Brian Lee - Goldman Sachs. Dylan Nassano - Wolfe Research Michael Blum - Wells Fargo Pavel Molchanov - Raymond James Sophie Karp - KeyBanc Jordan Levy - Truist Securities Ameet Thakkar - BMO William Griffin - UBS Maheep Mandloi - Mizuho Operator Good morning and welcome to Sunnova's Second Quarter 2024 Earnings Conference Call.

Sunnova Energy International Inc. (NOVA) Q2 2024 Earnings Call Transcript

Sunnova Energy: Good Q2, But Highly Leveraged On Debt

Sunnova Energy reported a 32% increase in revenue in Q2 2024, driven by high-margin customers under lease and PPA contracts. Despite a 670% jump in adjusted EBITDA, driven by one-time ITC sales, I still have concerns about the company's long-term stability due to high debt levels. Management's focus on high-margin customers, and raised guidance for 2024 are positive, but I still don't see enough insider buying activity.

Sunnova Energy: Good Q2, But Highly Leveraged On Debt

Zacks Investment Research

Sunnova Energy (NOVA) Reports Q2 Loss, Tops Revenue Estimates

Sunnova Energy (NOVA) came out with a quarterly loss of $0.27 per share versus the Zacks Consensus Estimate of a loss of $0.54. This compares to loss of $0.74 per share a year ago.

Sunnova Energy (NOVA) Reports Q2 Loss, Tops Revenue Estimates

See News Rankings