Tue Sep 17 07:24:53 UTC 2024: ## Bank of New York Mellon Boosts Stake in Sunnova Energy International
**New York, NY – September 17, 2024** – Bank of New York Mellon Corp increased its holdings in Sunnova Energy International Inc. (NYSE: NOVA) by 13.9% during the second quarter, according to a recent SEC filing. The firm now owns 394,812 shares of the company, representing a stake worth $2.2 million.
Several other institutional investors have also been active in the solar energy provider’s stock. Peoples Bank KS, Caxton Associates LP, First Trust Direct Indexing L.P., and Quest Partners LLC all acquired new stakes in Sunnova during the first and second quarters. BI Asset Management Fondsmaeglerselskab A S notably increased its position by a significant 129.9% in the first quarter.
Analysts have been bullish on Sunnova’s prospects, with several recent price target increases. Morgan Stanley, Susquehanna, Wells Fargo & Company, Royal Bank of Canada, and Piper Sandler have all raised their price targets on the stock, with most maintaining a “buy” or “outperform” rating.
Despite a recent insider sale by William J. Berger, the overall sentiment remains positive. The average rating for NOVA stock is “Moderate Buy” with an average target price of $15.26, according to MarketBeat.com.
Sunnova Energy International reported strong earnings in the second quarter, beating analyst expectations for both earnings per share and revenue. However, the company remains unprofitable on a net basis, with a negative net margin of 45.76%.
Investors will be looking to see if Sunnova can continue to grow its revenue and move towards profitability in the coming quarters.
First Piper 