Why Sunnova Energy Stock Was So Energized This Week
Despite a rather wide earnings miss for its latest quarter, Sunnova Energy International (NYSE: NOVA) was a popular stock this week. According to data compiled by S&P Global Market Intelligence, the renewable energy solutions provider's stock was trading almost 19% higher week to date as of early Friday morning. Recent weather events might be playing a role in this.
For its third quarter, reported after market hours on Wednesday, Sunnova managed to more than double its revenue on a year-over-year basis to nearly $149.4 million. This was buttressed by the addition of 21,800 new customers during the quarter, bringing the total to 246,600.
Unfortunately, the company's bottom-line loss also doubled and then some, coming in at over $62 million ($0.54 per share) from the third-quarter 2021 shortfall of $27.5 million.
Source Fool.com
