5 Green Energy Stocks to Watch As Europe Cuts Reliance on Russia

2. Sunnova Energy International Inc. (NYSE:NOVA)

Number of Hedge Fund Holders: 25

Sunnova Energy International Inc. (NYSE:NOVA) is a leading residential solar and energy storage service provider, with customers across the United States. In Q4 2021, 25 hedge funds were bullish on Sunnova Energy International Inc. (NYSE:NOVA), holding combined stakes of approximately $150 million.

On February 23, Sunnova Energy International Inc. (NYSE:NOVA) increased its 2022 customer additions guidance by 2,000 customers and reaffirmed its 2022 financial guidance. 2022 full-year guidance is as follows: Customer additions of between 85,000 and 89,000, up from prior guidance of between 83,000 and 87,000, and net of amounts recorded in revenue, of between $134 million and $154 million, unchanged from prior guidance.

Baird analyst Ben Kallo lowered the price target on Sunnova Energy International Inc. (NYSE:NOVA) on February 28 to $46 from $56 and kept an Outperform rating on the shares. The analyst noted that Sunnova Energy International Inc. (NYSE:NOVA) posted arguably one of its cleanest quarters since it went public and reiterated its guidance. He said the company continued to execute on its plan of expanding energy offerings for residential customers, increasing its dealer partners, and establishing new partnerships while deepening existing relationships.