Guggenheim Boosts Sunnova Energy International (NYSE:NOVA) Price Target to $10.00

Sunnova Energy International (NYSE:NOVA) had its price target upped by Guggenheim from $7.00 to $10.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Scotiabank dropped their price objective on shares of Sunnova Energy International from $20.00 to $10.00 and set a sector outperform rating for the company in a research report on Monday, April 29th. Mizuho dropped their price objective on shares of Sunnova Energy International from $21.00 to $17.00 and set a buy rating for the company in a research report on Friday, April 19th. BMO Capital Markets dropped their price objective on shares of Sunnova Energy International from $10.00 to $6.00 and set a market perform rating for the company in a research report on Friday, May 3rd. Piper Sandler cut shares of Sunnova Energy International from an overweight rating to a neutral rating and dropped their target price for the company from $9.00 to $4.50 in a research report on Tuesday, May 21st. Finally, The Goldman Sachs Group dropped their target price on shares of Sunnova Energy International from $14.00 to $12.00 and set a buy rating for the company in a research report on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $14.80.

Sunnova Energy International Stock Performance

NYSE:NOVA opened at $7.23 on Friday. Sunnova Energy International has a 1 year low of $3.37 and a 1 year high of $18.49. The firm has a 50 day moving average of $5.85 and a 200-day moving average of $6.50. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 3.41. The stock has a market capitalization of $896.39 million, a P/E ratio of -2.15 and a beta of 2.19.

Sunnova Energy International (NYSE:NOVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.22. Sunnova Energy International had a negative net margin of 56.52% and a negative return on equity of 12.10%. The firm had revenue of $160.90 million during the quarter, compared to analysts’ expectations of $193.78 million. During the same quarter in the previous year, the company posted ($0.70) EPS. Sunnova Energy International’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that Sunnova Energy International will post -1.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Sunnova Energy International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Sunnova Energy International by 2.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 45,491 shares of the company’s stock worth $663,000 after purchasing an additional 1,094 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Sunnova Energy International by 8.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 20,898 shares of the company’s stock worth $325,000 after purchasing an additional 1,554 shares during the period. First Affirmative Financial Network boosted its stake in Sunnova Energy International by 12.9% in the 2nd quarter. First Affirmative Financial Network now owns 14,829 shares of the company’s stock worth $83,000 after purchasing an additional 1,691 shares during the period. Manchester Capital Management LLC lifted its position in Sunnova Energy International by 2,959.7% during the 4th quarter. Manchester Capital Management LLC now owns 1,897 shares of the company’s stock worth $29,000 after buying an additional 1,835 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Sunnova Energy International by 23.2% during the 4th quarter. Victory Capital Management Inc. now owns 14,310 shares of the company’s stock worth $218,000 after buying an additional 2,694 shares in the last quarter.

About Sunnova Energy International

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.