Sunnova Energy International Inc. (NYSE:NOVA) Receives $9.60 Average PT from Brokerages

Shares of Sunnova Energy International Inc. (NYSE:NOVA) have been given an average recommendation of “Hold” by the twenty-five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $9.03.

Several equities analysts have recently issued reports on NOVA shares. TD Cowen assumed coverage on Sunnova Energy International in a research report on Thursday, December 19th. They issued a “hold” rating and a $5.00 price target for the company. The Goldman Sachs Group decreased their target price on shares of Sunnova Energy International from $12.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. Robert W. Baird cut their price target on shares of Sunnova Energy International from $12.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Royal Bank of Canada lowered shares of Sunnova Energy International from an “outperform” rating to a “sector perform” rating in a report on Monday, December 9th. Finally, Wolfe Research downgraded Sunnova Energy International from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th.

Sunnova Energy International Stock Down 9.6 %

Shares of NYSE:NOVA opened at $2.23 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 3.26. The stock has a fifty day simple moving average of $3.59 and a two-hundred day simple moving average of $6.23. Sunnova Energy International has a 12-month low of $2.21 and a 12-month high of $13.00. The stock has a market capitalization of $278.01 million, a price-to-earnings ratio of -0.66 and a beta of 2.28.

Insider Buying and Selling

In other Sunnova Energy International news, CFO Eric Michael Williams purchased 13,800 shares of the business’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $3.60 per share, for a total transaction of $49,680.00. Following the purchase, the chief financial officer now owns 13,800 shares of the company’s stock, valued at approximately $49,680. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Akbar Mohamed purchased 54,717 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were acquired at an average cost of $3.80 per share, for a total transaction of $207,924.60. Following the completion of the acquisition, the director now owns 302,654 shares of the company’s stock, valued at approximately $1,150,085.20. This trade represents a 22.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 118,517 shares of company stock valued at $439,605. 4.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunnova Energy International

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sylebra Capital LLC boosted its position in shares of Sunnova Energy International by 125.6% during the third quarter. Sylebra Capital LLC now owns 12,443,048 shares of the company’s stock worth $121,195,000 after acquiring an additional 6,926,399 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Sunnova Energy International in the 3rd quarter worth $76,550,000. Amundi boosted its holdings in shares of Sunnova Energy International by 11.2% during the 4th quarter. Amundi now owns 4,385,286 shares of the company’s stock valued at $14,988,000 after purchasing an additional 441,232 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Sunnova Energy International by 3.6% during the third quarter. Geode Capital Management LLC now owns 2,562,684 shares of the company’s stock valued at $24,965,000 after purchasing an additional 88,945 shares in the last quarter. Finally, Teilinger Capital Ltd. bought a new stake in shares of Sunnova Energy International in the fourth quarter worth about $3,588,000.

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.